Pennsylvania MARKET RESEARCH
Hi BP community,
I’m doing research on the PA real estate market, Easton and neighboring areas. Has anyone bought a multifamily in this area? Does anyone have any insights on comps? Any information would help. This would be my first investment property, I’m looking for a multifamily that I can rent, so I’m looking for a market that meets my criteria ( within 3-4 hr. driving distance from my current home in Staten Island NY, Looking to buy 10%-20% below market, new investor friendly property, and at least 15% roi).
Also looking for recommendations for real estate agents in these areas and financing strategies.
Thank you!
Most Popular Reply
Hello, and welcome to the community. I have multifamily properties throughout these townships. The Lehigh Valley definitely has a little bit of everything throughout it. I can't guarantee the driving time with traffic on I-78 / I-80 being hit or miss, but about 50% of my clients are based in NYC and find it a reasonable drive. It's a tough market to buy in these days, with lots of out of state investors moving in due to our more landlord friendly laws and better cap rates. With this, we are still closing an average of 1-2 deals per week, so don't let this scare you away. Most new investors find that the 1900-1920 construction is intimidating, but end up purchasing one that's been upgraded with modern electrical, plumbing, and roofing. This lets them do a quick cosmetic rehab (paint / floors) and place a tenant at very attractive rents. If you have specific questions to help you evaluate the market, please post them!
@Zack Busch Fancy seeing you here!