So I am a investor here in Delaware but I want to know why do investors in New Jersey just invest in Northern Jersey? I feel like southern Jersey would also be a penetrable market to invest in so why not capital the opportunity there? is there something that I just don't know? I am just curious to know the answer why because I always meet investors that invest just in Northern Jersey and never South Jersey like Pennsville so if any investors on BP can answer my question, it will be well appreciated because this is something that I just don't understand.
There are so many
Just came from SJREIA. Met at least 10 new ones tonight.
I invest only in south jersey. It's sometime hard to find the investors here if your not at local events, like the SJREIA.
Do you have any questions about the market?
@David Weintraub thanks for telling me about SJREIA. I'm going to have to go to one because I need to know more investors around that area
@William Lees Yes I have a few questions about the market in south Jersey. I wanted to know is that market good for Turnkey buy and hold investing? or is it good for just fix and flips? because I never heard of a buy and hold investor in South Jersey but I know there has to be some
Some south jersey investors live 1600 miles away, so the only chance of finding out about them is to ask on BP ;) I have property in Salem which is practically Pennsville.
Investors are buying both buy and hold strategies in south jersey. I buy flip and holds because I'm looking for the most cash flow right now and I also live here so I can manage the construction. The turnkey investors tend to be out of state or people looking for appreciation and minimal work.
@William Lees ohh ok. that makes a lot of sense now because i've been looking for investors for 3 days now to connect with them but I can only find investors up north so I was wondering what was the problem with south jersey but now I have a better understanding of it so thanks Will
@Kurt Kwart Man that was a hilarious video lol
There are plenty of investors just more up north @Donovon Rogers
Thanks for all the mentions of SJREIA (South Jersey Real Estate Investors Association)!
@Kurt Kwart I actually know a handful of investors in Northern NJ but I want to make sure if there was even a market in southern NJ because I had never came across investors in south jersey
@William Lees, @Charlie Hampton, @ David Weintraub
I am looking at a few multifamilies from Gloucester City(20414) and Brooklawn Boro (20407)for investment purpose. Tenants are in place with good rental history. The houses come in Camden County so I was wondering how are these two cities and nearby ones for investment purpose? I am looking at job/ business economy, crime etc. I have heard that people living in these cities generally travel to Philadelphia for work.
Gloucester city is good for cash flow not so much appreciation. The CO inspections are a little rough though, same with permits. Brooklawn Boro is another good cash flow area and depending on where you are in the town potential appreciation.
Anyone else know anything about these towns?
Thank you. I am considering a buy and hold for at least 5-6 years with good tenants in place. So the current focus is definitely cash flow. appreciation will be a bonus for sure.
Can you please explain why the permits or CO are difficult to get in these towns? The properties I am looking at are legal multi-family so I am assuming they must have taken proper permits when they constructed the homes. But I rather not assume.
A few years back, we were looking to invest in a multifamily to basically house hack and rent the other units. But the owner did not have valid permits for all the units ( he had for some). Numbers were working fine but with the fines and permits, it would have been a costly mistake. So we decided to not follow the deal but by then wasted precious time to invest, this time around I want to do a good due diligence.
@William Lees said it perfectly. I wouldn't invest there for appreciation unless its forced through rehab. I invest for the cashflow which is why I like the lower income areas. Had my strategy been appreciation I don't think I would put my money there. I have friends that live in gloucester city/brooklawn so I used to be there all the time.
Thank you @Charlie Hampton
This really helps. I am looking for cash flow as well. We will be looking at these properties in coming days, so keeping fingers crossed!
The CO and inspections are hard because they take a long time because there are a bunch of items in the inspections and permits. So it delays a lot of sales and tenants moving in. But just like anything else in business you just have to learn the strategy for the area. Ex: factor longer hold times, learn the inspection regulations, make friends with the inspectors and town officials. Etc
SJREIA.org has over 600 members, most live and invest in south jersey which is mercer county and below. there is one of the long time members who has over 100 properties in the salem county area... we have meetings each week somewhere in south/central jersey. check the calendar on our website for details.
I have been investing in southern New Jersey since 1976. There are investors here
Thank you @William Lees
I will keep it in mind when we visit the houses.
Thank you everyone
@Donovon Rogers , if I'm correct, there's just ONE reason why, given the choice, EVERY Investor would go for North New Jersey, rather than South. But I don't really need to spell that reason out, do I? (One word: starts with c, ends in e)...
@Brent Coombs I don't know what you mean? South Jersey looks like a good buy and hold investment especially around Pennsville so I don't understand why there aren't more investors there
Hi @Donovon Rogers ,
I've been investing in buy and holds in south Jersey (gloucester county) for about 8 years just because I live here. I know of several other flippers and buy and hold guys in the area although none of them are on bigger pockets.
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