Atlantic City Investing

[Eric V.]

I am looking into investing in Atlantic City. I saw the prices are low and I believe the city is on the rebound. Does anyone wholesale properties in Atlantic City? Looking to buy,rehab, and hold single family and multi family properties. I am not too familiar with the city so does anyone have recommendations for an agent that works well with investors and knows the rental market well. I am not familiar with the different parts of the city and different rental rates through out. Thanks in advanced.

[Christopher Crean]

I lived in AC for years and now reside just off island. There is plenty of potential investments in the city, and the prices are reflecting it. A lot of people snatching up vacant lots and run down properties especially on the south end near the new Stockton University campus and the new business park going in next door. The Tenn Ave project is just getting underway, and it is in a terrible area that they are hoping to turn around. If you buy near it for that, plan on it taking a long time to appreciate and be worthwhile. We are talking bad neighborhood. 

The taxes are very high yes. On a good note you can get waterfront property for far less than any other shore town.

AirBnB is risky if you don't know the area. You must know the good and bad parts of AC, and there are unfortunately plenty of bad, and they are interspersed with the good unlike other cities where you can stay out of certain neighborhoods. In AC it is a block by block situation.