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Updated about 7 years ago on . Most recent reply

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91
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Rome Wells
  • Stamford, CT
34
Votes |
91
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Any1 know what markets are best to buy multi family houses in PA?

Rome Wells
  • Stamford, CT
Posted
  •  Any1 know what markets are best to buy multi-family houses in PA?  I am attempting to identify buyer's market area... in PA specifically... 
  • I am seeking B- and C+ area type of markets for 50 to 100  multi-family units
  • Range 1.5 mils to 2.5 mil
  • Seeking area specifically where there is job growth and appreciation and value-add opportunity
  • Cap rate must be within 10 percent minimum
  • Deals that exist must follow on av Rule of thumb 50% or less expense ratio and not overinflated.
  • Does any1 know specifically which cities... meet such criteria... i am not asking specifically for a building... that meets that criteria... i am simply trying to identify where it's best to invest into. 
  •  I am doing research in multi-family real estate.. and simply trying to find great areas... to invest in... I am not saying I am ready to invest in anything now... but rather doing a bit of homework ahead of time just to see what my options are.

Any advice would be greatly appreciated.  

Most Popular Reply

User Stats

131
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138
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Gareth Fisher
  • Manheim, PA
138
Votes |
131
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Gareth Fisher
  • Manheim, PA
Replied
I'm here in Lancaster, we typically have nice Conservative growth. We were voted top ten markets to be in during our last recession in 2008. Lately things seem to be growing even faster then I Prefer. Lots of good jobs, small businesses, family value oriented communities. Pittsburgh is growing quite rapidly. Philly is tricky, lots of taxes, really have to know your neighborhoods.

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