Community-oriented real estate investing and solutions.
To help individuals and families solve their real estate goals while also improving underserved communities.
Why We Exist?
Jurelle Enterprises is created to use our passion for real estate to help solve New Jersey’s worst real estate problems. Two primary issues we work to address include:
- High foreclosure rate
- Lack of affordable housing
High Foreclosure Rate
It is no secret that New Jersey has a foreclosure problem. Unfortunately, that problem does not seem to be going away anytime soon. Data shows that New Jersey is one of the top five states in the country with the highest foreclosure rates year-after-year. According to NJ101.5 via Otteau, factors that contribute to the states foreclosure problem include:
- High property taxes make the state too expensive to live in.
- Tough regulations that only slow economic growth, such as…
- Restricted zoning on the local level that limits the availability of affordable single-family houses.
- A long and inefficient judicial foreclosure process.
Real estate properties under foreclosure, vacant, and abandoned all have negative effects on a community. These negative effects include a declining economy and overall quality of life. First, property taxes are most likely not being paid on a property under any of these conditions. As a result, communities cannot adequately fund their schools, public safety, or infrastructure.
Second, when left alone long enough, these properties can eventually attract more crime to their neighborhood. The outcome of this is the decline of the community’s overall quality of life, as people will become less likely to move in or remain there. Combine all of this, and you have a community in crisis. Unfortunately, too many communities throughout New Jersey are facing this harsh reality. We want to do what we can to change it.
Lack of Affordable Housing
Housing throughout New Jersey is not only too expensive to own, but it is also too expensive to rent. According to the National Low Income Housing Coalition, the Fair Market Rent (FMR) for a two-bedroom apartment in NJ is $1,544. For a household to afford this rent, plus utilities, and without spending more than 30 percent of their income on housing, they need to make at least $61,762 per year, $5,147 per month, $29.69 per hour.
The main culprit for this is the rise of gentrification throughout the state, especially in cities with easy access to New York City and Philadelphia. Many existing properties have been renovated to market value, plus new construction is on the rise. However, while gentrified communities have physically improved, their essence has not.
As communities have transformed and property values have increased resulting from gentrification, so have rent prices. Knowing this and given the numbers mentioned above, it is clear that New Jersey’s rental market favors middle and upper-income residents. Unfortunately, long-time and lower-income residents of these communities are less likely to afford rent this high. As a result, many are forced to either move out of their community altogether or try to find an affordable option that is left.
Jurelle Enterprises works to improve New Jersey communities in need by providing properties with another chance to serve ALL community members, regardless of their socioeconomic status. While NJ Governor Phil Murphy is working to address the foreclosure crisis amidst the COVID-19 pandemic, we want to do our part to address the crisis.
Our work involves making offers to homeowners facing foreclosure or other property issues by helping to relieve them from their situation. In many cases, we will buy their houses from them ourselves. Houses we take from struggling owners will be renovated to serve tenants at affordable rent rates.
Advocate for Real Estate Investing in New Jersey
We are passionate about real estate because it one of the most valuable assets anyone can own and invest in. It can gain consistent value over time. Also, it plays a vital role in our quality of life and economic strength.
Most importantly, real estate can provide one of the safest and most stable ways to generate passive income to achieve financial success. This is why we want to encourage and help more people get into real estate investing. At the same time, we want to provide opportunities for people to be a part of our efforts to improve their community.
How We Began
Jurelle Enterprises was created by our CEO Tyler Jurelle Council. A New Jersey native, he started this company after being laid off from a tough job in New York City. It was actually his job working with NYC real estate that helped him realize his long-held passion for real estate. Including his relevant work experience, familiarity with New Jersey’s real estate market and its many needs, and his desire to help people all inspired the concept of our company.
Since being laid off, Tyler spent countless times researching the best methods to improve real estate throughout the state. With that research, he then wants to determine how those found methods can benefit community members.
So far, we operate in the following New Jersey counties:
We do business in these counties because our CEO knows more about them. From birth to college and beyond, communities in these counties have all contributed to his growth. As a result, he knows these locations well and can identify their needs. This can ensure we make the best possible decisions and foster the best relationships to improve these communities.
Jurelle Enterprises New Jersey Counties of Operation
Programs & Services
Many of our House Offers are structured to conduct cash transactions. If you are looking to purchase your next property fast and with all cash, join our program to receive exclusive access to real estate properties we have available for cash.
For homeowners who are struggling or does not want to keep their house. Whatever the reason is, we can help you. Reach out to us so we can help relieve you of your property as soon as possible.