All Forum Posts by: John Moore

@Pavel Redko Welcome to the BP family and thank you for your service.   This is one of the best groups you can associate with and you can save an abundance of time by reviewing some of the free aspects.  The files on systems and forms can save you from reinventing the wheel or help you refine what you may already have.  Good to review some of the situations others have encountered and avoid them.  Good to see you becoming active we all encounter some issues it's how you handle them that's most important.  Good luck.

Welcome to the BP family.  Good luck with your business plan.  You are in a good market.

@LynIaire McGovern; to address the issue of lower pricing of the housing inventory; it's the old story of supply and demand.  The more houses that are available the more competitive the prices the lower the price point the more difficult it becomes for the appraiser to get realistic prices for comps. 

Rentals come in many degrees, long term,short term, seasonal and weekend to name a few.  In private communities some encourage rental programs while others frown upon them.  In gated communities the short term renter or weekend renter requires additional work (entry passes, etc.) and due to the additional paperwork and staff requirements they look upon the rental market as an opportunity to make additional income and charge for the services.  Many communities frown upon certain types of renters (weekenders) as they feel they contribute to the discomfort of other property owners so it is best to identify the renter atmosphere of the development.  In today's Pocono Record Newspaper there is a good article regarding rentals in the Pocono's.  Get your relatives to get you a copy of the article it is quite informative.

@Lynn McGovern The Tobyhanna area is an excellent area for buy and hold. Zillow is not the best source for comps., but you are quite right about prices; they have been stagnent in the used house market for some time. The housing mix is older seasonal homes and newer homes, lots of foreclosures. The area has several large developments with high HOA fees and some have renter fees. There are several excellent Realtors that are active in Rental/Property Management that can assist you. I would not purchase anything until you visit the area and scope out a development you feel comfortable with. Many investors rent to NY commuters as there are 3 commuter bus services; I have not experienced prices going down but unfortunately they have not appreciated much over the years. The area is expanding, new hospitals, new indoor water parks, reasonable good shoping (100 Outlet Stores); most developments have recreational facilities that families find attractive. You can also acquire properties that are not in developments as part of the market does not like the "restrictive atmosphere" of some developments. Don't let Zillow's yo yo prices influence you. Visist the area or have your relatives do some research for you. Good luck.

@Glenn Patti

Good to see you step off the side lines and participate more actively.  I flip houses in the Pocono's in Monroe County.  Appears to be a very active market and in particular the buy and hold group.  Welcome to the BP family.

@Tyler Leonard  Excellent job, good pictures, excellent profit.

@Karan Manglani The Pocono's has been in transition for year's.   It became a primary home area and the smaller, older homes became rental properties.   In the rental arena there are two markets the long term renter and the seasonal renter.   Many housing units are in Communities with by-laws and some of these look upon short term renters as an income source as they charge the renter a fee.  Other communities resist short term renters as they assume the renter is going to party hardy and disturb the peace and quiet of the neighborhood.  My suggestion would be is to determine the policy of the development(s) and decide from there.  The Tannersville area is a good are with a good selection of properties.   Long Pond (Emerald Lakes) Pocono Summit (Stillwater Lakes & Stillwater Lake Estates would also be good areas to consider.  Coolbaugh Township Pocono Farms is also one to consider.  Most of these area have reasonable priced properties and a selection of Property Managers to choose from.  Good Luck

@Errol Watson; I'm active in the Pocono area and can suggest a good title company; call or PM me.

@Errol 

@Errol Watson  You might have better luck and a larger universe to work with if you utilize Pocono Craigs List and indicate specific craftsmen/women.  Hope this helps.

@Kelley Gabany  Welcome to the BP family, I am sure you will enjoy the excellent resources that are available. And good luck with this year's selling season.