Looking to invest in allentown pa!

Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes

Hello BP. My partners and I are looking to invest in buy and holds in allentown pa . We are new to the market and are looking for advice on our options in Allentown as we are from new york and are unfamiliar with the processes.? .any info is greatly appreciated

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Rajneesh Jha

Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes

I am an Allentown investor. Its a blue collar area with tonnes of tenants an revitalizing district. I have a 4-plex there and its been very solid. I bought it in 2018. My cash on cash is about 20%.

One thing to note is this there are several tax bills and compared to other places I am invested in, the tax rate is higher for my Lehigh Valley properties.

all in all, I would recommend this place, if you want to buy and hold and like good cash flow.

Hope this helps.

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John Vesky
Residential Real Estate Broker · New York City, NY · Member since 2016 · 9 posts · 2 votes
6y
@Pedro Bartolomei i thought about doing the same, but divided on driving an hour out in long island instead , just to reduce committing . CT Bridgeport runs parallel to Long island so i’m exploring those areas as well. Not sure how far into PA I woukd have to go but it seems like much further to get a deal going.
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
@john vesky pa is a lot more landlord friendly than new york is . That definitely a contributing factor for me .
1 Reply
Yechiel W.
Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes
6y
I started looking into Allentown and happened to find Quakertown, south of Allentown with perhaps a better school district. Just curious how partnering up in REI works regarding ownership percentage, dividing up the work/management?
Best of luck with this process!
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Rajneesh Jha
Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes
6y
I am an Allentown investor. Its a blue collar area with tonnes of tenants an revitalizing district. I have a 4-plex there and its been very solid. I bought it in 2018. My cash on cash is about 20%.
One thing to note is this there are several tax bills and compared to other places I am invested in, the tax rate is higher for my Lehigh Valley properties.
all in all, I would recommend this place, if you want to buy and hold and like good cash flow.
Hope this helps.
2 Reply
Bill Goodland
Rental Property Investor · Allentown PA, United States · Member since 2016 · 567 posts · 442 votes
6y
@Pedro Bartolomei hey Pedro, I’m from Long Island, NY and moved to the Lehigh Valley area on Pennsylvania. Currently have a triplex in Breinigsville just outside of Allentown. Currently looking for off market multi-family in the Allentown/Bethlehem area. It’s a great market and I think has long term potential being relatively close to NYC and philly while having its own small city appeal with stable economic factors. Let me know if you have any specific questions man
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
Thanks Bill . Appreciate it
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
Originally posted by @Bill Goodland:
@Pedro Bartolomei hey Pedro, I’m from Long Island, NY and moved to the Lehigh Valley area on Pennsylvania. Currently have a triplex in Breinigsville just outside of Allentown. Currently looking for off market multi-family in the Allentown/Bethlehem area. It’s a great market and I think has long term potential being relatively close to NYC and philly while having its own small city appeal with stable economic factors. Let me know if you have any specific questions man

Thanks Bill. Appreciate it
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
@Rajneesh Jha yes it does thank you .
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
@Rajneesh Jha do you recommend any lenders ?
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Eric GoldmanBusiness Member
Lender · PA · Member since 2019 · 359 posts · 192 votes
6y
Allentown has a low barrier to entry but property values are low and so are the arvs..we can get purchase money right now.
484-574-4878
G2loans- Investor and Commercial Mortgages531 Reviews
Website View Page
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Rafael Martinez
Rental Property Investor · Yonkers, NY · Member since 2019 · 31 posts · 18 votes
6y
@Kristine McCreary I’m also interested in some deals around this area. I been wanting to invest as I’ve heard a few successful stories. I’m currently investing in CT but open to doing business
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Rajneesh Jha
Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes
6y
@Pedro Bartolomei- I used the Embassy Bank of Lehigh Valley. They gave me great terms and rates. However, they only work with local investors now. They have not had a good experience with "absentee landlords"...whatever. I see you are New York based so it will not work for you anymore.
I would call all the small banks in the area, you should get call backs from 3-4, short list 2 of them. Interest rates are the best ever right now even though lending activity has dried up somewhat lately
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
@Rajneesh Jha i was able to get in touch with a small bank in the area thank you
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Sheryl Sitman
Rental Property Investor · Philadelphia, PA · Member since 2015 · 478 posts · 362 votes
6y
@Yechiel W. Quakertown is nice. Not sure if numbers work. Depends what you are looking for. We are in Bucks and invest in Philly and Lehigh Val. מוזמן להסתכל באתר שלנו 😀
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Rajneesh Jha
Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes
6y
@Pedro Bartolomei- I recommend Embassy Bank- talk to Mike Lahanas and tell him I sent you. But they are only working with local investors (lehigh valley residents), so not sure if you qualify
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Rajneesh Jha
Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes
6y
Originally posted by @Pedro Bartolomei:
@Rajneesh Jha i was able to get in touch with a small bank in the area thank you
Excellent!

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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
@Rajneesh Jha do you recommend any contractors in the area
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Rajneesh Jha
Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes
6y
@Pedro Bartolomei- Sorry, Pedro I don't. I have not had the need so far because my PM takes care of everything.
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Pedro Bartolomei
OP
Rental Property Investor · Deer Park, NY · Member since 2020 · 64 posts · 15 votes
6y
@Rajneesh Jha ok one question please. Do you have recommendations for home inspectors .? Thanks
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Rajneesh Jha
Rental Property Investor · Lehigh Valley, PA · Member since 2018 · 15 posts · 6 votes
6y
@Pedro Bartolomei- Phil D Houck. look him up on google. he is okay
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