All Forum Posts by: Xiao Huang

I've been talking with my NetWorth of Tampa contact since July and just got my first property purchased. So far, I can confirm a lot of the things people said here: Their rehab estimation is too low, contracts/addenda favor the seller 100%, ARV appraisal is slightly lower than NPO (aka their ARV estimation), they got you one way or another once you're in contract. I am very pleased with my NW contact though; She answers her phone every time or calls me back right away, helped me find contractors and get bids, helped me find property managers, help me understand their '212 Loans' program, so I feel like my hand is being held through the whole cycle. Also, I'm investing from out of state, sight unseen, so I understand that this is extremely high-risk. My NW contact is no way obligated to help me and I contractually have zero recourse if she decided to disappear on me. But if this ends up working out, it would be awesome and I'll be asking NW for more.

I've found that some of the zipcodes on the northside (32208, 32209, 32206) have adequate opportunities to meet the 1% rule; however, with some deeper looking you most definitely can find properties elsewhere in Jacksonville that may not require as intensive of management as Ken mentioned.

Hi Farman,

For us and our goals, we look for areas that can potentially generate the 1% cash flow rule. We've had luck in areas or zip codes like 32210, 32208 (Harbor View, Lake Forest Hills) and 32211 (Arlington). This video is pretty helpful and goes into detail about the Jacksonville neighborhoods: Tour of Jacksonville FL Neighborhoods for Rental Property Investing

Hope this helps!
Elenis

Happening soon @Xiao Huang - next Thursday from 6-8PM same location

Did anyone sit through the free online "live" webinar? I did this morning. I doubt it was actually live. It was mentioned several times that no one could see the chat, but Pace assured us that he could see all our comments, and he would occasionally comment on the alleged comments. He even asked his assistant if he could get the chat turned on. (Of course, it never worked.) Any comment you made went "To admin only."  But a message from "Team Pace" would come through that said "Pace's team can see your chats, it's due to a tech error but all is working and good!" I made a comment about the earnest money that contradicted what he had said about it. Then when I made another comment that it was convenient for them that no one could see any comments made, my access was immediately terminated. I went back to the webinar through a different device and saw that they had also added a link to access his Gator Method for $2,997. Of course, it's for a limited time only, then they are going to "shut off the Gator Method" for about a year. It all seemed rather sketchy to me.