All Forum Posts by: Jeff Lamothe

Thanks for reaching out to me @Lizbeth Vaquero.   I am looking to check around the area pretty soon and would love to meet with realtors that understands the market.  I will send you an email. 

Thanks for the feedback @Chris K.  

1.  The job growth at those areas are a little mixed.  It appears as if Scranton is at negative 5% loss over the past 10 years and Wilkes-Barre is showing 6% growth.   

2. Thanks for mentioning Allegheny County.  I know that Philadelphia has differences in their landlord-tenant laws.  

That was a clever initial response @Brian Garlington.   LOL

How's it going @Lawrence Ratliff.   Some the midwest markets that appears to meet my criteria includes Columbus Ohio, and Milwaukee, WI.   The only exception for Milwaukee is that it didn't have that 5 to 10% job growth based on Bureau of Labor Statistics.   I can imagine Cleveland would be a good ideal as well, but I have to dig into it and find the desirable working class neighborhoods.   

Thanks for the feedback @Rich O'Neill.  I will certainly look into Delaware county and see if I like what I see and the numbers make sense.  

Thanks for the feedback @Charlie Cooper.

Hello BP,

   Just finished reading David Greene's Long Distance Real Estate investing book, which got me motivated.  I am based out of Connecticut and looking for out of state, buy and hold properties.  I have looked into several different markets throughout the country, including the South, Mid-West, and West Coast.    Based on my preliminary analysis, the Mid-West appears to be the way to go.   

But since this will be my first out of state market, I would prefer to find something within a couple hours driving distance (2-3 hours), that has balanced landlord/tenant laws.   My search has led me to Pennsylvania, where I've read some good BP forum discussions for Allentown, Harrisburg, and Scranton.  I would've been interested in Philly, but it is my understanding that the city leans towards tenants or even hostile towards landlords.   

I would be interested in getting feedback from other investors in the Pennsylvania (non-Philly) market and let me know how they are doing with rentals.   

Below are some of my key criteria for a long distance property:

1) Total acquisition and repair cost $100K (assuming single family).   Willing to put in more for a duplex.  

2) Meets the 1% rule of rental income / purchase price.  Key target would be 1.25% to 1.5% rental income. 

3) Balanced landlord/tenant laws, but I wouldn't mind landlord friendly regions.  

4) At least 4 to 5 Property Management companies, with google ratings of 4.5 and higher.  

5) No warzones.   Will accept some moderate petty crime, but no major violent crimes.  

6) Stable job market.   (5 to 10% job growth in last 10 years).  

Thanks in advance.  

Glad to hear that your situation was resolved and able to proceed forward @Roy Gutierrez.

Thanks for sharing your situation @Kenneth C. I have been researching similar BF/GF tenant issues like yours because I am encountering a situation that is somewhat similar to yours.    

@Filipe Pereira - Do you mind if I reach out to you to discuss my specific scenario, since we're both in the same state?     

Thanks for sharing this situation @George Waters.  I am looking at previous Boyfriend / Girlfriend tenant issues to see if any any matches a case that I have.  The only difference to your story is that both were already behind on rent when one of the two moved out.