Woodbury, NJ - information welcomed!

[Joe P.]

Hi all - does anyone have any information about investing in Woodbury, NJ? Looking at a few properties there but would like to know about any "gotchas" -- crime, flooding, tough local government, special rules, etc.

I would appreciate your insights!

[Mike Bonadies]

Hey Joe - 

We've spoken before on Woodbury but I figured I'd provide this information for anyone else who may be curious and to help spark the conversation.

Woodbury is very similar to Gloucester City in the sense of demographics, rent roll, house conditions, and tough local government.

Its a blue collar town with moderate crime. The buildings, especially the multi-families, are old so do extra due diligence when estimating repairs. That said its the seat of Gloucester County so it will always be an economic hub in some shape or form.

ARVs on duplexs float anywhere around 120 to 160ish after they are rehabbed.

-MB