Long Beach Island, New Jersey is a great opportunity destination for investors. Over the years I have worked with several investors – investors that are buying property to use for rental income, investors that purchase “tear downs” or vacant lots for selling new construction homes and investors that purchase property for both rental income and personal use.
Owning an investment property on Long Beach Island (LBI) can offer several advantages to the property owner. Here are some potential benefits to consider:
- Rental income: One of the primary advantages of owning an investment property on LBI is the potential for rental income. Vacation rentals are in high demand on LBI, particularly during the summer months. Renting on some “off season” weekends can also bring in some additional income – for example, one could rent out their property for Chowder Fest and Kite Fest on LBI. Both of the festivals are held in October, and in October we still see some great weather on LBI with many businesses remaining open. Although “off season” weekend rentals will not command as much rental income as the peak summer weeks, they can still be worth the rent. By renting out your property, you can generate significant income to help offset the costs of ownership, such as mortgage payments, property taxes, and maintenance expenses.
- Tax benefits: Owning an investment property on LBI may offer various tax benefits, such as property tax deductions, mortgage interest deductions, and depreciation write-offs. These benefits can help reduce your taxable income and increase your cash flow. A conversation worth having with your accountant.
- Appreciation: Over time, real estate on LBI has generally appreciated in value. Investing in property on the island can offer the potential for long-term appreciation, meaning your investment may grow in value over time.
- Diversification: Real estate investments can provide diversification to your investment portfolio, spreading out risk across multiple asset classes. Investing in an LBI property can offer an opportunity to diversify your investment holdings beyond stocks, bonds and other investment opportunities.
- Personal use: Owning an investment property on LBI can also provide personal benefits, such as having a vacation home to use yourself or share with family and friends. You can enjoy the island’s beaches, restaurants, and attractions while also generating income from renting out the property when you’re not using it. September can be a great month for homeowners to use their rental property. September on LBI is one of my favorite months. The island is less crowded, most LBI businesses remain open in September, the weather is typically still really nice and the ocean temperatures are also typically warm.
It’s worth noting that owning an investment property on LBI does come with risks and responsibilities, such as the need for ongoing maintenance and management, potential for property damage or loss, and market fluctuations. However, for those willing to put in the time and effort, owning an investment property on LBI can be a smart financial decision with long-term benefits.
It is also worth noting that although all of LBI is rentable, some areas/properties on LBI will give you a better return than others. Therefore, a LBI real estate agent with investment property experience can certainly provide a great wealth of information to investors. If you are thinking about owning an investment property on LBI please do not hesitate to contact me. I am happy to help from locating a property, to providing income projections, etc.! As an agent on LBI, I will be with you every step of the way!
Looking to buy or sell on LBI? Call me at 609-300-3899.
Email: lbideidre@gmail.com
Insta: deidre_martin_lbi
Website: lbideidre.com