Buying Multi Family In Atlantic City During Pandemic

Realtor · Monmouth County · Member since 2020 · 95 posts · 37 votes

I am looking to buy a couple of multi family properties in Atlantic City as I am seeing a great potential for buy and hold. However, I am worried that due to this pandemic, AC will now take longer to recover or to implement all the great ideas it had in its redevelopment plan to bring AC back to it's great days. On the other hand, if I wait after pandemic or longer, I might not see these great prices for multi family properties within blocks of the beach again. Anyone out there that owns properties in Atlantic City? I would like to hear the opinions and views of other investors out there that have bought in AC or are thinking of buying in AC.

0 Reply

29 views

6 Replies

Jump to latestLatest

Sort by

Kurt Kwart
Specialist · Atlantic City, NJ · Member since 2013 · 431 posts · 170 votes
6y
the city is very diffrent block by block. there are def issues that are affecting the current climate and police but that is in most cities right now. we have not had the significant increase in gun violence that other cities are seeing which is good and the police have a decent relationship with the community
i'm doubling down on areas i like and getting out of property/areas i dont like now
0 Reply
Yonia B.
OP
Realtor · Monmouth County · Member since 2020 · 95 posts · 37 votes
6y
@Kurt Kwart Do you live in AC? What areas would you suggest/advise I stay away from? Do you do rentals or just airbnb? My fear with AC is that the rentals are dependent on casino employees and with the casinos on the decline I am afraid so are the renters. I want to buy for long term rentals and probably just do one of the units for an airbnb (eventually). Love to hear your input.
0 Reply
Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
6y
I have a good friend who has several properties there. Some annual rentals and some Air BnB. Happy to connect you. He has another one under contract now as well. DM me and I will connect you. I don't know that market well, but he does.
[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
Zen and the Art of Real Estate Investing59 Reviews
Website View Page
0 Reply
Michael P.
Marlton, NJ · Member since 2017 · 129 posts · 16 votes
6y
Atlantic city has been going downhill for years. My parents in law own a home just 10 minutes from AC, and you are going from Poverty, into multi million dollar homes. Downtown AC is a ghost town, I would stay clear.
0 Reply
Kurt Kwart
Specialist · Atlantic City, NJ · Member since 2013 · 431 posts · 170 votes
6y
Originally posted by @Yonia B.:
@Kurt Kwart Do you live in AC? What areas would you suggest/advise I stay away from? Do you do rentals or just airbnb? My fear with AC is that the rentals are dependent on casino employees and with the casinos on the decline I am afraid so are the renters. I want to buy for long term rentals and probably just do one of the units for an airbnb (eventually). Love to hear your input.

I live in Ventnor now but lived in AC for many years. I've sold most of my yearly rentals to just focus on the "orange loop" area short term rentals. it is still up and coming there where as closer to ventnor in more money but no drama. if you look at a crime map that gives you an idea of where the issues are but short term does work even in these areas
0 Reply
Kurt Kwart
Specialist · Atlantic City, NJ · Member since 2013 · 431 posts · 170 votes
6y
Originally posted by @Michael P.:
Atlantic city has been going downhill for years. My parents in law own a home just 10 minutes from AC, and you are going from Poverty, into multi million dollar homes. Downtown AC is a ghost town, I would stay clear.

AC has been full of people all summer
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.