Thoughts about Pitman NJ (Gloucester County) Market

[Winnie Cheng]

Any insights on Pitman NJ market? Is it worth investing into? Fix and Flip or Buy and Hold?

[Mike Bonadies]

@Winnie Cheng -  I would echo the thoughts of @Stephen Kappre. Rowan Uni has manifest destiny going on right now and the college is exploding in both student base and employees which makes the surrounding towns and excellent place to invest. That said, there is more potential for fix & flips then buy and holds due to the high taxes of Pitman. Pitman's proximity to Rowan makes it a common searching place for starter homes. Many friends of mine have personally bought there for their first home. All of them being flips.

Here are some things to watch out for or things I've seen in most distressed Pitman houses:
-Knob & Tube is rampant due to the ages of the house, be sure to verify the electrical service and type.

-Flooding basements are common in Pitman because most are unfinished. Check for water damage.

-Foundation structure is another to look out for. Most distressed Pitman properties I've walked have had deterioration of the walls of foundation or of the load baring structures. I've even found a house with the original timber pylon still intact and functional.

None of these issues are show stoppers just make sure to verify it during your walks and bake it into your offer. If you are looking for cashflow Glassboro & Clayton can serve you better.

-Mike