Is this area decent for cashflow investing? Is it safe? I am not too familiar with the rental demand over there.
Please share your thoughts. Thank you so much!
Parts of Deptford can be great, but there is not much residential around the mall or big shops, so most of it is a B/C neighborhood I would say. Almost all of Woodbury is a C class neighborhood and is relatively safe (father operated business here for few years and was fine, although he got a few crazy customers). There are occasional violent crimes in the area though; not somewhere you would want to roam alone late at night. I know an investor that is doing well in the town with Section 8 tenants. I do not personally see much appreciation occurring in Woodbury, especially with the staple Inspria hospital to be moved to Glassboro soon.
When is Inspira scheduled to move into Glassboro?
Woodbury is great for cashflow. I own a 4 unit building about a block from inspira Hospital. I bought this building despite their move. There certainly won’t sit a giant vacant Hospital there. Areas to stay away from are the pocket south of Cooper street and east of Broad st. I’m sure you can make money there, but it’s not pretty.
I recently flipped two properties and have a third that is in progress. There is a lot to be gained in this township and it requires good analytics of where you spend your money.
I will warn you, if you purchase in Deptford, pay close attention to the CO requirements. Deptford is working to improve the overall appeal of their town and have a very intricate CO inspection. They have a list to follow so the inspection will go smoothly and I highly suggest you abide by it.
Let me know if you have any additional questions!
That is one of the area's that i am looking to flip in.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing