All Forum Posts by: Michael Scanlon Jr

Depending on the neighborhood, you can expect 800-900 a month. Currently there is a demand for rentals of all sizes. I’ll PM you a few contractor contacts.

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Does anyone have experience in hotels? What to expect? I recently purchased two in South Jersey the deals were to good to pass up. They are doing very well but I was looking to see if anyone has advice on how to take a smaller hotel over the top?

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I am purchasing a motel, I was wondering if anyone had a good website or anywhere to buy things in bulk. Also if anyone knows a good website to buy the key card entry system door locks. (The place still uses actual keys). I've been doing my research but if anyone already involved in motel/hotels has any tricks, tips or information

Any and all help is greatly appreciated

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@Kurt Kwart yeah the way it’s ran now is all weekly. In the summer I’m thinking maybe do 1/3 weekly the rest nightly. I can’t believe how much they get a week for the WHP motels lol.

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Hello, Does anyone have experience in commercial lending specifically financing on a motel/hotel, either as a borrower or lender? I'm looking to purchase a motel and was looking for potential financing and I have a few questions for anyone familiar with this sort of thing.

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Hello, So for the last 4 years I've been buying up rentals in the Atlantic City NJ area but I am purchasing my first motel, 21 rooms. I am going to rent 12 rooms out for weekly longer term tenants and the other 9 will be nightly. The weekly tenants are elderly, construction workers etc... no drugs. Does anyone have any advice or anything that could make my life easier and the motel more profitable?

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I own property in a few bad areas in AC and I’ve recently seen people putting up Air BnB’s in very bad areas (Indiana and hummock on the west side,’I also saw a few uptown. Which again is bizarre to me and very very dangerous. Especially since I see the tourists aimlessly walking around.

Originally posted by @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.

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Atlantic City is hit or miss, you need to do your homework on the area and location of your property. I wouldn't advise investing in AC until you do your homework. I've been buying a lot in Atlantic City over the last 3-4 years. PM if you have any questions

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All Forum Posts by: Michael Scanlon Jr

Michael Scanlon Jr has started 5 posts and replied 11 times.

Post: investing in atlantic city new jersey

Post: Todays Jobs Reports on the news

Post: Needing Advice from Current Atlantic City Investors

Post: Advice on small hotels

Post: Motel supply questions

Post: Buying a motel any advice?

Post: Commercial lending question- Hotels

Post: Buying a motel any advice?

Post: Atlantic City Investing

Post: Investing In Atlantic City