New to Real Estate · Springfield, PA · Member since 2020 · 2 posts · 1 vote
I live near Philadelphia PA and am looking into where to invest. York Pa looks like it has a great downtown but very cheap housing with almost no long term appreciation. Looking to gain insight from others who have invested in York PA. Do you find you have a lot of issues with tenant turnover and is this market possibly ready to start gaining traction with all of the downtown investment in the last 10 years or so?
Definitely money to be made in York, problem will be finding a strong property manager. Otherwise you will more than likely need to self-manage and be very hands-on in order to make the investment work. That being said- this would be a pure cash flow play. The market is stagnant and it takes a lot more than park benches and main street facelifts to boost property values. I'm seeing great appreciation in the west chester area- just west of you. Major university, hospitals, manufacturing plants. Purchase prices significantly higher, but much better in terms of appreciation and rent rates.
Definitely money to be made in York, problem will be finding a strong property manager. Otherwise you will more than likely need to self-manage and be very hands-on in order to make the investment work. That being said- this would be a pure cash flow play. The market is stagnant and it takes a lot more than park benches and main street facelifts to boost property values. I'm seeing great appreciation in the west chester area- just west of you. Major university, hospitals, manufacturing plants. Purchase prices significantly higher, but much better in terms of appreciation and rent rates.
@Mike Romano I personally am not very familiar with York but know many investors who are. If you have any interest in Harrisburg, PA (about 30 mins from York) I’d be happy to talk. Harrisburg is the state capital so you have that built in network of jobs. Costs are similar to York.