Investing in York PA?

Question

Hey guys!  I'm an investor/real estate agent in Philadelphia.  I have a couple properties in Frankford, Kensington, and Allegheny near East Falls.  I am still finding good deals in the city, but they are definitely beginning to get fewer and farther in between each other.  I started branching my search out to areas surrounding the city, Norristown, Pottstown, etc.

Recently I have begun to look into York.  The cashflow there seems incredible for the prices, even taking property taxes into account.  I don't know a whole lot about the area though, and would love to get insight from people currently investing there. Will the area appreciate?  Are the tenants better/worse than those in Kensington and Frankford? Is the U and O department there a nightmare?  Any tips tricks or advice would be greatly appreciated!

Brendan Markle · Answer

@judy   the use and occupancy department, in some towns the U&O department can be super strict.  I know i've run into a lot of problems with them in Norristown, some parts of Bucks County etc

@Judy P.undefined

Miguel T. · Answer

I invest in a property in York. I have had it now for two years. I bought it cash at a 12% cap rate. It is worth buying in the area, but you must be careful exactly where you buy. Also I would advise taking note of the condition of the homes as made were built in the early 1900s.

@Bobby Shell is definitely right. I hear the fix/flip market is hot right now. I am out of state so it is difficult for me to take up that strategy.

Steve Uhlig · Answer

@Brendan Markle Thanks for the invite.  I unfortunately can’t meet today, but I’m available for a phone call this week if you’d like to chat.  4849251605

Bobby Shell · Answer

@Brendan Markle I work for a digital marketing company and have had a client who does fix and flips in York pa for the last 5 years and they are killing it. They are buying homes for cash outright then adding value and selling them again. It is definitely a intriguing area. I personally have never been in the area but my clients are making s good living for their family and have been for years

Judy Parker · Answer

Brendan, what is the U and O departmenr? I am thinking of investing in the Dover/York area as well.

Brendan Markle · Answer

@Steve Uhlig i'm gonna be in Pottstown tomorrow for most of the day, let me know if your around for a coffee or something.

Brendan Markle · Answer

@Jeremy Taggart Thanks for the input-  I definetely need to take a trip out there soon to check out the area.  The numbers work out and it does seem like it may be on the up and up

Brendan Markle · Answer

@Donovan Mitchell I actually went up to Pottstown about a month ago to look at a place, I agree its not a bad place to look in.  I'm actually going to be in Pottstown for a large part of the day tomorrow if your around to meet up for a couple minutes.

Steve Uhlig · Answer

@Brendan Markle I'm in Pottstown as well.  It's a good city for cash flow and is starting to improve economically.  Taxes tend to be high and the city can be a little difficult at times, but it's a solid investor market.

Jeremy Taggart · Answer

@Brendan Markle I'm from the western part of the state but I stayed in downtown York for a weekend for an event, and as an outsider just visiting the area it seemed like it was on the up and up. Lots of bars/restaurants that appeared to have just opened. Lots of younger people out and about on Friday/Saturday nights. Not sure about the economic outlook as far as jobs and everything goes for the area as a whole, but it seemed like the downtown was cleaning up.