HOLIDAY CITY, TOMS RIVER NJ???

Question

has anyone invested in this community.  i have heard it is solid but would love any thoughts from experienced investors or agents that know the area - look forward to responses.  thx all!

Larry Letizia · Answer

Leisure Knoll in Manchester currently allows investor opportunities. Most of the communities I'm familiar with have a restriction on rentals unless owned for a period prior to conversion to rental, 12 to 24 months, is typical. I've heard of as much as 60 months. So be careful.

Cash flow in NJ as you know and the 55+ community is always determined by R.E. taxes, HOA fees, Insurance and down payments. Prices this spring are up so cash flows may be off if you invest today. In years past and with certain properties, many rehabs / buy and holds have been completed successfully.

Of course buying right, first and foremost! Rehab work and the ability to access damages / needed repairs and make repairs cost effectively determines it all.

In the end, a nice, clean home at a fair rental price is always sought after.

A link to 55 plus communities https://www.55places.com/new-jersey it shows 61 communities in Ocean County.

If you e-mail me I can provide you a link to current rentals in 55+ within my areas covered.

Ken Lagana · Answer

interested in understanding vacancy rates in the area, specific communities that rent well, overall solid cash flow opportunities for  buy and hold.

Larry Letizia · Answer

I’m in Toms River and have invested in one of the retirement communities, so far so good, but it's early.

I also have a Real Estate affiliation to a Brokerage that specializes in these Holiday or Leisure 55 plus communities. What are you looking for? Is it HC Berkeley, HC Carefree, HC Heights, HC Holiday City, HC Silverton, HC South, HC West to name a few.

What questions do you have, I'll try.