All Forum Posts by: Joseph Adelmann

Hi @Brandon Ribeiro

I have a 3 unit building in Pottsville and sold another 3 unit in Saint Clair back in the spring. I'd be happy to answer any questions you might have. As far as a property manager I can check with someone I know who used to do it to see if they still do. 

Hi @Pedro Bartolomei

You can fact check me on their site but this is my recollection of the process. You have to contact the Pottsville Housing Authority to let them know you have a property, provide them with information about the unit, and they will list it for people in the program. They will conduct an inspection of the unit and approve a certain amount of assistance based on what the number of bedrooms the tenant is eligible for, the unit's number of bedrooms, and the market rate for comparable units. From there it is a direct deposit every month, some follow-up inspections (they used to be yearly but I think they changed that), and they will reassess the assistance amount yearly (it has mostly changed a couple of dollars, except for one tenant who lost his or her job and then the program covered the entire rent). Here is their website
https://www.pottsvillehousing....

Hi @Pedro Bartolomei

I own a 3-unit apartment building in Pottsville and another 3-unit right up rt. 61 in Saint Clair. I think Pottsville and Schuylkill County, PA in general offers a good opportunity for cash flow because rents are high in comparison to house prices and seem to be stable. Pottsville's downtown had been in decline with lots of empty store fronts but I think the arrow is pointed up with a couple of new restaurants opening up in the downtown and Yuegnling is a large attraction. The Wheel has generated a lot of buzz including being named the Travel and Leisure Magazine's 12th best diner and the owner, Savas Logothetides, is very involved in revitalizing the downtown. (https://wnep.com/2018/06/26/wh...). But to @Christian Bors point, there are still not a lot of employers in the area although warehousing seems to be picking up in the county. And I think @David Bokman 's point is also on point that you shouldn't expect a lot of appreciation in this area.

Like with any rental, tenant screening is crucial in this area because opioids and other drugs have hit the area hard. Accepting Section 8 can be a great way to add stability and I have found success with this approach. Two of my tenants in the Pottsville property are enrolled in the Pottsville Housing Authority and I have had good experience working with that organization.

Joe Adelmann

Hi @Sarah Mainhart

One of my current tenants has property management experience so I could put you in touch with her. Also, I think slatehouse group Property management covers Schuylkill county so that is an option

Hi @Moshe Friedman

I think Schuylkill County can a good area for cash flow because rents are high in comparison to house prices and seem to be stable. Pottsville's downtown had been in declined with empty store fronts but I really think the arrow is pointed up with a couple of new restaurants opening up in the downtown. The Wheel has generated a lot of buzz including being named the Travel and Leisure Magazine's 12th best diner and the owner, Savas Logothetides, is very involved in revitalizing the downtown. (https://wnep.com/2018/06/26/wh...) I am less familiar with Schuylkill Haven and Tamaqua but I think they are good cash flow areas as well.

Like with any rental, tenant screening is crucial in this area because opioids and other drugs have hit the area hard. 2019 has been my first year without an eviction so it has been a learning process. Accepting Section 8 can be a great way to add stability and I have found success with this approach. All three of my tenants in the Pottsville property are enrolled in the Pottsville Housing Authority and I have had good experience working with that organization.

There is a Schuylkill County Real Estate Investors Group on Meetup.com which might be worth checking out. Feel free to message me with further questions or if you are interested in some numbers.

Joe Adelmann

@Dom Jones,

I still have both properties and all available units are still rented out. The Pottsville property has been really stable as of late, knock on wood. Even with the pandemic, my tenants have still received their housing assistance. One of my tenants in my saint clair property is interested in purchasing the property so we're reviewing our options to make that work. During that process, I am seeing some appreciation in the property but it's because I remodeled a lot of it. I see updates about Pottsville's revitalizing effort every so often and maybe with remote work gaining popularity, inexpensive cities will be on the rise.

No problem @Avi S., any time. I don't know local property managers but I believe Slatehouse Group Property Management, which is a growing property management company in central PA, services the Pottsville area. I'm not sure what areas of the county though so you would have to contact them. 

Hi @Avi S.,

I think Tamaqua, Schuylkill Haven, and some areas of Pottsville would be good places to look. There is some industry in the county. I used to work at Hexcel which is an aerospace manufacturer employing 300+ people. Also, Alcoa, Jeld-Wen, Fabcon, and Tredagar films all have plants in the county. The prisons also employ a lot of people and there are a fair amount of retail jobs. Warehousing and distribution is growing in that area with there being a Walmart and Lowe's distribution center there. Here is some interesting labor information: Schuylkill County Profile

Also, although Hamburg is in Berks County, there is a large shopping area which attracts people and jobs so that might be another option to consider. Best of luck!

Joe

Hi @Mike K.,

I can't offer much input when it comes to local banks but there are some good credit unions in the area. I went with Wells Fargo for the mortgage on my multifamily and don't have a mortgage on the other. 

Hi @Ramon Pena,

I self manage my properties so I don't have a lot of useful information on local property managers. You could check out Slatehouse Group Property Management. They are a growing property management company in central PA and I think they will manage properties in Schuylkill County. Best of luck!

Hey @Matt Lord,

I used to live in the Skook and have a 3 unit building in Pottsville and another 3 unit building in Saint Clair. I am pretty sure there is a Schuylkill County Real Estate Investors Meetup group that you can check out. Welcome to BiggerPockets!