All Forum Posts by: Stephen Franco

I have been investing and living in Luzerne/Lackawanna counties of Northeastern PA for over 10 years

My usual cap rate is 13-15% after a 10/10/10 pad and at the lowest I get is 10.

As a wholesaler and realtor, I can do the same for you

Also, I handle alot of private lending deals offering returns of 10-14% per deal, sometimes less than a year

I have been investing and living in Luzerne/Lackawanna counties of Northeastern PA for over 10 years

My usual cap rate is 13-15% after a 10/10/10 pad and at the lowest I get is 10.  

As a wholesaler and realtor, I can do the same for you

Also, I handle alot of private lending deals offering returns of 10-14% per deal, sometimes less than a year

I am a longtime resident (from Boston in 1996)

I have been investing in the Northeastern PA area since 2004

As an investor, and realtor, and wholesaler here I can CONFIDENTLY say:

Scranton city is the hardest community to work in for our region.  Still easy compared to other places in the "real world" outside of Northeast PA, but harder

Most of my investors buy anywhere but the city, but several do really well

My clients who lend me money for private lending do REALLY well without owning

(10-25%)

My clients who buy through me usually net after maintenance/vacancy/management pad of 30% (total) about a 15% cap rate.  Low end is 10, high is 25

I am currently bringing on 18 off market units, rented and in good shape with low costs.  Gross rent 130k, asking 330k including fee.  Buyer pays closing costs (transfer taxes and related) 

An example deal:

Turn Key  12% cap rate   long term tenants - needs nothing

excellent ROI- 12 unit with long term tenants located in Glen Lyon PA- a quiet suburb of Wilkes Barre

Asking 350K  

 lot of 18 properties totaling 32 units -  some vacant, some occupied- all in Wilkes Barre PA      good cap rate 10% +    Very Negotiable !  

great rental or starter home-   tiled bath, hardwood floors, very light cosmetics needed  

Cash offers needed now

finally getting my stride on training. Seminars & mentoring...while encouraging students to come to me for JV. The first two are to pay the costs of doing it, the JV is where money hits my pocket.

PA tax sales especially repository are UNRELIABLE info.  I haven't heard of re assesment after purchase, but it could happen.  Mostly, I'd say go for it, but be ready for taxes to change...

I do really well with tax sales in Luzerne County PA etc...

sorry, i just saw your note about my $75 per door profit. here's how it works

rent

-30% for maint, vacancy, management

-hard costs

______

NOI

- 75/door/month profit

this determines max mortgage payment.

Normally pays for 25-30k/unit