Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
Karl is the king on this one lol . Erie has lots of opportunities but you really ought to know the area before investing there . I don’t actually live there so I had to learn some stuff myself . Some places seem good with cheap property but it’s just a bunch of lowlife crackheads . The predominantly held belief is the west side is the “ good” side and east side is the dangerous “bad “side . confusion comes into play because there’s ghetto areas on both sides and the reality is much different than the commonly held idea to stay on the west side for investing . I have found “ in general” the rental rates are about the same either way and your better off on the east side for cash flow and the west side for appreciation . It isn’t like Philadelphia or Detroit when it comes to crime . Erie is pretty tame for the most part . I don’t find it to be dangerous even in the hood areas
Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
7y
Lowest I ever went was 45K on a duplex with around a 3K rehab. A nice C+ area neighborhood on the west side that gets me $1300 a month plus late fees because neither tenant can ever pay on time = free pizza and beer money for Karl B.
You can actually get 30somethingK SFH in Erie that aren't in awful parts of the town but I would suggest knowing the city areas well before attempting else you'll end up like some of these out of town investors buying on German St., Ash Street, Wayne, etc.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
Karl is the king on this one lol . Erie has lots of opportunities but you really ought to know the area before investing there . I don’t actually live there so I had to learn some stuff myself . Some places seem good with cheap property but it’s just a bunch of lowlife crackheads . The predominantly held belief is the west side is the “ good” side and east side is the dangerous “bad “side . confusion comes into play because there’s ghetto areas on both sides and the reality is much different than the commonly held idea to stay on the west side for investing . I have found “ in general” the rental rates are about the same either way and your better off on the east side for cash flow and the west side for appreciation . It isn’t like Philadelphia or Detroit when it comes to crime . Erie is pretty tame for the most part . I don’t find it to be dangerous even in the hood areas
Karl is the king on this one lol . Erie has lots of opportunities but you really ought to know the area before investing there . I don’t actually live there so I had to learn some stuff myself . Some places seem good with cheap property but it’s just a bunch of lowlife crackheads . The predominantly held belief is the west side is the “ good” side and east side is the dangerous “bad “side . confusion comes into play because there’s ghetto areas on both sides and the reality is much different than the commonly held idea to stay on the west side for investing . I have found “ in general” the rental rates are about the same either way and your better off on the east side for cash flow and the west side for appreciation . It isn’t like Philadelphia or Detroit when it comes to crime . Erie is pretty tame for the most part . I don’t find it to be dangerous even in the hood areas
I always thought you lived in Erie. Now I'm convinced you live in an underground bunker logged into BP! :-)
Property Manager · Ridley, PA · Member since 2017 · 427 posts · 449 votes
7y
@Denise George I've never been to Erie. After watching the Netflix documentary "Evil Genius", I'm pretty certain I'll never step foot in Erie. If the tenant base is anything like those characters, don't walk, run!
@Denise George I've never been to Erie. After watching the Netflix documentary "Evil Genius", I'm pretty certain I'll never step foot in Erie. If the tenant base is anything like those characters, don't walk, run!
I had a tenant do something Sunday that is pretty bad. Goodness gracious, Erie.
I own six rental properties in Erie, PA. I have two properties I bought for under 30k but they are in the “hood” areas of the east side. I have had ups and downs mostly with the inherited tenants that came with the properties. I got rid of the bad tenants and have good tenants now.
I guess I have had good and bad but message me if you have any questions!
Investor · Erie, PA · Member since 2016 · 8 posts · 7 votes
4y
@Dell J. do you mean the Liberty Street that runs from the bay all the way up to Peach Street? If so, then I’m pretty familiar as I own two duplexes, one on Liberty St and one a block from Liberty in two different parts of town.