Multi-family Investing in Pennsylvania

[Angelito Mamutuk]

Hello BP team!

I'm looking into purchasing a multi-family property in the Pennsylvania area and could use some guidance into what areas would be viable. Currently live in NJ and familiar with multi-families a little bit as I'm house hacking my current two family. I'm mostly familiar with the Poconos area near the resorts but I know it's more SRT over there and haven't found too many multi-families.

Would love to get some direction and/or network with someone doing this now.

Thanks!!

[Angelito Mamutuk]

wow appreciate all the responses guys!! very helpful insight.

@Ryan Chatman I'll take a look at the Scranton/Wilkes Barre area and start reaching out to some folks over there. 

@Raymond Temprano my parents recently moved to Easton, PA about a year ago and to get there, I always drive through Lehigh Valley (I'm assuming that's the same area). I know there's a University there and a good amount of businesses. Will reach out to agents to get a better feel for that market. Thanks!

@Matt M. hahaha that makes it more enticing for me actually ;]

@Charlie Cooper Yes I'm actively putting in offers in the Poconos, PA area for STRs. Since you mentioned the need for SFHs, I may look at that as well. Main reason I'm leaning more towards the STRs is because a friend of mine and her group of buddies have two rentals there and are doing very well. We actually stayed in one of their properties before COVID and they gave some good insight into the area. 

@Travis Wylie Will definitely look into the Harrisburg area! I've heard good things about that area from other people looking to explore PA as an investing opportunity. Do you have a lot of Multi-family homes out there or more SFH rentals?

@Jonathan Dempsey would love to pick your brain a bit more on your success in the Poconos! Unfortunately we've been getting outbid with our offers (and we're offering asking or even more) so still hunting for deals out there.

@Ralph DiBugnara where did your purchase your SFH? in the Poconos? And going multi-family is a personal choice of mine. Ever since I learned about real estate, I was always drawn to multi-family rentals because the way I always viewed them was getting 2 houses for the price of one (or 3, or 4, depending how many units). Maybe down the road I'll explore more SFH rentals but my focus is SRTs in the Poconos market and/or multis in the above neighborhoods mentioned.