All Forum Posts by: Georgeanna Tracey Newmones

I think this an amazing, and thanks for sharing.  Strategically done, it's definitely a "win/win".  I have not tried this but would be willing to do this with other investors. I don't see many "flips" in the AC market, but things are changing, and everything is up for grabs now. I had a four-unit recently sold for $109,900, and it will be brrrr for sure (once this is seasoned)and  I would love to see the numbers, and hopefully, others will follow and increase the values.   

The winter months are slow; however, the (holidays help) Thanksgiving weekend is jam-packed along with Christmas as families come together and celebrate the holidays. I live fifteen outside of AC, and my family books Airbnb for Thanksgiving weekend to all get together and cook without cleaning.  

Hi, what accuracy are your referencing? The market is prime for AIRBNB because it's a shore town with short-term rentals all throughout the city.  Check the Airbnb and VRBO and most of the numbers are in "real-time" and accurate. 

Hi Curt, AC is by far the best bang for your buck! There is no limitation on the areas in the city for STR, and depending on your budget, you should do well with STR. The market is very hot as with other areas; however, there is nowhere in NJ where you can purchase property near the beach for under $500,000. If you need an agent, please reach out; I am local and born and raised in the city. Best of luck and much success!

Hi Ryan, any of the SF homes are good for STR. However, the condominiums do not allow STR in the Gardners Basin area.

Hi Alex, congratulation on your new venture!! AC is prime for STR; most of the areas are already doing the STR; however, as stated by Ryan, you need to be cautious with the HOA's. AC has regulated a few areas in the city, and most areas in Venice Park, Chelsea, Bungalow, and the Gardners Basin are good (with a few exceptions). Many of the condos allow for summer rental but no STR, except for two, which allow for STR on the boardwalk. I am a local broker (born and raised in AC) who would love to help you get your feet wet. Feel free to reach out to me, or if you're in the neighborhood, stop by my office located at Executive, REALTORS 3817 Ventnor Ave. AC. Best wishes, and no matter what, it's all good when it comes to investing!!!!!!!

Hi Phillip, AC is one of the very few areas for lower-income investments.  Most properties are currently occupied and range from $150,00 and up (the higher-priced areas are all "a/b" areas, and the lower will be "c/d'.  Depending on the type of investment and the budget, you should be able to purchase if your patient (this is still a seller's market). Feel free to look me up as I am an AC native and full-time agent in the AC market. 

Hi Jose, there is more long-term rental in the city currently than STR; however, the numbers for short term rentals and, most importantly, the profits have been increasing at an amazing rate. AC is predominately a long term rental town with approx 70% long term rentals, and the numbers for Airbnb have increased significantly over the past few years. As stated previously by another member, the STR market is a more "hands-on" experience. It requires time and attention (along with a good crew of housecleaning, maintenance, and contractors). The city is very diverse, and STR are all over the city (although the city is tightening its rein in some areas); Venice Park, Bungalow Park, Chelsea Heights, Gardners Basin, etc., have lots of STR. Most condominiums do not allow for STR, but they will allow for LTR. No matter which you decide, I think you will have a great experience given the price of homes at the shore is far below the pricing in most resort areas.

The thread will not allow me to post the number however he is located at 1630 New Road suite c Northfield, NJ 08225. 

Lamont, the following are title company's I have personally used for my investor in the Atlantic City market:  Surety Title Company. 

1555 Zion Road Northfield, NJ, and Title Company of Jersey 1501 Tilton Road Northfield NJ.