Success with short term rentals in Newark, NJ

Newark, NJ · Member since 2014 · 21 posts · 4 votes

Investment Info:

Single-family residence buy & hold investment in Newark.

Purchase price: $205,000
Cash invested: $20,000

Purchased a single family property with an FHA loan and one year later I am using the property for short term rentals and making around $2,000 in cash flow per month.

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Argenis Henriquez
Member since 2020 · 1 post · 0 votes
5y
Air BnB type short term? Didn’t know there was a good market for that in Newark.
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Adrienne Jordan
OP
Newark, NJ · Member since 2014 · 21 posts · 4 votes
5y
@Argenis Henriquez yes Airbnb and its pretty in demand here...there are healthcare workers, nurses, students, and young professionals work from home that need short term housing.
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Terrell Garrett
Newark, NJ · Member since 2021 · 3 posts · 0 votes
4y
Any experiences w/ renting to travel nurses via furnished finder? I'm a new a investor in Newark (Weequahic) and am considering exploring STR for travel nurses since I'm super close to Beth Isreal. Any insight you can share is greatly appreciated!! @Adrienne Jordan
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Adrienne Jordan
OP
Newark, NJ · Member since 2014 · 21 posts · 4 votes
4y
Hi Terrell, I tried that platform but it wasn't effective for me personally. I recommend Airbnb and you can promote your location near Beth Israel in the title of your listing. "2BR Apt 7 min walk to Beth Israel" and you should see some good action. What kind of property do you have @Terrell Garrett
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Terrell Garrett
Newark, NJ · Member since 2021 · 3 posts · 0 votes
4y
Thanks for your quick reply!!

It's a 3br/1bth in a multifamily. It's a new vacancy and I'm considering going the STR route rather than traditional tenancy. Given my proximity to the hospital, this seemed like a chance worth taking, but wanted to do my HW first. @Adrienne Jordan
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