All Forum Posts by: John Moore

@Stephen Dominick  There is a meeting held once a month at the Keller Williams Real Estate Office in Bethlehem, I don't have the exact information to provide you.  Give them a call and they can provide.  I don't know of any active group in the Pocono's.  Sorry I could not be of more help.

Good luck in your full time endeavor.  You will find BP an excellent resorurce.  North Jersey has frequent meet up's.  You should attend for the exposure.  Again, welcome to BP.

@Elosa A.  You need to investigate the Homeowners Association by laws and see if there are any restrictions regrding short term rentals and what fees are involved.   Short term rentals have there own set of challanges, repair, wear and tear, cleaning, inventory of items provided, etc.  

The Pocono's is a year round resort area both Water Parks are full on the weekends.  NASCAR racing is a big attraction and they are about to build there own facilities for guests.  The Tannersvill area is attractive,  new Hospital, another hospital being built, the exit ramp off of Route 80 is going to be upgraded which may offer some ccommuter challanges for awhile.  Camelback ski area and adventure park is a very attractive draw.  Now all you have to do is crunch the numbers and see if it meets your financial plan.  Again, good luck.

We, lcome to the BP family and to the Pocono's.  Plenty of opportunities in the Pocono's, some better than others.  Before you invest you should learn the region, invest your time in learning not only what is available but will it fit your business plan. Study the market and when you determine the specific area of interest, determine the true acquisition cost, the carrying cost and the cost to repair,  compare these numbers to the funds you have available.   Now your ready to go shopping.  Hope this helps.  Good luck.

@Ramona Lazard  I would utilize the best inspector in your area.   A systematic inspection could uncover some hidden problems and assist you in your buying decision.  Be present during the inspection process, don't participate or get in the way.  Make sure the utilities are on in order to have a full inspection completed.  I would have the RA give you a list of comps of recently sold properties in the area. Good luck.

Some areas of the Pocono's are more desireable than others for development.  Development takes time and money.  There is development going on in the area as well as expansion; new hospitals, medical parks, mixed use shopping centers, small residential communities and spot residential homes.  Boom and bust has been going on in the Pocono's for a considerable period of time and some individuals are always making it.  Good Luck

Had to respond regarding properties in Tobyhanna, PA.  the largest development is A Pocono Country Place that has close to 4,000 homes. Of this inventory of homes,many are the smaller homes that were originally constructed for weekend or seasonal occupancy.  Of recent date most of the occupancy is full time occupants.  Currently there are 110 houses available from $13,000. to $249,000.  In the past 12 months 244 houses were sold, 219 sold for under $90,000. and 22 homes sold for over $90,000.  This would certainly indicate that  a reasonable active market exists.  From my experience there are indifviduals who are actively acquiring houses for their buy and hold programs. The lower the price usually indicates the house requires more than TLC.  It is difficult to find such a large inventory of attractively priced homes, that are still reasonable priced after improvements.  Provided the information to give an alternate point of view.

@Kyle Toffey Welcome to the BP family you will find the experience rewarding. HOA's have some advantages,they control the quality of life and appearance of the development. Most have amenities that prevent cabin fever. The disadvantage is in most cases that the fee is tough to off set in your rental fees.

The Pocono's are broken down into several regions each with their own set of advantages and disadvantages. HOA communities many are gated communities which afford a certain degree of security as well as "Seasonal Recreational Amenities". You need to identify you're rental market, the commuter, the retired individuals or locals. My experience has been HOA's are not detremental to you're wealth. You might consider test marketing your area as well as speaking to realtors in your area that specialise in the rental market and determine the occupancy rate as well as the monthly rents. We are a little south of your market so I can't be of much help. We are house flippers and offer homes in HOA communities some object to the fees while others are not concerned due to the quality of life that the communites offer.

Where are your properties located in the Pocono's? What rent are you looking for? 

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@Scott Taylor  

I'm not much help to you, I'm an active flipper in the Pocono's.  However, I have been encountering individuals who own numbers of homes that they rent long term.  I just sold two homes that the buyers are going to use for "short term rentals", both markets appear to be rather active.  Which area are you exploring, short term or long term?