Hi BP Community,
I currently have a rental property in Philadelphia and I am looking to expand into South Jersey. I have been watching all the development and and corporations that have been and are moving into Camden (Campbells Soup, Conner Strong, Subaru, Cooper Hospital, Rutgers University and more). Camden City still seems to have not so desirable areas, but with these companies, I think more people are looking to relocate closer to the city. I have been looking at Oaklyn, Haddon Township, Haddon Heights, Barrington, for buy and hold single family rental properties. These towns have a small downtown main street feel and I think it may be a great market for these properties. I have been researching these areas for the past few months and am looking for any other thoughts/advice about these areas.
Thanks in advance!
If you're not going to live in the property Camden is a better bet cash flow wise. No rental market in that vicinity on the jersey side cash flows like Camden does.
I agree with @Zach J. Arsenault - it really depends whether or not this is going to be a pure investment or a "house-hack"
High property taxes make it difficult to purchase a home, rehab it, and put out as a rental. But it is possible to be successful if you can get into the deal at the right price...as with any other deal. Camden is easy (in theory) because of the extremely low property tax (compared to the surrounding areas). However, when looking to secure a property in Camden, many are tied up with tax or utility liens.
Contact me offline. I live and wholesale in this area, so I am able to help you find what you are looking for.
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