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Old 03-22-2018, 11:30 AM
 
7 posts, read 3,898 times
Reputation: 10

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Quote:
Originally Posted by projectmaximus View Post
A few things to tackle here but it's mostly going along with what everyone else has said.

There are certainly some rentals for $800 in Riverside. We have a one-bedroom that is renting for $825 and it's actually a pretty decent unit in a very good area. If you look more in the fringes and/or worse properties you will find some renting in the 600s. However, like I said, they aren't vacant for long. I craigslist post usually gets a vacancy filled within a couple days.

Being a realtor!! Ooo boy. My wife did that for several years, decently successfully, but she had plenty of buyers lined up and all the resources necessary to be successful. (car, lots of savings, etc) She's changed careers now since she didn't really enjoy it all that much, but I still run our real estate investing company and count a number of local realtors as friends and partners. I cannot imagine any realtor not having a vehicle. Your best bet is to get a non-agent job with an investment company that does wholesaling (we do not) and kinda hustle from the ground up. Not sure how likely you can land a job prior to moving.

For your desires, Miami is marginally better. More people, more opportunities, slightly easier to go without a car. However it is way more expensive so unless you have a connection into a cramped roommate situation I'm not sure how you'll make it work. Also note, Realtors in Miami do much better if they speak Spanish. It's not just the clientele that would prefer a Spanish-speaking agent (probably a third of them do), but then also the fact that many of the agents you would deal with would also speak Spanish. This environment is probably lessened to a degree the farther north in the metro you go (Broward County less, and Palm Beach County even less so)
Hi and thanks for your advice. I am delaying the move till I get a car. I worked for a real estate investment company and we did every deal you can imagine. My goal is to be both an investor and an agent and starting my own company. I want to ask what do you do and the deals you focus on? You mentioned you do not do wholesaling. I really like to talk to you to get your feel for the market.
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Old 03-22-2018, 12:55 PM
 
88 posts, read 46,277 times
Reputation: 99
Why, if you have never been to Florida before, do you want to move there?


We've been all over FL, from Destin to Key West, and when I retire will be moving out of Pennsylvania, and I'm still not convinced FL is the answer for us. It is high in the running because all of my family have moved down there over the last 20 years, but I'm not sure it's the right place.


Moving to a new state sight unseen is a big gamble.
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Old 03-22-2018, 01:49 PM
 
5,638 posts, read 5,481,259 times
Reputation: 4158
Quote:
Originally Posted by Gypsy3n8 View Post
Why, if you have never been to Florida before, do you want to move there?


We've been all over FL, from Destin to Key West, and when I retire will be moving out of Pennsylvania, and I'm still not convinced FL is the answer for us. It is high in the running because all of my family have moved down there over the last 20 years, but I'm not sure it's the right place.


Moving to a new state sight unseen is a big gamble.
Yes, it is a gamble, but I would encourage the OP to just do it. I moved from CT to Ft. Lauderdale in the 1980s with $1000.00 in my pocket, period. It was a real Hail Mary pass for me, and I went through a lot, but I'm still here.

What he wants is doable, if a little difficult. This comment by Project Maximus makes sense:

"Your best bet is to get a non-agent job with an investment company that does wholesaling (we do not) and kinda hustle from the ground up."

There are two jobs available in the Jax area similar to that, where you can work from an office or even at home, calling prospects.

I think Jax is a better bet. I would forget Miami. Tampa is another metro that might work out, there's a lot of real estate activity in the Tampa Bay area.

I think Ham will make it down here, and I don't often say that to people planning on moving from the Northeast.

Ham, everyone will tell you that you can't do it, but you can.
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Old 03-22-2018, 03:20 PM
 
370 posts, read 213,714 times
Reputation: 443
Quote:
Originally Posted by Ham120 View Post
Thank you for the reply. I agree with you about the expenses that come with becoming a real estate agent. In my last job I was responsible for finding buyers and renters which I did in multiple areas with great success, I do not need to find sellers as long as I come up with the buyers I can make money. That's why I want to become an agent.
Just so you know, there are over 8000 people licensed to sell real estate in Duval County ALONE! Moving to a new city with no sphere of influence (or even a job set up) isn't wise. Average rents in Jax for a one bedroom now top $1000 a month.

Your plan doesn't seem well thought out.
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Old 03-22-2018, 06:48 PM
 
5,638 posts, read 5,481,259 times
Reputation: 4158
Since the OP already has a background in real estate, and no family to worry about, he could start out here as an on site property manager, especially since he's worked with renters. That would take care of the apartment situation, enable him to get a functional beater for a car, get his license on line, get to know the area, etc.

Ham, if you've got references and clean background check, look on line for a situation as an on site property manager. I'd avoid the mobile home parks, but on the other hand, there's a LOT of money in that field and corporate offices looking for decent folks to hire. They usually want someone who's a bit handy, though. But not always. The 55+ places always need leasing managers.
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Old 03-22-2018, 07:32 PM
 
Location: Miami-Jax
6,841 posts, read 7,537,697 times
Reputation: 3891
Quote:
Originally Posted by Ham120 View Post
Hi and thanks for your advice. I am delaying the move till I get a car. I worked for a real estate investment company and we did every deal you can imagine. My goal is to be both an investor and an agent and starting my own company. I want to ask what do you do and the deals you focus on? You mentioned you do not do wholesaling. I really like to talk to you to get your feel for the market.
We have done lots of sfr flips and rentals in the sub 200k price range. Some multifamily and one commercial property. For the first few years we worked with lots of deep-pocketed investors, but the way we structured our operation it really wasn't worth it for us to do all that work with only a small piece of the upside so that paired with my wife leaving the business means we do a small fraction of what we were doing a few years ago. Moving forward I'm anticipating doing maybe just 5 or 6 projects per year, and only including partners if I stumble upon a mega deal.

I think that Jax is still a pretty good market for investment, but it's bubbling a bit especially for those of us who were here to witness the prices back in 2010-11. I'd say deals are a lot harder to come by nowadays and there's more competition than before so tbh that's probably another factor in us slowing down a lot. Again, doesn't mean it's a bad market to invest in, but it's not like it was 5 years ago when I was proclaiming it a top 3 market for investment.
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Old 03-23-2018, 08:46 PM
 
Location: Jacksonville, FL
11,155 posts, read 14,751,322 times
Reputation: 7136
I stand by my opinion that the OP should not proceed with this plan unless he/she has a job secured prior to moving or a minimum of $10,000 saved up. And sadly, these days, even that is just barely an emergency fund. I moved from CT to FL last year and had a job secured before moving down here. It can be done, albeit challenging.
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