1st time remotely managing rental property-Hampden township PA

[Pratul Singh]

Hello everyone,

I am very interested to invest in a property in Hampden township, PA but soon will be moving out of the area. Details of the property.

1. 2 units: Main and a lower level basement converted into a another unit.

2. Gas: heat and electric

3. CV school district

I have read a lot on bigger pockets and learnt from podcasts on remotely managing rental properties. Also this will be my 1st time being a home owner if this investment goes through. My main questions to the folks out here are as follows.

Question 1: Since I might move out within a year or 2, I am trying to understand what risks do I have managing it remotely as a rental property in this particular area. 

Question 2: The rental demand in this area? I believe this area has good chances of renting out due to CV school district and everything nearby but I don't have a 1st hand experience of how actually the demand is? Ideally I would like to rent out to families for both units.

It will be very helpful if I can get any suggestions and tips on these two questions AND other concerns too since I am a newbie in real estate investments. Thanks!!!

[Josh Caldwell]

Not my part of the state, I dont know the area but I can tell you about distance management. 

The problem with distance management is that you need to lean on other people who you can't really oversee.  Out of town owners have more problems with contractors ripping them off than anything.  Property managers can also be an issue. You will want to fully vet your property managers to make sure that they properly screen your tenants, and actually attempt to get you long term tenants rather that quick turnover and more commission for themselves.  

I dont know your school dist, but if it is a good one, you shouldnt have trouble getting renters.  Sorry, if you were in Western PA I could offer more help.