Looking for a great cashflowing town? Try Erie PA!

[Brandon Penn]

Hey Gang! So I got a lot of traffic on my post a few months ago about hitting my goal of 100 rental units. A ton of people had commented and private messaged me about aquiring property, and how hard it is for them to get cash flowing properties where they live.

I would like to tell you all about my hometown of Erie, PA. We are currently undergoing a renaissance that is bringing the City back to life. For many years we have been stuck in our old ways of manufacturing and a slowly declining economy. In the past few years (mainly because of the uncertainty of GE Transportation) we have been forced to move from manufacturing into other areas such as hospitality and entrepreneurship. We are starting to see a turn in our economy as well as our thinking.

We have 3 big colleges in our town, and many of these young people are starting to stay in the area now that there are more oppourtinites coming available to what they were going to school for. This makes it a good area for college rentals as well. 

While it may not be the best place for appreciation, Erie is an amazing city to purchase for cashflow. For example most of my portfolio has a cap rate of 17% or higher! If you are looking for a place outside of your hometown to invest Erie, PA might be the place for you.