Investing in Pennsylvania

Off Topic
5yFollow

Investing in Pennsylvania

Joseph Scaglione
Member since 2021 · 4 posts · 2 votes

I am currently living in New York and am thinking of investing in Pennsylvania Real Estate being that it is close. Any areas people would recommend investing in? And if so, any good agents to work with?

0Reply
15 views

Most Popular Reply

Sheryl Sitman
Rental Property Investor · Philadelphia, PA · Member since 2015 · 479 posts · 362 votes
5y

@Joseph Scaglione  PA is a very very dynamic and varied market. Just Philly is a city of multiple neighborhoods and a very wide range of types of investments. Some people specialize in just one part of the city because it is so different from one area to another. I would urge you to sharpen your question. I personally invest in two regions of Pennsylvania which I have come to know intimately. I have researched many areas in order to make my decisions. And I have dedicated countless hours to build out the right teams to work with. Given you may not be able or interested to invest as much time as I am suggesting, then the key is to find the right people to be your proxy/boots on the ground.  Start talking to to people.

2Reply
See this reply in the discussion

6 Replies

Jump to latestLatest
  • Jason Polykoff
    Real Estate Agent · Drexel Hill, PA · Member since 2020 · 60 posts · 10 votes
    5y

    Hi Joseph! You’re not alone… many NY investors are looking in PA because the home values and property taxes are a fraction of the price. There are a few popular places in Philly that are getting a lot of attention… Northern Liberties, Fishtown, Point Breeze, North Philly near Temple. Grays Ferry is also another up-and-coming area. Outside of the city, Delaware County is a great renters market. Low price points and lower transfer tax, but property taxes are higher than Philly (still a fraction of NYC). 

    Much of how to advise you depends on your price point and your strategy. I am happy to connect with you and talk through it. I’m a realtor who has helped (and currently helping) a bunch of BP members (in state and out of state) find investment properties in the Philly and greater Philly area and would be happy to assist. 

    Feel free to send me a PM if you want to connect!


    Either way, good luck in your REI journey!!

    Jason Polykoff | Compass RE

    1Reply
  • Joe Chirdon
    Real Estate Agent · Harrisburg, PA · Member since 2016 · 159 posts · 82 votes
    5y

    I work with a lot of investors in the greater Harrisburg area. If you're interested DM me. Thanks!

    0Reply
  • Dan Powers
    Real Estate Agent · Philadelphia, PA · Member since 2020 · 294 posts · 245 votes
    5y

    Welcome to the Philly market @Joseph Scaglione, the land of cheap taxes and great cheesesteaks. The areas you want to focus on all depend on your strategy, budget, are you looking for more appreciation or cash flow, the amount of cash flow, etc. Both Philly and Delco offer a variety of submarkets for flip, buy/hold SFH, and multis (not so much in Philly though).

    Obviously, the nicer areas in Philly (Fishtown, Fairmount, Northern Liberties) are exclusively flip markets. Most of South Philly is a flipping market, with the rare exception if you can convert a SFH to a multi. West + Southwest Philly are right now the hottest areas I move properties in, as they are great for both flipping and buy/hold and have been experiencing large amounts of appreciation over the last year.

    Delco has more expensive taxes, but generally, the title is cleaner as opposed to Philly properties. There is a much higher inventory of multi properties, compared to Philly, and they are more times than not significantly cleaner as well. On top of that, you see a range of SFH flips from 100k-300k on the purchase.

    Hope this helps, would love to connect!

    2Reply
  • Account Closed
    Real Estate Agent · Pittsburgh, PA · Member since 2020 · 111 posts · 51 votes
    5y

    Pittsburgh is a market that is often overlooked, but with the close proximity to philly, nyc, and DC, it is a surefire investment opportunity. While the price to buy and taxes are much lower and the cost of living also being low in comparison to the larger metros around the tri-state area. While you can surely have great returns in the philly sector of the state, the western side, which is currently going under major revitalization projects, you may find some luck here. I have worked with investors all over the state, including Philly. I would also agree with the statements of northern liberties, fisthown, tioga park, and Darby TWP being great areas for investments. In comparison to Pittsburgh, almost anywhere in the city, you can find a multi-unit for a great bargain. If you have any questions or would like to speak further with an investor-friendly agent, please reach out!

    0Reply
  • Sheryl Sitman
    Rental Property Investor · Philadelphia, PA · Member since 2015 · 479 posts · 362 votes
    5y

    @Joseph Scaglione  PA is a very very dynamic and varied market. Just Philly is a city of multiple neighborhoods and a very wide range of types of investments. Some people specialize in just one part of the city because it is so different from one area to another. I would urge you to sharpen your question. I personally invest in two regions of Pennsylvania which I have come to know intimately. I have researched many areas in order to make my decisions. And I have dedicated countless hours to build out the right teams to work with. Given you may not be able or interested to invest as much time as I am suggesting, then the key is to find the right people to be your proxy/boots on the ground.  Start talking to to people.

    2Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    5y

    @Joseph Scaglione
    Yes, many people form NY do invest in PA given the cost of houses within the state, low state income taxes, and overall ability to cash-flow(depends on where in PA you are investing in).

    I would suggest visiting some of the cities in PA(take 1-2 days in each city) and see what you like/don't like about each city.
    While you are there, you can network with real estate agents and contractors in those areas.


    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
    View Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free