Anybody investing in Harrisburg PA?

[Victor Steffen]

Hello All, I've noticed a lot of properties sitting on the market for months in Harrisburg. The low purchase prices and relatively high rents seem too good to be true. Why aren't these units getting snatched up? Any insight is appreciated! Thanks!

[Cory Iannacone]

@Victor Steffen It truly depends on what area of Harrisburg you are looking at.  There are a number of areas that have been revitalized over the last 10 years.  Others remain very depressed.  The revitalized areas are more expensive to purchase, but also draw good tenants--young professionals.  The depressed areas draw the opposite.  They may have much better cash flow, but they also have higher turnover, more issues with property damage/repairs, etc.  

Here's a duplex I just purchased in Old Uptown Historic District last month and just finished rehabbing.  A lot of money was spent revitalizing this area over the past decade. 

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