Investor · Elverson, PA · Member since 2014 · 80 posts · 53 votes
@Or Levy asked for an update on my properties and I thought I'd post it here for anyone else who is looking. It's been about 3 years and I'm happy with my Pottstown properties (even the "Just because you CAN buy a house for $5000 doesn't mean you SHOULD buy a house for $5000" one that I ended up putting $50k in work into).
It took us about 18 months to get them stabilized - deal with all the repairs that popped up during initial renting and whatnot. I picked up 4 more properties along the way for a total of 6. I was able to BRRR them, and so I got some cash out (maybe 10k). In the past 12 months, they have a NET cashflow of about $150/door (I'm shocked how accurate my prediction was before). Additionally, Pottstown has experienced some great appreciation in the past few years. Hope this helps!
Investor · Montgomery County, PA · Member since 2020 · 255 posts · 238 votes
5y
@Beka Shea Congratulations on successfully refi-ing and cash flowing these properties. I see Pottstown continuing to appreciate over time and is a great spot for rentals. When you eventually decide to liquidate you'll likely find yourself making a lot more than you put into these properties. All the best in your investing!
Real Estate Agent · Philadelphia, PA · Member since 2020 · 294 posts · 245 votes
5y
@Beka Shea Congratulations on your success. I have seen many horror stories from people buying $5000 houses, but I'm glad you were able to pull it off. Pottstown has really been popping off in recent months and shows no signs of slowing down.
Myself I have moved many properties there lately, and theres always a huge interest when I put one out and it always sells super quick.
@Clark Kirkpatrick Sounds like your right there with her just behind a few years, keep at it!!