Scranton,PA and Binghamton, NY area (thoughts?)

[Jorge Crespo]

Hi all,

I'm looking into the Scranton, PA area around Hyde Park as well as the Binghamton Metro area in NY. I would potentially be an out of state investor... Looking into the properties here they look very cheap compared to what I've seen in other markets.

Is this a cyclical type of market or is there a deeper reason that the market is on the downturn as of recent? I've thought about possibly buying in the area such as Multi family rentals, but I don't know if it would be a good long term play or not. Does anyone from that area have any more insight? I've noticed higher taxes, but that wouldn't deter me from buying in the area. I see vacancy is very high there ~15-16% as well as income. 

Would love to hear your thoughts!

[Gary Kline]

@Jorge Crespo. Binghamton area prices are cheap...rents are good... cap rate often great. Appreciation minimum... downside even less.

Been a RealEstate attorney here for 30 years... I have seen it all...

I have clients making money in student rentals, market rate and others in low income housing.

There is room for all... depends on your risk tolerance and of course pocketbook.

Contact me if you want to discuss further.

@Stephanie Jacobson