Hi, I was just wondering what people thought about Atlantic City as an investment opportunity? I know it is a pretty run down area, but do you think it ever could come back? If so, I think it would be a great "buy low" opportunity. Just wanted to see what everyone thought about the area.

I may be a little "biased" since I am a local from the city and a Realtor ( Buy/hold investor) but here goes. Many areas in the city are thriving, such as Gardners Basin, Venice Park, Chelsea, Chelsea Heights, Monroe Park, WestSide, Bungalow Park, etc. Where on the east coast can you purchase property on the boardwalk (condominiums) for under $100,000 (Studio and one-bedrooms). I agree with the others as the city is definitely on the uptick with plenty already vested in the area. The city is predominately renters and second home market, making it an excellent opportunity for LTR and STR. Many investors in the area (from long ago) failed to raise rents and maintain their property (I see opportunities). We just rented two 2brs 1ba listed at $1,250 (my client purchased both units for $56,000 each with paint and carpet cleaning) and had an overwhelming amount of applications (which allowed us to cherry-pick the best applicant). You have to be open to the possibility others are wrong....you can only find opportunities when you dig deep for the gold!!

Hey @Rick Borgo We're actively investing in STRs in Atlantic City (with a non-STR investments as well) and are quite bullish on it. Beyond the casinos, Stockton University's presence has been a boon to the area. Atlanticare is continuing to invest. And several new local businesses are popping up throughout the city. There's still work to be done, but things are happening!

Account Closed - mostly answered in response to Rick but they do really well. It's definitely a lot of work -- far from a passive real estate investment -- but the returns dwarf almost anything else we've done. We're also doing major rehabs on these properties, so it helps to justify the work.Edit: Also, worth noting, the property I mentioned above is basically the smallest STR we own in town... Many are 2-3x the size of the house generating $72k/year and do considerably better

Thanks Account Closed! I got scolded by BP for sharing the link but glad you found it insightful!

will be listening to your podcast tonightthank you i really appreciate it

Really was into the idea of getting into AC myself, but a little thrown off by the Airbnb laws that they have in place. They are some of the strictest short term rental laws I've seen, and that was really the main value that I saw for it. Some of the hotels and casinos charge absolutely insane rates for weekends, and so having an affordable Airbnb in a nice part of the city would be awesome in my opinion.

Hey Account Closed!We agree 100% with Ryan on this one. We are actively investing in the market with STRs (single and multifam). We feel good about the up-and-coming projects happening as well as the buzz. To also add another very exciting development to the list mentioned above is the mini-golf course that is currently slated to open in May 2022. These are all great family-friendly projects that we hope will help the area. We are also a huge fan of the Brick x Brick podcast... if anyone ever wants to connect just reach out!

just wanted to say, great podcast everyone else ITT should check it out, tons of valuable information

mind giving some insight on how your STR have been doing? any specific area in AC youre investing in?

its very tempting with all of the inventory on market there but population has been declining and average income per household is sub 30k. If the state government could provide assistance it would be more appealing but on a state level we are also losing population and are largely insolvent so without amazon or google creating a campus there seems like it will be a long uphill battle:my 2 cents:

Thoughts on Atlantic City?Thoughts on Atlantic City?

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