All Forum Posts by: Arturo Sanchez

I have to offer a correction to Joe's post. The DIG subgroup meeting next week is not in Phoenixville; it is in Collegeville (the speaker that night is from Phoenixville though).

Thanks Steve! look forward to meeting you and others next week.

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Philadelphia, Pennsylvania

Originally posted by @Percy N.:

@Arturo Sanchez, you may also want to ready this thread...

https://www.biggerpockets.com/forums/742/topics/11...

Thanks for posting this Percy. This sheds much more light on the situation.

0 Votes

Philadelphia, Pennsylvania

Originally posted by @James Masotti:

I would echo a lot of what @Joe Mulcahy said. Pottstown and Reading are rough...if you're willing to deal with the headaches than you can definitely make some money there, but you'll pay for it in sanity. Norristown might be a bit more expensive...but you'll be able to sleep a bit easier (again assuming you pick the right neighborhoods).

Good Luck!

Thanks for your input James, we definitely have a lot more research to do before making a decision. As you say it might not be worth the headaches, and with our plan being to hold long term we must be very careful.

0 Votes

Philadelphia, Pennsylvania

Originally posted by @Joe Mulcahy:

Hi Arturo.I am an investor just starting out. I have a few properties in Delaware county and one in Pottsgrove near Pottstown. They are all single family. As far as Pottstown is concern it can be a tough city.High taxes, lots of homes with oil heat (which can be tough on tenants) and low property values. On the other hand you can get cheap properties and the 2% rule (purchase price to rent ratio) can be achieved. Norristown is the same although they have a lot of gas heat homes (which attracts tenants) and taxes are cheaper. Also Norristown has septa which can draw renter too. Norristown does have its tough areas as well. Reading is like Pottstown but has low taxes but also lower rents. I would suggest getting a realtor and look a lot of properties to get a feel for what is out there. Go on Craigslist and see what places are renting and go see a few apartments. Also go to some real estate meetups and connect with other investors. I belong to DIG (diversified investor Group).They have monthly meeting and have speaker and talk about real estate.There is one new week in Phoenixville next week.The fist meeting is free.You can find out on meetup.com or go to DIGonline.org.

Thanks,

Joe Mulcahy

Thanks for your input Joe, you have confirmed some of my fears and it what you/re saying makes a lot of sense. We have been looking on realtor.com so far, trying to avoid a realtor for the added costs. But, a realtor would have many leads we will never see so that will be our next step. I hope to meet you guys at the DIG meetup next week!

0 Votes

Philadelphia, Pennsylvania

Hello Bigger Pockets!

Thanks for checking out my thread, I'm Arturo. My fiancee and I are currently searching for our first investment property in Montgomery County, PA. Specifically small multi-family rental properties that we want to buy and hold. We want to stay as close to home as possible (we live in Limerick), and are curious about the best/worst areas to invest. We have done a lot of research and found tons of properties in Pottstown, Norristown and Reading, but have heard some troubling reviews of these areas regarding: tenants, taxes and political issues. Can anyone agree or deny these claims from personal experience, and if so suggest other areas to begin searching? Thank you

1 Vote

Philadelphia, Pennsylvania

All Forum Posts by: Arturo Sanchez

Arturo Sanchez has started 1 posts and replied 5 times.

Post: Montgomery County RE Information!

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