Updated over 6 years ago on . Most recent reply
New investor—Jersey Shore?
Hi—potential new real estate investor here! I’m excited about the opportunity, but would like some advice/ideas from this community. My interest is investing in a vacation rental property in the Jersey Shore. Ideally would have a modest cash flow, but breakeven is acceptable to access tax and personal use benefits. My biggest concern is the ability to accomplish this since I would be relying on a few months of rent to cover the annual costs. Interested in Wildwood, NJ. $200k condo 10-15% down. Any advice? Any experience on vacancies during summer months? Thank you!
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Wildwood is not as bad as they make it out to be. It has high crime Compared to the rest of the county but relatively low for a low income area. the closer you are to Wildwood Crest and North Wildwood the safer the areas are. Also the area a block or two from the boardwalk are safer. IF you don't know the difference of the 4 towns that make up Wildwood I would call a local realtor and chat, they will be happy to talk about the island.