Camden, New Jersey Rentals

[Tiffany Campbell]

Hey everyone. Hope to get some advice on Camden. It has a horrible reputation and high crime/drug rate, but all of Camden can't be bad. I am seeing some properties located close to Philadelphia and close to the Delaware River. Most of the properties are describes as a low crime area, so I wonder what the real scoop is on Camden.

1. Can there be a decent buy and hold rental in Camden? (experiences)

2. Can I get at least $1,000 in rents?

I see properties I can afford cash and need some guidance?

Thanks BP fam!

[Richard S.]

For what it's worth, I met an uber driver who asked what I did and then proceeded to tell me he has also started investing. Area of choice? Camden. He said the houses are so ridiculously cheap that you can pay cash, rent them easily, and most of the tenants are on government funded housing so the govt writes you a check each month. He said it's worked out very well for him. This was about 2 years ago now, but I'm sure he's killing it around that area. I'd highly recommend it if you are OK dealing with the type of tenants you'll be renting to. I don't think a PM company will go anywhere near it. Also, I'd expect the rents are way lower too. So even if you're getting your houses at $30-$40K you might be looking at $800/mo.  Do your due dilligence on the rents for the area in which you want to buy and make sure they still back out with the possible rent and don't get too caught up by the seemingly fantastic sale prices. 

From what I recall he said his breakevens were about 2-3 years tops.