Pittsburgh, PA · Member since 2018 · 6 posts · 0 votes
Hi,
I live in Staten Island, NY and looking forward to buying my first investment property (preferably a multi-family unit) in York, Pennsylvania. The reason is because properties' cost is lower in PA than in Staten Island. I was told that York is a good place to invest in. I am looking forward to suggestions, warnings or anything else that i should be aware of. Is York a good city to invest in? If anybody knows any zipcodes/ areas that would be good or bad for investment. Also, most of the properties that i saw are close to 100 years old. Is lot of maintenance required (after the initial one) when buying old houses? I know that I am asking lots of questions but i just have so many :) . Any question that you can answer would be highly appreciated. Thanks.
@Sadia Abbasi Welcome to Bigger Pockets. I have a friend from Staten Island who recently purchased three investment properties in the York, PA area. Prices are definitely cheaper there, but keep in mind you need to be able to keep an eye on your properties so it would be prudent to live close to where you invest. Also please fill out your Profile and insert a Photo. Thanks!
Welcome to BP @Sadia Abbasi! Sounds like you’re off to a good start. The various forum are great places to ask questions!
There are plenty of markets that are great for investments. I’m looking at several in Texas myself. I’m sure some other folks with knowledge about York will chime in.
Regarding my older homes that almost is a per property question. It depends on the home itself, what if any rehab/upgrades have already been done, and other variables.
As you continue on BP I recommend filling out your profile, listening to the podcasts, and networking with others (through BP online and/or with a local REI group). Also, the calculators on here are great. You have limited use of them but if you upgrade to pro you get unlimited use of them (among other benefits).
Welcome again, feel free to ask more questions, and good luck as you begin!
@Sadia Abbasi Welcome to Bigger Pockets. I have a friend from Staten Island who recently purchased three investment properties in the York, PA area. Prices are definitely cheaper there, but keep in mind you need to be able to keep an eye on your properties so it would be prudent to live close to where you invest. Also please fill out your Profile and insert a Photo. Thanks!
Don’t rule out Staten Island completely. I don’t know what your budget is but I know a house was sold for $150k (poor condition) this past March and this past weekend was on the market for almost $350k after being completely rehabbed. Deals are out there!
I live in Staten Island, NY and looking forward to buying my first investment property (preferably a multi-family unit) in York, Pennsylvania. The reason is because properties' cost is lower in PA than in Staten Island. I was told that York is a good place to invest in. I am looking forward to suggestions, warnings or anything else that i should be aware of. Is York a good city to invest in? If anybody knows any zipcodes/ areas that would be good or bad for investment. Also, most of the properties that i saw are close to 100 years old. Is lot of maintenance required (after the initial one) when buying old houses? I know that I am asking lots of questions but i just have so many :) . Any question that you can answer would be highly appreciated. Thanks.
@Rhonda E. Welcome! I live in York and currently work with an out of state investor who owns a few multi-families in York. I will help you anyway possible as your bird-dog, I am in the city often as I run maintenance for my investor as well as bird dog for him also. Let me know what type of property, how many units, price range etc. and I will do whatever I can for you.
Thank you Allan. Since this is my first investment, I changed my mind about buying a property in York. Most of these properties were built in 1900 and also had a high crime rate. I am currently looking in Pittsburgh. Hopefully, I will find something there.
Thank you Judy. I did look in Staten Island for some time but they seem pretty expensive like more than 400K range. Since this is my first investment I would prefer not to go above 200K. I will update my profile soon :)
@Sadia Abbasi, have you checked out Lackawanna county in PA: Scranton, Dunmore, Olyphant, Dickson City areas to name a few? 2 hours to NYC and about same to Philly. Reasonable prices, cash-flowing rents, and closer to you. Might be worth your time to investigate.