I am seeking advise from local new jersey investors preferably in central jersey and who have invested in homes along the coast. I've been looking at homes from south amboy- atlantic highlands area figuring out were would be the best area to start. I'm very curious to know how it is investing in areas like keansburg, middletown, and cliffwood beach. lower end homes <120k. i do know these types of homes don't attract the greatest of tenants and that's why i'm making this post now.
have you had trouble finding renters for these homes?
have you had trouble keeping renters?
do you do the bare minimum to these lower grade homes to just make it livable or do you stick to completely renovating?
well, i live in Keansburg, and i truly believe that if you purchase a property, (as a rental) and it needs alot of work, get the work done correctly and fix it up. If the job is done incorrectly, things will wind up breaking, and tenants will more then likely keep calling you. The finishing do not have to be luxurious, but has to be good quality finishing.
I had to lift my house because of hurricane sandy, and i have done alot of work myself inside, and probably went overboard on the finishing, like quartz counter, high end backsplash, huge deck, high end bathroom, etc, but it is my home. I know it would pay out in the long run once i sell my home. If you are flipping a house, you may want to put a few higher quality finishing, this will attract a higher end buyer, and will actually make keansburg a better place to live because it would be a higher class of people purchasing the property.
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