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Updated almost 7 years ago on . Most recent reply

User Stats

19
Posts
7
Votes
Quincy Adams
Pro Member
  • Investor
  • Saint George, UT
7
Votes |
19
Posts

Harrisburg, PA Rental property, first deal, need advice

Quincy Adams
Pro Member
  • Investor
  • Saint George, UT
Posted

I'm looking to invest, not quite sure where, but I came across some deals in Harrisburg, PA (I'm in Utah).  What taxes should I be aware of (again, from out of state), hidden fees that a first time investor should factor into a deal.  Asking price is $28k, occupied by tenant.  $800 a month rent.  Realtor says "minor repairs would be nice."

Also on older homes do they require more than 20% down?

I've used the rent calculator and the numbers look really good, but I don't want to be missing anything.  Also I would be looking for a good PM company.

I used Trulia to check out the neighborhood, seemed good, but close to some "red areas".  Below is a link to the property.

https://www.zillow.com/homes/for_sale/86411869_zpi...

  • Quincy Adams
  • Most Popular Reply

    User Stats

    197
    Posts
    106
    Votes
    Chad Gallagher
    • Rental Property Investor
    • mid atlantic
    106
    Votes |
    197
    Posts
    Chad Gallagher
    • Rental Property Investor
    • mid atlantic
    Replied

    For sure a higher variance year to year in the rougher areas in Harrisburg.  To me, one of the keys is to make sure you have money set aside in case you need to evict / rehab the property post eviction.  Where we see investors run into a LOT of issues is when they don't have extra money set aside.  

    We manage and own a lot of properties in Harrisburg --- always happy to answer specific questions about the area / rents / etc.  We've seen some good returns, and also have seen a lot of rough turn-overs.    

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