Hi Everyone,
Looking to begin my journey in out of state investing in Scranton PA and surrounding areas. Bought my first property in March of '22 in my backyard on Long Island.
My question is in regards to Scranton and the potential for growth. I've read many other forum posts explaining how natural appreciation in Scranton is very slow but will cash flow nicely in the right area. In my research I've found that there are a handful of developers who are spending big money to renovate and rehab the downtown area and that the Scranton School Board is under new leadership, allowing the district to finally exit from its "financial recovery" phase. The city also seems to have many improvement plans in place to make the area more walkable and safer for citizens to freely navigate the downtown area and support local business. The rumblings of the NYC to Scranton Amtrak line seem more realistic than ever before with big funding from various state and federal programs.
All of these potential improvements make it seem like Scranton is heading in the right direction and may actually have nicely appreciating properties in the distant future. Are there any local investors/veteran out of state investors who are seeing actual improvement in the area? I'd love to connect and pick your brain about the area.
Best,
Mike
