South Jersey Landlord/Investor Networking

[Steve Boianelli]

I'm reaching out to my fellow South Jersey Landlords/Investors. I'm looking to change markets and looking for recommendations. I'm searching for C/C+ towns. Currently I'm have a number of properties in a D/D+ town but I'm looking for something new. Any insight would be much appreciated. Typically I invest in single family and multi-family homes but I'm open to new ideas.

[Lauren C.]

Hi @Steve Boianelli and @Chris Connery

I spent almost two years looking for a good deal in Collingswood and couldn't find anything that was cashflow positive after accounting for capex, vacancy, repairs, etc. so I expanded my search to the surrounding towns and closed on a duplex in Haddon Township that we're just finishing up renovating. I agree that Collingswood is the "it" town right now but it's hard to find a deal that works.

While I don't know too much about college rentals, I did attend Rowan University and rented from an investor who arguably owns most of the rentals in town so I'm familiar with the renting by bed concept as apposed to the unit. More on investing in the Rowan area can be found in this thread here. 

A friend of mine invests in Gloucester City and I've looked into the market but the town as a whole doesn't seem to be thriving. It would strictly be a cash flow play with no sign of appreciation anytime soon. 

Just my two cents. Hope this helps!