All Forum Posts by: Ray Lamboy

Hello Inemesit and Paul:

Greetings from Camden, NJ.  It's great that you both are interested in the city.  It's been in the news a lot lately.  There is opportunity but I would say proceed with caution.  There are quite a few investors who are members of the South Jersey Real Estate Investment Association https://www.sjreia.org/ who are actively investing and could give you some insights into the dos and don'ts in the market.  Consider joining if not just for the networking opportunities.

A good place to start in looking at places like Camden is to identify the path of progress going through the city.  I would suggest looking at the redevelopment plans for the city, you can find them here,  http://camdenredevelopment.org/Plans.aspx.  The city is pursuing an Eds and Meds strategy for redevelopment. They've invested greatly around Rutgers University, Cooper Hospital, Virtua Hospital and Our Lady of Lourdes.  Neighborhoods adjacent to these facilities are a good bet, but there is a strong speculative environment right now.  Off market deals may be your best bet.  

Camden is a city of neighborhoods.  So when talking to real estate pros, investors and residents use the neighborhood name in your discussions.  Here is a map with the neighborhoods and their names - https://www.neighborhoodscout....

If you're looking to take on some risk, strong neighborhoods away from the Eds & Meds include: Cramer Hill/Pavonia, East Camden and Parkside.  

If you want to go off the deep end on risk, Fairview, North Camden, Waterfront South & Central, Bergen Square, Morgan Village, Whitman Park, Centerville and Gateway are some of the choices for deep discount/high risk/high maintenance - fix and flip or buy and holds.

On bank financing, your going to run into some trouble.  With the speculative environment, properties are prices with the future in mind, not the present.  Thus properties will not appraise.  Cash is king in this environment.

I hope this helps.  

Best, 

Ray Lamboy

Real Estate Investor 

Camden Resident