Wholesaler · Manayunk, PA · Member since 2019 · 10 posts · 4 votes
Hello,
I recently convinced my dad to take out a heloc on his primary residence and partner with me to buy our first rental. I found a single family “for sale by owner” in Norristown and was able to get it under contract for $55,000. We have been dealing with some issues getting a temporary use & occupancy permit but that’s a story for another day.
I sold a couple wholesale deals last year in Norristown and now I’m trying to get in the rental game. Is Norristown a good place to get started? Can I hope for some appreciation in the future? Is anyone else having success in the Norristown area?
Real Estate Agent · Central Pennsylvania · Member since 2020 · 6 posts · 4 votes
5y
@Marcus Franklin I’m also trying to get towards the U&O, that whole office is incompetent. But looking at the return on investment I think it would be good. My plan is to finish renovations on my 5 bed 2 bath house in Norristown and rent it out once I’m done house hacking. I could get close to $1750 in rent which is more than enough money to cover mortgage, taxes and everything else.