Does anyone invest in this area? I own rentals in my area of Bucks county PA but came across an opportunity in the Wilkes Barre Kingston PA area and was wondering what the area was like in terms of rentals.
I'm a native of Montgomery County, been up here near Wilkes Barre for a few years. Since joining BP last July and listening to all of the podcasts, I've definitely caught the real estate bug. Although not ready to invest now, I would love to learn as much as possible about the anatomy of a deal. So let me know if you need a boots-on-the-ground view.
It's an interesting area around here, I think it has not realized it's full potential. The economy was not doing so hot but has definitely warmed up since the Marcellus shale gas drilling boom started.
Searching Realtor.com and becoming more familiar with the area has been my pastime recently. There are definitely some areas that are better than others. What kinds of properties interest you?
I'm a big fan of Kingston. I live in the area and the small towns on the West side (of the Wyoming Valley) and South of W-B have been good for me over the past year. In the last 9 months, I've added 8 doors and it has mostly been positive. If you don't live in the area, most towns will force you to hire a property manager. While I self manage, I have been recommended to one guy by multiple people. I'm thinking about turning over a 4-plex to him soon. I'll keep you posted if I use him.
Hi @Kevin D. . Obviously I'm digging up an old thread but would you mind PM'ing the name / company you use for property management (or just posting it in this thread)? Thanks!
@Kevin D. Interesting that "If you don't live in the area, most towns will force you to hire a property manager." Can you tell us more about how that evolved and how common such laws are?
If I remember correctly, they require the property manager to live within either 30 miles or 30 minutes of the property (I think) therefore if your out of state they will require a local person.
What do you guys think of the areas around WB/Kingston such as Nanticoke etc...? Are you seeing any rent growth or just good cashflow?
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