BRRRR in Scranton PA?

[Stu Basham]

Hi all,

After several months of trying to find some BRRRR strategy options in West Philly we've decided to look elsewhere. We were under contract for 2 different properties but both ended up needing full gut rehabs for over 70k in repairs and the ARV was too low to be able to pull anything back out of the deal when we refinanced. Has this happened to anyone there?

So we are looking into Scranton or maybe other areas that might work. Any ideas? We live in Jersey City so would like to either be a few hours away or have a solid team on the ground to handle everything. 

Thanks in advance

[Irfan Raza]

Many areas of West Philly the ARVs are not that great, but the cash flow is. West Philly is a big place that breaks down in several neighborhoods. We have been able to successfully BRRRR in West Philly but the ARV can often play an issue in getting all money back.