weeds to find the off-market deals. That’s the best way to capture some equity,” he explained. “We’re still able to find deals in Jacksonville proper.” Dorsey estimates that his average time to rehab a property is 30-45 days. If priced right, the time on market to sell the rehab is less than 45 days making for a total 90- 160 days to go all the way through the fix-and-flip cycle. While it is hard to find deals that make sense in the current economic climate, he is finding it very easy to sell his properties. With properties not appreciating the way they were over the past three-to-four years, Dorsey believes the market in Jacksonville has stabilized and he sees very little risk. “My philosophy is that risk is all relative to what you’re comparing it against. We’re dealing with real estate, so we’re dealing with something people still need. There is population growth, so as long as we are prudent and aren’t over leveraging and over paying, and conscious of what’s happening in the market, it’s as reasonable a risk as any- thing else in any other line of business,” he noted. •
Joel Cone is a freelance business writer based in Southern California. His articles have appeared in California Real Estate magazine, Real Estate Southern California, OC Metro, GlobeSt.com, Foreclosure News Report, the Los Angeles Daily Journal and the Smarter Investor blog for U.S. News &World Report, as well as many other print and online publica-
tions. Contact him at email@example.com.
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