Hello @Sumaira Ahmad, Nick Paros here, fellow Johnstown PA native and investor! I believe I remember meeting you and your husband at one of the Greater Johnstown Landlord Association monthly meetings. Welcome to the website, always great to see more local investors joining the group. @Account Closed is on here as well which is who originally told me about the GJLA meetings.
Hello @Sumaira Ahmad, Nick Paros here, fellow Johnstown PA native and investor! I believe I remember meeting you and your husband at one of the Greater Johnstown Landlord Association monthly meetings. Welcome to the website, always great to see more local investors joining the group. @Account Closed is on here as well which is who originally told me about the GJLA meetings.
Nice to know nick and Mary that your here . Yeah I remember you Nick . I am new to this forum and trying to learn how to use it Have you moved out of Johnstown ?
Still Living in town and Investing in town. It has been a few months since I have been to a GJLA meeting but hopefully I will get to one soon when they resume again. I like BP a lot for asking advice and input from other investors and just discussing real estate matters.
Which part of the town you invest ? I am only comfortable for my personal properties in Richland . I manage 95 units for other investors . Neighbourhood of moxham Wesstend and horner’s town are a challenge . Overall the rental return here is great . It’s just the economy and declining population makes me nervous time to time .
Currently Richland and Forest Hills but I would be open to Westmont or Windber as well, I am staying away from down town though because I know I have heard a lot of bad stories from a lot of people about it. I agree return is great and I am concerned about the declining population as well but it seems like the Richland and Westmont areas are holding pretty steady which is good.
Omg city is a nightmare in some cases . Tenants leaving behind water bills becomes another hassle . Westmont is good but not practical as high taxes . Richland properties cost more but they are much more safer investment and different clientele .
Taxes are the reason I don't currently own any properties in Westmone. I saw a couple I really liked and even made offers on a couple but i had to offer way under asking price to make the numbers work and the seller didn't want to come down that far.
@Sumaira Ahmad Windber here. Currently we are just house hacking a duplex to get into the real estate game, but look forward to purchasing more investment properties.
@Keith Leckey not too shabby, still been getting out on the river as much as possible! How about you, how have you been? Bummer our river festival got canceled, but it’s for the best. Hope to see you out there soon, looking forward to warm sunny days!
We have a SFH in Johnstown (Coopersdale) that is nearly complete. Do you have any suggestions regarding which areas of Cambria County we should target fo the next property?
In addition, considering that properties are rather inexpensive in Johnstown, which banks/credit unions are investor friendly and willing to finance under $50K? Thank in advance.
I never had to finance any of my properties but I had my mortgage through Wells Fargo depends a lot on credit score . somerset trust bank I know a lot of people I can check it out for you .
First, thank you for your reply. Second, if possible, please check with your sources; we would greatly appreciate it. We really want to purchase another property (in that county) that requires minimal renovation. Our current property was rather cheap but needed much work (including sewer upgrade). Accordingly, we truly want to avoid purchasing anther property in need of extensive repairs/updates.
Sewer upgrade; frozen pipes; electrical upgrades; major cosmetic work; incomplete work from an earlier renovation. We've been blessed that the roof is still good.
No that’s not my concern . My problem with the city is that water there is leanable against the property . It follows the landlord not the tenant . Richland and Westmont have much better clientele
Sumaira Ahmad Oh that's bad. Is there some way to make the tenant responsible, like put it in the rental contract? I've been watching Moxham rental properties listed on Trulia for about a month but I don't think any of them have been rented. Idk if it's the lockdown or if properties in the city move slowly.