Rental Property Investor · NJ · Member since 2020 · 56 posts · 53 votes
Hi team, I'm looking to add a 3rd property to my portfolio this year and identified the Lehigh Valley as a good location to expand to. I'm currently house hacking in Weehawken, NJ (Working in NYC) and looking for a small Multifamily(~200k) buy and hold rental next. Lehigh Valley seems attractive due to Price to Rent ratios, significantly lower taxes than NY/NJ, geographic proximity to NYC/Philly, jobs in area (Amazon warehouses, fedex etc). Have also read good things about the downtowns of the likes of Bethlehem, but its difficult to narrow down neighborhoods without knowing the area too well. Looking for recommendations on neighborhoods to dive deeper into within the area in that price range, as well as connections and general advise from those who have invested in the area. Would appreciate any help!
south Bethlehem has the lowest prices, student housing areas near Lehigh University are good but houses are more expensive but you are getting higher rents. Be careful if you take a wrong turn in the ss houses can be pretty rough but with that said I have an SFH in the ss that isn't a student rental and so far so good, North Bethlehem is a little bit nicer and west Bethlehem is quieter but better than the ss
Rental Property Investor · NJ · Member since 2020 · 56 posts · 53 votes
3y
Closed on another one a couple of weeks back. Value add small multi in SS Bethlehem. Definitely tough to cashflow at current rates but I've found that what is working in this market is taking a longer term BRRRR view ie add value, increase rents, build equity and hold on for 1-2 years to refi when rates are in your favour then you should find yourself in a good spot from an ROI and ROE perspective.