All Forum Posts by: Nelly R.

@Josh Saladino Thank you! I chose Camden to invest because I live nearby (30 min away), used to work in the area, and I'm more familiar with it. Also, homes are much lower priced compared to the surrounding cities (acquisition cost and property taxes), yet the surrounding areas are beneficial (hospitals, Rutgers, Philly is 5 min away, etc). I've never considered the other areas (Newark, Irvington, etc) as they are further up North and I could do just as well in South Jersey. I'm not against other areas though. Again, I have friends that are doing extremely well up there! Heck, I'd even go out of state if the deal is great! Lol

@Joe Edwards My last 2 rehabs for SFH have been an average of $40-50k. Not sure about MFH because I don't own any. I purchased low so that I can do complete rehabs and know that majority of the home is new (less issues in the future). I do my research and buy in areas that are comfortable for me and that will get higher rents (including Section 8). My properties are near Cooper Hospital, charter schools, and in more family oriented areas. One of my homes I paid $24k, put in about $50k (my choice to do everything new....and tbh, I overpaid for some things), and it appraised for $130k. Not all of the homes will get these numbers, but many will.

Section 8 is big there but not all of my tenants are Section 8. All of my tenants are paying (thank God). It doesn't matter where you invest, vetting your tenants well is key. To be honest, I'd prefer Section 8 at a time like this, but that's just my preference. Investing in areas like Camden yield great returns for me, but also for me the picture is bigger. Maybe I'll get into higher priced, more prevalent areas at one point in my life but for now, I'm good! Everyone has an opinion on these areas. Some are backed by experience and others are backed by what they've "heard". I could go on for days telling you people's opinions on investing in Camden when they've never even stepped foot into the City or know nothing about it! I have friends that are doing extremely well in all of the areas people warn others to "stay away from". Camden, Newark, Irvington, Paterson, etc. We are all not the same. I do what works for me!

@Frank Robinson I hit the 2-3% rule on all of my properties. I would never aim for 1% in this area.

@Frank Robinson Hey there. It really varies, depending on the specific area and type of property (upgrades). On average: 1 bedroom: $800-900, 2 bedroom: $950-1100, 3 bedroom: $1150-1300+. Again, this really depends on the area and if the home has been rehabbed.

@Jacob Chambers welcome back to NJ! I am a Realtor in South Jersey and also a buy/hold investor. Let me know if I can assist you in any way. In my opinion, any deal where the numbers work is a good deal to me. Doesn't matter if it's in NJ or Japan! It depends on your goals, your system, and your ability to build a solid team. Good luck!

@Matt Daley Oh, sorry....I didn't really answer your question! I know people who invest in Township and they say they are sticklers with licensing and inspections. I could only imagine that City is the same.

@Matt Daley Hi! Burlington City and Burlimgton Township are very close in proximity but very different in terms of property cost, taxes, rents, etc. If you're referring to Burlington City, there are city/downtown parts and another side of Burlington City (across Route 130) that's more suburban. I believe you will have some rough patches in most cities and this is no different. It's a decent area for rentals because the rents are higher and Section 8 will probably pay more as well. There's also a waterfront in City, as well as lots of restaurants, bars, etc. And they are currently building waterfront condos as well. Let me know if you have anymore questions about the area. Good luck!

@Darcy Reynolds Nice! At least you got into one! Good luck!

@Darcy Reynolds I second The Real Estate School! Michelle is amazing!

@Bart Sklar Hey! What area of Camden is the duplex in?