Investing in Scranton PA

15 Replies

Hello, 

My name is Jonna. I am a from Staten Island New York. I am currently looking to start my journey in real estate investing. Since the housing market in New York City, is un affordable, I came across Scranton Pa.  as a great affordable, close to home place to start my investing career in.  I was looking to buy and flip, and also buy and rent out properties to build a portfolio with rent producing properties with great cash flow( as i am sure many are looking to do the same). I am looking for advice or pointers in the right direction for the area of Scranton, Pennsylvania, thoughts, pros,cons etc.. Any input would be greatly appreciated. 

Hi.  I'll be happy to help with any questions you might have about our area here in NEPA.

Best,

Marc

Looking to self magage to start, if it becomes overwhelming then I would

Hire s management company. 

I've been looking into investing opportunities in that area also (it is close to where I grew up), and I would caution against flipping in Scranton (within city limits).  So many buyers want to live "anywhere but Scranton!"  Property tax is very high in Scranton relative to the surrounding areas, and also I've heard getting city permits for for rehab work is a major hassle!  I've seen beautifully flipped/rehabed houses in Scranton sit on the market for months and never sell.  That being said, you can find great deals there, and the rental market is strong.  If the numbers make sense, go for it!

@Marc Winter is a great resource as a long-time investor in the area!  Talk to him!

Amy,

Thanks for the reference.  You are spot-on about Scranton re: fix flip.  Outside the City limits, lots of potential for that.  Inside City, one can definitely cash flow from properties, however we are talking about c+ to d properties in general, so the tenants will be in that range as well.  BTW, I have been in touch w the investor--thanks again.

@Jonna Petti all the best to you on your REI journey. Always remember to persist and you will WIN!!🤘🏾

if you're looking to self manage, you won't be able to rent in the city of Scranton. They require owners living more than 20 miles away hire a management company. 

There are a lot of small towns around Scranton that might be a less  regulated. 

Yes that I’ve learned through reading and research yesterday, I just figured that out. Any ideas what management charges for a duplex ? And what does it include?

@Jonna Petti - is your target property near Dunder Mifflin in the Scranton Business Park?

I would charge 10% to manage. I’ve paid the same in the past.

Hi

What cities would be consider just outside of the city limits in Scranton, PA?
Thanks

I am just starting out and live in MD. Properties prices here seem a bit out of reach. I'm looking for my first investment property. I was looking into an out of state investing, but may not want to manage it. I'd be interested to hear about experiences in the different markets throughout PA, specifically eastern and central PA (Philly, Harrisburg, Scranton, Lancaster, etc.). A lot of these markets seem to have decent price points but I know that's partly due to lower income areas. Any tips or guidance would be appreciated.

Thanks,
Winston

Originally posted by @Jonna Petti :

Yes that I’ve learned through reading and research yesterday, I just figured that out. Any ideas what management charges for a duplex ? And what does it include?

 Sorry for the late response. I don't use a property manager, so I don't know. Sorry! Call a few and see what they charge, but I can't give any recommendations. 

@Marc Winter , I would very much like to connect with you.  I spent my adolescent years in Scranton, Pa and am considering making a move back there.  Need someone solid that I can turn to for a little guidance.

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