Jacksonville Florida Turn Key Rental Properties with Gregg Cohen

Investing in Jacksonville, Florida Turn Key Rental Properties-Podcast Episode Highlights

Gregg Cohen, founder of JWB Real Estate, joins us on the show today to discuss Jacksonville Florida turn key rental properties. Real Estate investors in the olden days were limited to investing in their local market-where they could physically manage the tenants, repairs, and any other issues that arise from owning property long term.

In today’s world, with the internet and property managers like JWB who offer fully renovated houses with tenants in place, out of state, or even out of the country owners can enjoy cash flow in any real estate market. With so many markets available, let’s talk about why I like Jacksonville, Florida, and the reason I sought to invite Gregg onto the show.

How to Scale a Real Estate Investment Portfolio Using Turn Key Rental Properties:

My main business is buying & selling houses as quickly as I can. Sometimes completing renovations, sometimes selling nearly as-is, with only minor cosmetics done after we buy the property. Even though I close close to 300 deals per year, when it comes to passive income, I prefer buying turnkey investment properties. I also have no issue with long distance ownership.

The bottom line is that I can scale quickly when turnkey companies are placing tenants and managing the details for me. The extent of my involvement is the heavy lifting on the front end to actually close the purchase: the loan application, signing documents, and providing the 20% down payment.

Why Invest in the Jacksonville, Florida Real Estate Market?

The Jacksonville, Florida real estate market is attractive to me first for location.  First, there are jobs and population from all over the U.S. migrating to Florida.  Second, the home prices in Jacksonville haven’t detached from wages.  Normally I prefer buying turn key rental houses in markets with 5 Million people.   Jacksonville has about 1.5 million, which is smaller than I’d like, but large enough to catch my attention. Even though it’s smaller than I’d normally prefer, Jacksonville is among the fastest growing large cities in the US.

Why Does the Age of a Home Impacts the Value and Maintenance Cost?

Gregg’s latest innovation is build to rent single family homes. Turn key rental property investing normally focuses on existing houses.  First, the company buys a house, second, they renovate a house, third, they rent to a tenant, and finally, they sell the house with tenant to an investor like me.  JWB actually began buying lots and building brand new homes for the same purpose: to provide investors with a brand new turnkey rental investment. I have since attempted buying the brand new offering only to find out that they are in very short supply.   Somewhat disappointed…

Anytime I consider buying a turnkey rental property, the biggest variable, after location, which affects price is the current condition. I love the idea of a new home-since the entire house is new. That’s not usually an option, so I evaluate the home based on it’s current condition. I prefer buying renovated turn key real estate investments from the property management company who also does the renovation. You still need to to due diligence on the company, the house, & the market before you close the deal.

Many of the houses I’ve bought “turn key” were simply occupied rentals bought from mom & pop landlords. In these instances, I expect a risky tenant, many repair issues, and a significantly below market price to account for the risk.  Long term maintenance costs are higher on those deals.   On the other hand, a fully renovated turn key rental property purchased through a full service provider, such as JWB real estate, will cost less in the long run. Please check out the full episode & come up with your own conclusions.

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Greg & I Discuss:

  • Why Invest in Jacksonville, Florida Real Estate

  • Turn Key Rental Properties Offer Easy Scale

  • Build to Rent-Brand New Assets

  • Why a “Focused Approach” Beats a “New Markets Approach”

Relevant Episodes: (174 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.JWBRealEstateCapital.com

The transcript of this episode can be found here.

Transcripts of all episodes can be found here.

Avail the Free Property Management Platform with Laurence Jankelow

Laurence & I Discuss:

  • Cycle of a Landlord-Move in to Move Out

  • Automate every step of the process

  • Auto-pay tenants ACH

  • Credit Report, Background, & Lease Signing Online


Listen Now:

Google Play

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Relevant Episodes: (There are 161 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.Avail.co

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

 

Scaling Your Business through A Players with Mike Matalone

Mike & I Discuss:

  • Definition of an “A” Player

  • System for Attracting & Onboarding Talent to Stay

  • How to Make Better Hires

  • Training for the job hired is a Mistake…


Listen Now:

Google Play

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Relevant Episodes: (There are 160 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.XP3Talent.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Owning & Operating 4,500 Apartment Units with Mark Kenney

Mark & I Discuss:

  • Cost Segregation for Huge Write Offs

  • Partnering for Bigger Deals than You Can Afford

  • Favorite U.S. Markets

  • The Best Deals are NOT Always the Cheapest


Listen Now:

Google Play

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Relevant Episodes: (There are 145 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.ThinkMultiFamily.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Why Single Family is Better than Multi-Family for Building Wealth with Greg Rand

Greg & I Discuss:

  • Reasons Why Single Family is Better than Multi Family

  • Considering Liquidity when Investing in Real Estate

  • Data Points for Selecting a Market

  • Greg’s Favorite Single Family Real Estate Markets


Listen Now:

Google Play

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Relevant Episodes: (There are 144 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.RentersWarehouse.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Litigation Finance-How to Fund a Million Dollar Lawsuit with Roni Elias

Roni & I Discuss:

  • Roni’s Experience in $9 Billion of Litigation

  • Risk of Insurance Company Payout for RE Investors

  • Financing a Lawsuit with Zero Cash out of Pocket

  • Background in Building $500 Million Comm. RE Portfolio


Listen Now:

Google Play

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Relevant Episodes: (There are 143 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.YourTCP.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Get FREE ACH Payment Processing on Rentals with Eachan Fletcher

Eachan & I Discuss:

  • How to Get FREE ACH Payment Processing for Your Rentals

  • Rental Insurance-Get Paid During Evictions

  • Push Button Maintenance Processing

  • Guaranteed “On Time” Payments


Listen Now:

Google Play

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Relevant Episodes: (There are 142 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.NestEgg.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Noel Christopher on Capitalizing on the Consolidation Underway in Property Management

Noel & I Discuss

  • Benefits of a Company with 22,000 Units Under Management

  • Best U.S. Markets to Invest (if your market is overpriced)

  • Selecting the Next Market Outside of Your Own State


Listen Now:

Google Play

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From Closing Thousands of Deals to Managing More than 20,000

Noel started out in real estate in the Chicago market, closing several thousand deals between 2010-2015.  He has since changed his focus to Residential Property management for the smaller investor.   Due to a lack of quality national property management companies, Noel, of Renters Warehouse, has been focusing on acquiring new property management companies and building strategic partnerships.

Relevant Episodes: (There are 109 Content Packed Interviews in Total)

Resources Mentioned in the Episode:

www.RentersWarehouse.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.