All Forum Posts by: Minna Reid

32209 is definitely not the greatest area of Jax, but one of the best for cash flow, and that's usually how it goes. The rougher the area, the more headaches, and more profit. Average rents for a 3/2 SFH there about $1400, Sec 8 pays $1210.

That's actually not true - Some lenders will force owners in a short sale situation to have their home on a hubzu auction to validate the price.

Investigate title to see if a foreclosure has already been completed.If not - you can still pursue the property by having the owner sell you the home. If it has in fact foreclosed, it is too late.

Anyone here near Homosassa FL with experience in short sales, for a listing ref? VA short sale, vacant home without power. 25%.

We are definitely not that regulated. Nothing like what you're used to lol.

As far as the SFH - $400k opens up most of the city with your requirements. If you look at the city on a map the major "areas" of Jax are separated by the Saint Johns River- the southeast quadrant of Jax is the most desirable, and priced accordingly. The closer you get to the ocean, the higher the prices. North of the river is North side. West is west side. Both North side and West side have some rough areas as well as newly developing areas, and then it fades to rural country once you go north and west enough. I personally feel Westside offers the best values in Jax, as it is still very affordable but growing quickly. If you look at the 295 corridor (except for SE Jax which is very developed all over), as a general rule once you step out of that circle, you are further from amenities and heading to the country.

Downtown is pretty much our worst area. When you see the low prices there, there's a reason why. Unless you're ready to deal w crime/drugs/rundown neighborhoods/questionable characters you will want to go further out. 

The thing w Jax that you wont be used to, is that the areas are so mixed. You will see an old trailer on an overgrown lot, next to a beautiful newly constructed subdivision. Neighborhoods are not well defined geographically nor can you categorize well by zip codes or school districts, like you can up there. You just kind of get to know the areas over time. 

I just checked and there are extremely few 20-100 unit MFs. Same rule of areas applies here. I also think you will have trouble finding MFs that size that are newer than 1980. Most of what I've seen like that is older, and very often you will have an investor selling a bundle of singles/duplexes/quads together, rather than one complex. 

I feel like I'm starting to write a novel here lol, and I could go on. If you are coming down, spend a few days driving around and looking at the different areas. Certainly feel free to reach out to me if you have more specific questions, or need any more help.

That question is kind of broad. Maybe you want to specify what you're looking for some more. 
I moved here from Connecticut 4 1/2 years ago and let me tell you it took me like a year to learn the city. We literally have everything from trailer parks in the country to multi million dollar mansions on Oceanfront and everything in between. 
I will tell you that if you’re looking for those small multis like we have in Connecticut, and all over the northeast, there’s just not a lot of those here. The South was developed later and differently.  Most of our housing stock is single-family housing or very large apartment complexes. 

 No respectable agent will help you with this, as you are creating an obstacle for the seller, not helping them. The sellers would all be better served by listing their home with an agent. 

Wholesalers are basically just attempting to act as agents but without the knowledge, license, tools, or mass exposure. How do you see an agent helping a wholesaler and why would they?

I have seen licensed wholesalers listing on mls here though. 

Some areas of 32209 are not too bad. I've shopped for investors there. I actually recently wrote about the zip code - not sure I can post a link here. As of that article (June) the average 3/2 was $159k, with the average rents for such at $1380. I suspect the sale price point is a little lower now.  I saw some decent rental grade stuff for low 100's.

For reference, HUD pays $1210 for a 3 bed, $1530 for a 4 bed in that zip.

I would personally call that a C/D area, but south of that is a little better.  The neighborhoods in west side range so much.  If you want B and above in Jax, you really should be east of the river, or along it, but not downtown lol.

I could go on, and on and on lol, but I guess without knowing what you're after and at what price point, kind of a moot point. If you need help, feel free to reach out.

Listing agreements are very much enforceable. 

Just make your offer with the agent.