All Forum Posts by: Shafi Noss

Hi Everyone, 

This summer I'd like to buy a single family home in Jacksonville with at least 3 bedrooms and 1.5 bathrooms that are under $100k. I would like to buy properties all-cash from motivated sellers with some to no distress on the property, and then rent them out under a property manager after repairs. 

Any real estate investors in Jax?

Any investors have a real estate agent they'd like to give a referral? 

Thanks,

Looking at the Realtor.com's estimate for the properties in Jacksonville, it looks like the mortgage payment is lower than Rentometer's rent! 

For example, Zillow estimates one of its 90k properties to have payment for mortgage, insurance, and taxes at $500/mo. But Rentometer estimates the rent at around $750, which is so low it fails the 1% rule. The thing is, almost every property I've looked at in Jacksonville has a similar story. How could mortgage payments be so much lower than rents?

Hi everyone,

There are a few posts on BP asking "How do I figure out the ARV?" and each time knowledgeable people answer, 'look at comps' or 'ask an appraiser'. Let's focus on comps. No two houses are the same, and this makes comping an art rather than a science. But art can be done well, and it can be done poorly. How can someone do the art of comping well?

For example, if you just renovated a house, would it sell for above market value since its recent polishing puts it in better condition than most other houses? How do you determine (approximately) how much something like an extra bedroom or bathroom is worth, or extra square footage or a larger lawn? Is there anything that may not seem obvious, but is actually great to know about? How do you use comps to effectively determine ARV?