Investing in Whiting, New Jersey

[Robert Yarnell]

Hey guys! This week I drove through Whiting, Manchester Township, and Lakehurst, New Jersey on my way to pick up a marketplace item for my son. On our way home I diverted a little bit in the Whiting area since i recognized one of the homes from my morning search I had done. When I came home I started to dig into the area and I quickly learned there is a niche market for 2/1 homes for retirees. Unfortunately it seems like most of the area is 55+ co-ops, but I wanted to ask if anyone has experience flipping in this area. There is good potential there, but in addition to the age restrictions I wonder what restrictions might exist in regards to exterior modifications (color, siding material, windows, landscaping, etc.)

One co-op I was reading about today had their agreements accessible, and it read like 1 of the applicants need to be 55+ and then other applicants just need to be older than 19. Is this an easy workaround to invest in the area is to partner with someone 55+?

Any help/suggestions on this area is appreciated. I need my first deal, but it needs to be all cash deal no more than $35K for the property, then up to a $35K rehab budget.

Thank you!