Dover, DE · Member since 2017 · 60 posts · 19 votes
So I am a investor here in Delaware but I want to know why do investors in New Jersey just invest in Northern Jersey? I feel like southern Jersey would also be a penetrable market to invest in so why not capital the opportunity there? is there something that I just don't know? I am just curious to know the answer why because I always meet investors that invest just in Northern Jersey and never South Jersey like Pennsville so if any investors on BP can answer my question, it will be well appreciated because this is something that I just don't understand.
Contractor · 08234 · Member since 2016 · 253 posts · 178 votes
9y
Hi Donovon Rogers
I invest only in south jersey. It's sometime hard to find the investors here if your not at local events, like the SJREIA.
Do you have any questions about the market?
Dover, DE · Member since 2017 · 60 posts · 19 votes
9y
@David Weintraub thanks for telling me about SJREIA. I'm going to have to go to one because I need to know more investors around that area
@Account Closed Yes I have a few questions about the market in south Jersey. I wanted to know is that market good for Turnkey buy and hold investing? or is it good for just fix and flips? because I never heard of a buy and hold investor in South Jersey but I know there has to be some
Contractor · Franklinville, NJ · Member since 2013 · 183 posts · 86 votes
9y
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.
Contractor · 08234 · Member since 2016 · 253 posts · 178 votes
9y
Donovon Rogers
Investors are buying both buy and hold strategies in south jersey. I buy flip and holds because I'm looking for the most cash flow right now and I also live here so I can manage the construction. The turnkey investors tend to be out of state or people looking for appreciation and minimal work.
Dover, DE · Member since 2017 · 60 posts · 19 votes
9y
@Account Closed ohh ok. that makes a lot of sense now because i've been looking for investors for 3 days now to connect with them but I can only find investors up north so I was wondering what was the problem with south jersey but now I have a better understanding of it so thanks Will
Dover, DE · Member since 2017 · 60 posts · 19 votes
9y
@Kurt Kwart I actually know a handful of investors in Northern NJ but I want to make sure if there was even a market in southern NJ because I had never came across investors in south jersey
I am looking at a few multifamilies from Gloucester City(20414) and Brooklawn Boro (20407)for investment purpose. Tenants are in place with good rental history. The houses come in Camden County so I was wondering how are these two cities and nearby ones for investment purpose? I am looking at job/ business economy, crime etc. I have heard that people living in these cities generally travel to Philadelphia for work.
Contractor · 08234 · Member since 2016 · 253 posts · 178 votes
9y
Dipti A.
Gloucester city is good for cash flow not so much appreciation. The CO inspections are a little rough though, same with permits. Brooklawn Boro is another good cash flow area and depending on where you are in the town potential appreciation.
Anyone else know anything about these towns?
Thank you. I am considering a buy and hold for at least 5-6 years with good tenants in place. So the current focus is definitely cash flow. appreciation will be a bonus for sure.
Can you please explain why the permits or CO are difficult to get in these towns? The properties I am looking at are legal multi-family so I am assuming they must have taken proper permits when they constructed the homes. But I rather not assume.
A few years back, we were looking to invest in a multifamily to basically house hack and rent the other units. But the owner did not have valid permits for all the units ( he had for some). Numbers were working fine but with the fines and permits, it would have been a costly mistake. So we decided to not follow the deal but by then wasted precious time to invest, this time around I want to do a good due diligence.
Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
9y
I'm in the process of a BRRRR in Burlington NJ and looking at property in Lower Bucks county, Pa. I need to be a little more active in the South Jersey community but time is not something I have an abundance of at the moment.
@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.
Contractor · 08234 · Member since 2016 · 253 posts · 178 votes
9y
Dipti A.
The CO and inspections are hard because they take a long time because there are a bunch of items in the inspections and permits. So it delays a lot of sales and tenants moving in. But just like anything else in business you just have to learn the strategy for the area. Ex: factor longer hold times, learn the inspection regulations, make friends with the inspectors and town officials. Etc
Investor · Merchantville, NJ · Member since 2012 · 2 posts · 3 votes
9y
SJREIA.org has over 600 members, most live and invest in south jersey which is mercer county and below. there is one of the long time members who has over 100 properties in the salem county area... we have meetings each week somewhere in south/central jersey. check the calendar on our website for details.
Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes
9y
@Donovon Rogers, if I'm correct, there's just ONE reason why, given the choice, EVERY Investor would go for North New Jersey, rather than South. But I don't really need to spell that reason out, do I? (One word: starts with c, ends in e)...
Dover, DE · Member since 2017 · 60 posts · 19 votes
9y
Brent Coombs I don't know what you mean? South Jersey looks like a good buy and hold investment especially around Pennsville so I don't understand why there aren't more investors there
I've been investing in buy and holds in south Jersey (gloucester county) for about 8 years just because I live here. I know of several other flippers and buy and hold guys in the area although none of them are on bigger pockets.
Specialist · Delran, NJ · Member since 2016 · 2k+ posts · 951 votes
9y
@Donovon Rogers my theory is it's not an obvious market. A lot of south Jersey investors come from...south Jersey. Some come from PA but there's plenty of investment opportunities that may be closer to home for them. Same for northern NJers. You hear much more about investing in north Jersey because a lot of New Yorkers are priced out of investing at home so they invest in the next closest place over the bridge. IF you don't live here or have ties here it's not necessarily the most exciting market to invest in from a distance.