Summary: On today's episode we briefly revisit Jacksonville, Florida to look at some new pre-construction investment opportunities.<br> <br> I also answer several listener questions about getting started, property tax rates as an out-of-state investor, and whether a cash-out refinance on a principal residence makes sense.<br> <br> If you missed last week's episode, be sure to listen to the Market Spotlight: Little Rock, Arkansas.<br> <br> Enjoy the show!<br> <br> - - - - - - - - - - - - - -<br> <br> Download your FREE copy of: The Ultimate Guide to Passive Real Estate Investing.<br> <br> Get your FREE coffee mug by leaving us a Rating and Review on iTunes. Here's how.<br> <br> See our available Turnkey Cash-Flow Rental Properties.<br> <br> Please give us a RATING & REVIEW (Thank you!)<br> <br> SUBSCRIBE on iTunes | Stitcher | Podcast Feed <br> <br> <br> Listener Questions / Jacksonville Update<br> On today's show, we're going to cover two things. One, we're going to have Brian back on the show here to give us a quick Jacksonville update. He’s got some new construction opportunities in the Jacksonville market, which I think you might be excited about. Then I have three great questions that have come in recently from our listeners. I'm going to cover that here right after we talk to Brian. <br> <br> It's my pleasure to welcome back one of our Jacksonville providers. I have Brian on the line here who wants to give us an update on the Jacksonville market. More importantly, he wants to give us an update on an exciting new construction project that he has going on. Brian, welcome back.<br> <br> Thanks so much for having me Marco. It's good to hear your voice.<br> <br> Thanks for coming back on the show for a quick update on the Jacksonville market. That's a good place to start, Brian. Let's talk about what has transpired since episode number 21, where we did an entire episode with you on the Jacksonville market and we talked about not only what's going on there, but the product type that you are producing as far as turnkey rental properties. What has changed since then? If you want, just highlight some of the things you talked about in the past that would make good highlights for new listeners.<br> <br> To revisit just very briefly for the listeners, we started investing in single-family homes and foreclosed property in particular back in '98 in Bakersfield. That, at the time, had a third of the foreclosure activity in the state of California. We saw it as a huge opportunity. We went in there pretty green and made some mistakes in the beginning and very quickly built a really good team. From '98 to '04, we built up a portfolio of a couple hundred homes. Most of the listeners know what happened in California between '04 and '06. We were fortunate enough to start liquidating in '04 and we sold every home that we owned in California between '04 and '06. We made a really good play there and made millions of dollars fairly quickly and then moved a lot of the resources and the capital into Jacksonville. Timing wasn't the best to do that in '06 and '07 and Florida was not the best place to be placing capital. We realized that very quickly and then backed off 2008 to 2011 when Jacksonville bottomed out. Then 2011, fast forward to today, we came back into the market slowly in '11 and since have built up a good sized portfolio. We're right around 170 homes and providing a lot of turnkey investments for investors like yourself.<br> <br> <br> <br> An update on Jacksonville, since we spoke last, Marco, which was only about a year ago, honestly, nothing has radically changed. Obviously, the fundamentals are what they are. Really just to focus and give you an update on the timing in the market and where we're at this cycle, we are still moving through recovery in a buyer's market, in my opinion, in our niche in Jacksonville.
