Jacksonville, FL Rehabs And Rentals
Does anyone know if Jacksonville is a good location for :
Rehabbing ?
Section 8 rentals ?( What the avg. rent for 3 bedrooms)
Buying low and selling high?
Is this area on the uprise?
Compared to 3 years ago, the Jacksonville, FL market is crouded with Real Estate hustlers.
On most days, the Courthouse steps auctions attract 30 to 40 buyers. Even though the Court calendar may show 30 foreclosure sales that day, Bankruptcies and other cancellations claim most of them. The two or three houses that are sold to investors are fought over and bid up to almost-retail levels. Not a pretty sight.
Many neighborhoods are on the uprise, but beware of War Zone properties. Doors get kicked in and freshly rehabbed properties get trashed.
Lots of preforeclosure activity, too. I went to a home two days after a Lis Pendens was filed indicating the start of the foreclosure process... The homeowner was taking names and business cards... I was the 4th person to knock on his door!
Jax is a great place to live, with all the waterfront activities, etc., but the big run-up in prices has already occurred and you really have to work hard and smart to make it big in Real Estate.
Good Luck.
[addsig]
Bargain76....
Also, what do they get for rent on a 3 and 4 bedroom in Jacksonville? (Section 8)
http://www.hud.gov/offices/cpd/economicdevelopment/programs/rc/tour/fl/jacksonville/index.cfm