Updated about 13 hours ago on . Most recent reply
Seeking Guidance for My First Full Investment Property in Atlantic City
Hi everyone! My name is Isaam Brown. I'm 25, living in the Atlantic City area of Southern New Jersey. I got into BiggerPockets because I'm aiming to invest in my first official real estate property that I can fully manage.
A little background: I bought a home back in 2021, and while I still own it in a sense, I had to sign the rights away due to a financial bind at the time. That means I do get monthly cash flow from it, but I don’t have the rights to the equity or any control over the property. I also still have the mortgage on that home, so it's a bit of a unique situation!
Now, I'm really looking to invest in the Atlantic City area again and figure out the best approach for my first real solo investment. I'm torn between a traditional rental, trying out the BRRRR method, or maybe even mobile homes. I'm here to learn, meet folks in the market, and get guidance on all the nitty-gritty details—like how much to save and what steps to take. Really excited to get started and learn from all of you. Thanks in advance!
Most Popular Reply
Stay away from mobile homes, money pit. With that being an attractive vacation market you could do an Airbnb. More risk but higher returns. I have both an Airbnb as well as a long term rental. The Airbnb requires much more hands on management but I make good money vs the long term property it's very easy (I manage it from across the county) but returns are lower. That being said, my one piece of advice to you is that either one you choose, get started with the right software. I did a ton of research and use Baselane to handle both properties. It helps screen tenants. Totally free and automates financial management for you. It's the best!