Buying and holding in the Atlantic city market

[Rizwan Khan]

Hey guys I was just wondering what everyone's thoughts are right now on the Atlantic city real estate market. Would love to have everyone's feedback

[Kurt Kwart]

Originally posted by @Franco Li:

Hi there! I don't know much about that market, but hasn't Atlantic City itself been a bit down over the years? I believe the casinos are not really attracting a lot of attention anymore, so that probably means less employment in that area versus the last 5-10 years. I guess you can rent it out anyway given the location. I would consult with a property manager in that area, or even check the local listings to test the temperature.

Hi @Franco Li 

the gaming revenue has been cut in half since its peak in 2006. It is now around 2.5 billion/year 

but room occupancy & food/bev numbers are great.  During peak holidays, all hotels/motels are sold out (even with airbnb exploding here). there are jobs and more jobs coming back.

I understand all the negativity but I'm an optimist and it has worked out here for me