Does anyone have anything to say about Harrisburg, PA? What do you think of the area? What has your experience been like over there? I have experience investing in Philadelphia, however, I came across an 11 unit apartment building which sparked my interest. The property seems to cash flow quite well, but I am not familiar with that market. I'm looking for properties that cash flow well (in good areas), meeting the 2% rule (or close to it if the area is nice). If I do invest in Harrisburg, I will be looking for multi-units to make it worth my time.
I appreciate any and all feedback!
I have heard that Harrisburg is very similar to Trenton (where I do most of my investing). As it's a state capital the state occupies alot of the prime real estate and doesn't pay taxes to the municipality on the parcels. I have also heard that like Trenton there are areas that are solid and there are war zones to stay away from. For demographic info go to www.CityData.com, I've found that to be useful for evaluating towns. I would also suggest you find a local property manager as there is nothing like a local presence. In NJ, you are required to have a local building "super" for anything larger than 10 units. We own an 18 unit in Philly and have not been required to provide that so I would say that rule doesn't apply in PA.
Best of luck!
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