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Updated over 3 years ago,

User Stats

4
Posts
5
Votes
Lei Marte
  • New to Real Estate
  • Boston, MA
5
Votes |
4
Posts

Out of state Investing in PA?

Lei Marte
  • New to Real Estate
  • Boston, MA
Posted

Hi BP Forums,

I live in a highly competitive and high cost of living area in the north east (Boston area) and I own my own condo which I hope to rent out in the future.  The plan was to move into a house hacking situation, but multi's are few and far between.  I just graduated college in 2018 so I am barely getting started.

As an alternative, I have been looking to increase my cash flow and grow a portfolio in other states.  PA is one of the states that have come across my radar.  Some properties out there boast 7-9% cap rates, which are unheard of in my market.  I also read that PA is one of the most landlord friendly states.  Barrier's to entry seem to be low, it's not too far for me to be able to drive down on a weekend, and returns seem healthy.  

Do we have any lehigh valley investors or agents on here who can provide some on the ground perspective?  I can look at the data until I am blue in the face, nothing beats first-hand experience.  Are cap rates really that good?  Does the state penalize out of state landlords via higher taxes?  Stats say that the area population has grown faster than the state avg, and median income has grown but not as much as the avg. The stats are a mixed bag, so I am looking for some perspective here.  

Thanks!

Lei

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