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Many of our past guests on the show have referenced the Jacksonville real estate market in their lists of rising, hot Florida markets. The area has been making a steady recovery since the economic recession and investors are taking notice. With a stable economic base and opportunity in a variety of asset classes, the Jacksonville real estate market has a lot to like for investors.
Maxwell Lee and Kelly Lei, of Glocal Network, know firsthand the appeal of the Jacksonville real estate market. Two years ago, Kelly and Maxwell both left traditional, W-2 income careers for a life in real estate investment and started Glocal Network, a real estate investment firm based out of Jacksonville. Though the company is young, they have a combined portfolio of individually owned and partnered investments of over 20 properties in a diverse collection of asset classes. Kelly’s brokerage and agent’s license combined with Maxwell’s hometown knowledge of the Jacksonville real estate market have established Glocal Network as a leading investor in the Jacksonville real estate market.
- Jacksonville Real Estate Market
- Large amounts of single family foreclosure properties still being released
- 40th largest metro in U.S., with strong growth potential
- Strong single family markets: Riverside; Avondale; Springfield; San Marco
- Murray Hill: Up-and-coming secondary market
- Rent hikes in prime markets (Riverside, Avondale)
- Ep. 84 – Daren Blomquist: Which Florida Markets are Hot?
- Glocal Network
- “Opportunity Investors” – invest in variety of asset classes
- +20 properties in portfolio
- Mainly single family, but also retail and multi family
- Deals financed privately, no institutional loans
- Glocal invests 25%, investor(s) contribute remaining
- Preferred percentage deal on returns
- Average single family turnkey property costs: $90k, all in
- Investment Tips
- Want to invest? Buy a property, start small
- Take advantage of the current low interest rates
- Learn from experience
- Know your market
- Find a mentor or network
- Inspiration/Support
- Kelly’s family instilled a determined and practical mindset regarding real estate investing
- Maxwell and Kelly found BiggerPockets instrumental in investing advice and establishing a strong local investment network
Kelly and Maxwell can be contacted with an opportunity to work with Glocal Network in the Jacksonville real estate market or for investing advice by email at glocaljax@gmail.com