All Forum Posts by: Mark J.

@Cody L. nice...thanks for the insight.  Sounds interesting. I'm not ready for TX, yet, but great to know there's opportunity there.

@Daria B. Thanks for the info.  Strange about the house in Carol Estates.  I'm fairly familiar with that area and it seems like houses go for a little under a 100K, but probably not that much of a demand in that area.

Yeah, I think the big apartment complexes with full amenities do create a lot of competition.  I know a lot of students and parents probably prefer that type of living for convenience and safety.

The duck pond area has always been a pretty nice area for downtown, especially right by the pond.  It's pretty much looked the same for the last 25 years, and I think there is a lot of pride of ownership, which has maintained the neighborhood. I think it's attractive to professionals and students, which is probably why it's not very easy to find properties selling at a discount though.  I saw a duplex that needed some work, sell for a little under 150K a year or so ago.  I missed that one and haven't seen anything similar come up yet.

Interesting about Depot Park area.  15 or so years ago, and probably sooner than that, that was a really run down area known mostly for being run down and drugs.  Interesting about seeing the new builds and having access to the planning reports.  I think there's a lot of areas around downtown gainesville that have the same potential revitalization, but who knows if and when it will ever happen, especially if the focus continues to build new, psuedo modern apartment building.

@Daria B. Thanks for the insight.  I hear you on being over built.  I've also noticed all the new apartment buildings that have shot up, especially around the campus.  It's kind of unfortunate because it's taken away from some of the charm of the downtown/campus area.

I've been seeing what your seeing as far as selling prices not allowing for decent renting cash flow.  It seems like the average rent for a 2/1 or 3/1 around the campus area is around $1300, but most decent places are selling for 170K and up. 

My familiarity is more with the neighborhoods and less with property prices.  It's crazy how much places are going for in the "Depot Park" area considering what that area was like 5-10 years ago.  I see places in around the "pleasant street" area at good prices and hear talk of the neighborhood being revitalized, but have yet to see if that is really happening?  I think it has potential due to it's proximity of everything, but there's still a lot that needs to be done and not sure if long time residents are motivated.  Would really like to find something in the duckpond area as I think that has good long term value, but it's a small area and desirable for owners and investors.

I do think there are opportunities for rehabs, but the good ones go fast and a 1 or 2 block radius can make a good opportunity not be so good.

@Arianne L. Curious...did you end up investing in Gainesville or looking into it further?  

Anyone else investing or has invested in Gainesville and willing to share their perspective.

I'm currently looking into the market as I'm fairly familiar with the area.  Seems like prices are fairly high compared to rent rates, especially for decent areas that students would want to live in.  

@Cody L. Thanks for the input. Houston sounds interesting and like it has a lot of potential. What grade of properties are you investing in in Houston- B, C, etc? Are you finding the places through MLS listings? What areas are you liking?

@Steve R. Thanks for sharing the insight.  Will have to spend some time learning more about those areas and their ongoing development- sounds really interesting.  Agree about the importance of being close to public transportation, this creates significant value around my area as well.  I've mostly been looking into urban/city and college areas where there is a definite renters market.  I'm not too familiar with the demand for rentals in suburban areas, but sounds worth looking into.

For those familiar with Texas, would you say Austin is on the higher priced, more competitive (to find a deal) side compared to some of the other towns/cities in Texas?  I like the idea of Austin and it seems to have a lot going for it in many ways. 

Doing a quick search on Realtor.com comparing SFH and Condo buy prices to rentals rates makes it seem like finding properties that meet the 1% rule are going to be really tough to find.

@Steve R. thanks for these area recommendations- Austin (Cedar park, Leander, Round Rock).  Are these more suburban areas?  If so do you think these areas have more potential than the downtown area?  

@Darius Anderson thanks for starting this thread.  I'm in the NY/NJ area, so unfortunately have to go out of state to invest and also trying to find a market(s) that make sense.

From what I can tell and have seen in Allentown, for a duplex that price looks about right or average.  I would think you could possibly find something for about 20% less or discounted, but like others have said it would probably be a rarer off market deal and most likely require more cash, less contingencies or some type of seller perk so your offer is more competitive.  There's a lot of interest in this area right now and these types of deals seem to go fast.  As mentioned above your competing with local investors that are on the ground negotiating deals in the living room with cash and know the market well.

Also like others have said and from what I've been told your rent income may be a little on the low side.  It really depends on the number of rooms, condition of the property and specific location though.  With that said I too would be hesitant on basing my calculations on rent income that is higher than what's currently.  

@Diego Zuluaga actually moved from Manhattan to Jersey City about a year ago...just updated my profile. It's been awhile since I've been on the here..haha

@Dave Lin Thanks for the referral!  Will reach out to David....

@Raymond Y. Thanks Raymond- Much appreciated!

@Cesar Medina Sounds Good, feel free to PM me as well.