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Old 08-22-2019, 01:43 PM
 
11 posts, read 5,263 times
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I know Asbury Park has totally changed and now is crazy expensive to get into. Is there a shore town that you think is under appreciated and under the radar? We want to invest in something that we can vacation at and possibly rent out but our budget is tight- $300,000 or less. Really looking for something within five minutes drive from beach or even closer. Can be little bungalow style or even condo. Thank you.
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Old 08-22-2019, 02:42 PM
 
Location: Coastal New Jersey
58,503 posts, read 56,429,635 times
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Quote:
Originally Posted by Justwondering228 View Post
I know Asbury Park has totally changed and now is crazy expensive to get into. Is there a shore town that you think is under appreciated and under the radar? We want to invest in something that we can vacation at and possibly rent out but our budget is tight- $300,000 or less. Really looking for something within five minutes drive from beach or even closer. Can be little bungalow style or even condo. Thank you.
The people who bought in the rejuvenated areas of Asbury Park and Long Branch 20 years ago did not buy in rejuvenated areas. They took a chance and bought in crappy, maybe scary-ish places and held on until the areas changed. I have friends who jumped on the Asbury merry-go-round in the late 1990s and rented to Section 8 tenants. Now their house is in a better area, they've renovated it and are using it for their own summer shore house.

If you're willing to take that chance, why not look at the areas of Asbury Park and/or Long Branch that are near the redeveloped sections but aren't quite there yet?

You could also look at towns on the bays. Keansburg and Keyport are two that get a lot of discussion here. Not so desirable now, but because they are on waterfront, maybe they will be sooner or later.

I remember visiting an alcoholic friend in Ocean Gate back in the early 90s. Sad, rundown, depressing town, everyone hanging out drinking beer and it wasn't even noon, no one seemed to have a job. I went out to my car to get something at and some guys driving by in a pickup catcalled me. At 10 a.m.

Boom, moved down to Monmouth County 20 years later, and I see nice condos and houses advertised in Ocean Gate. Doesn't look like the same place it was almost 30 years ago.

It's taking a chance, though.
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Old 08-22-2019, 08:18 PM
 
11 posts, read 5,263 times
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I would like to learn more about those “scary looking” towns on the bay or shore. Where do I find out more info? I don’t mind investing in something that is run down. Thank you for feedback. Will look at the mentioned ones.
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Old 08-23-2019, 10:02 AM
 
Location: NJ
4,359 posts, read 9,508,593 times
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Quote:
Originally Posted by Justwondering228 View Post
I would like to learn more about those “scary looking” towns on the bay or shore. Where do I find out more info? I don’t mind investing in something that is run down. Thank you for feedback. Will look at the mentioned ones.
You should probably talk to a local realtor in those areas.
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Old 08-23-2019, 10:15 AM
 
Location: Jersey City
6,542 posts, read 16,409,251 times
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MQ had some good recommendations. Since the OP is willing to drive a bit to get to the beach, Neptune Twp might be a place to look. There are some condos right by the Bay Head train station and in Seaside Heights that might fit the budget. Otherwise going south to places like Atlantic City, Ventnor, or a tiny condo in downtown Ocean City might work.
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Old 08-23-2019, 08:10 PM
 
15,718 posts, read 5,621,046 times
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Quote:
Originally Posted by Justwondering228 View Post
I would like to learn more about those “scary looking” towns on the bay or shore. Where do I find out more info? I don’t mind investing in something that is run down. Thank you for feedback. Will look at the mentioned ones.
Sea Girt or Spring Lake are "scary as hell"!
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Old 08-24-2019, 06:51 AM
 
Location: New Jersey/Florida
5,475 posts, read 10,681,269 times
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Quote:
Originally Posted by Justwondering228 View Post
I know Asbury Park has totally changed and now is crazy expensive to get into. Is there a shore town that you think is under appreciated and under the radar? We want to invest in something that we can vacation at and possibly rent out but our budget is tight- $300,000 or less. Really looking for something within five minutes drive from beach or even closer. Can be little bungalow style or even condo. Thank you.
5 to 10 minutes to the beach with a 300K budget in Ocean County will work. Look in Point Pleasant Boro and in Brick off of Mantoloking Rd. Both pretty close to the train stations.
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Old 08-25-2019, 08:34 PM
 
15,718 posts, read 5,621,046 times
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Quote:
Originally Posted by JERSEY MAN View Post
5 to 10 minutes to the beach with a 300K budget in Ocean County will work. Look in Point Pleasant Boro and in Brick off of Mantoloking Rd. Both pretty close to the train stations.
Lake Como or Belmar all so.
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Old 08-26-2019, 05:42 AM
 
1,337 posts, read 1,580,499 times
Reputation: 1023
Quote:
Originally Posted by Mightyqueen801 View Post
The people who bought in the rejuvenated areas of Asbury Park and Long Branch 20 years ago did not buy in rejuvenated areas. They took a chance and bought in crappy, maybe scary-ish places and held on until the areas changed. I have friends who jumped on the Asbury merry-go-round in the late 1990s and rented to Section 8 tenants. Now their house is in a better area, they've renovated it and are using it for their own summer shore house.

If you're willing to take that chance, why not look at the areas of Asbury Park and/or Long Branch that are near the redeveloped sections but aren't quite there yet?

You could also look at towns on the bays. Keansburg and Keyport are two that get a lot of discussion here. Not so desirable now, but because they are on waterfront, maybe they will be sooner or later.

I remember visiting an alcoholic friend in Ocean Gate back in the early 90s. Sad, rundown, depressing town, everyone hanging out drinking beer and it wasn't even noon, no one seemed to have a job. I went out to my car to get something at and some guys driving by in a pickup catcalled me. At 10 a.m.

Boom, moved down to Monmouth County 20 years later, and I see nice condos and houses advertised in Ocean Gate. Doesn't look like the same place it was almost 30 years ago.

It's taking a chance, though.
If that’s the case, OP could also try Keansburg. This could be an up and coming town, as well.
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Old 08-26-2019, 10:12 AM
 
Location: Coastal New Jersey
58,503 posts, read 56,429,635 times
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Originally Posted by homenj View Post
If that’s the case, OP could also try Keansburg. This could be an up and coming town, as well.
I mentioned Keansburg in my post. A caveat, of course, would be if we had a repeat of October, 2012. I thought of buying there in 2010, getting a small house instead of a condo, but because the entire town is high risk for flooding and requires flood insurance, I chose not to.
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