All Forum Posts by: Chad G.

My wife and I live in NYC, but are looking to invest near my family in the Lehigh Valley. We are trying to find an investor focused agent (preferably an investor themselves) that is familiar with the greater Bethlehem area. Is there anyone investing in the Lehigh Valley that could recommend a good agent there?

Thanks,

Chad

@Dave Lin

Thanks for all your help! Are your clients investors or homeowners? I hear insurance costs are about 20-25% higher for investment properties.

@Christina Shackleton

Thanks, good luck to you as well. I agree there are definitely good things coming for the Lehigh Valley.

I found this for anyone looking for flood maps:

http://pafloodmaps.pa.gov/

This sounds like great news for investors with good financial habits.

http://twocents.lifehacker.com/new-rules-will-make...

I am curious if anyone out there is investing remotely in the Lehigh Valley (Allentown, Bethlehem or Easton) with lawyers and/or accountants local to their properties? If so, would you recommend anyone?

Thanks!

Thanks for the feedback. Wouldn't lawn care be included in the 10% maintenance already? Electric could be in the utilities, but why not pass that on the tenants? I realize the units would need separate meters if multifamily. What is the cost to install if a property wouldn't have this already (I'm now likely to invest if it already has this anyway)?

I grew up in the Lehigh Valley so end up going to see family regularly anyway, plus I did a market analysis and it's strong (I have a post about this, but can provide specific resources if you PM me). Much closer than Harrisburg too!

Jaysen Medhurst

I currently live in NYC, but looking to to invest where I grew up (Lehigh Valley) since real estate prices are more reasonable there.  I am interesting in hearing from folks that are investing remotely on the following questions:

• Do you have a local lawyer or one in the market you invest? 
• Did you register a business locally or in the market you invest?
• Do you have an accountant locally or in the market you invest?

Thanks,

Chad

I am just beginning to analyze properties for my first investment property, but I am unsure of these four things:

• Vacancy - I am using 8%, but I am curious what others see in Bethlehem (18018/18015) since some research indicated a lower rates and others much higher.
• Leasing Up Costs - I am using 1 month's rent (while my wife and I will attempt to handle this we are still calculating it into our analysis since we live in NYC and will likely need some help here). Is this the norm for the Lehigh Valley?
• Utilities - It looks like the city requires the landlord to cover the cost of trash removal. What value are local investors using per unit and what utilities does it include (e.g. sewer, water, etc.)?
• Insurance - Do I need to contact an insurance agent for each property I am analyzing or is there an average I can use here? What do local investors estimate for this in their own analysis?

I am also including the following expenses:

• Property Management - 10% (We expect to do this ourselves, but are including it nonetheless)
• Maintenance - 10%
• CapEx - 10%
• Taxes - based on the listing, but would validate with the county if the deal warrants further due diligence. 

Am I missing anything?

Thanks,

Chad

I live in Queens, but grew up in the Lehigh Valley. My wife and I are just beginning the hunt to make our first purchase out there. Haven't landed on a specific neighborhood or niche yet, but excited to hear others are doing the same.

 Thanks for the pointer. Macungie makes sense, my grandparents lived there at one point. Definitely nice there back in the day so worth looking into. Good to know Whitehall is a good spot for that too, I'll check out the North end.

What do you invest in and where?