All Forum Posts by: Charlie Hampton

I had to hold/store the tenants belongings for up to 30 days upon eviction in NJ, so I would ask your attorney before you just toss their belongings out onto the lawn....

Two thoughts:

1) Be careful with your renovation costs.  Bridgeton is tricky, as there are alot of distressed homes that will keep the value of your property down when you go to do a refi.  I made this mistake early on with a duplex and now have a lot of cash stuck in it (it cashflows great so its not a huge concern).

2) Who promised you a 4% rate on an investment property?  I would be skeptical of that rate. If it is correct, please pm me the lender so I can refi a few properties in SJ.

Good luck!

@Dipti A. 

@Account Closed said it perfectly.  I wouldn't invest there for appreciation unless its forced through rehab.  I invest for the cashflow which is why I like the lower income areas.  Had my strategy been appreciation I don't think I would put my money there.  I have friends that live in gloucester city/brooklawn so I used to be there all the time.

Some south jersey investors live 1600 miles away, so the only chance of finding out about them is to ask on BP ;)  I have property in Salem which is practically Pennsville.

I agree with @Lauren C. in saying the boom already happened.  I graduated there in 2010 just before the boom.  Doesn't mean there aren't still deals to be had though!  I commuted, but I would have to say if its within walking distance to a bar (Landmark) then students will rent it.

Curious where in south jersey? Feel free to pm me.

Fun fact, Conroe was recently ranked the fastest growing city in America!

Congrats on sticking with it!  I know what its like to deal with those "this has never happened" scenarios. We both must be magnets for them!

Grab a reglaze kit from Home Depot.  They are easy to do and come out great!

You can get great cash flow in the warzones of SJ if you're willing to venture there. Salem, Camden, etc... I've got property there, it works if you're never expecting appreciation.