Glen Lyon (York, Nanticoke: section 8, real estate, rent to own)

[New Englander]

I wanted to ask everyone’s opinion about Glen Lyon. My parents have a house out there which they have not visited in a while. The other day, they said that they would give it to me for free as long as I could do something with it (fix it up and sell or rent it).

It’s been a long time since I went out there. Back then the place seemed to be a working class backwater with an aging housing stock. I am not sure if things have gotten better or worse since then.

A bit about me: I’m in my 20s, Harvard Grad, working in Finance in Boston, with a possible move to New York City. I am a value driven real estate investor, who usually prefers buying rundown places, fixing them up and renting them long term.

Since I would be getting this house virtually free, I am thinking about what would be the best plan: To fix up the place and sell or rent it out. I don’t want to maintain a residence there, so living in would not be a part of the plan.

The place needs a lot of cosmetic work and I think that if I sell it as-is, my return would be terrible, so I have decided that I will definitely need to improve the property. Besides, it will help the community by removing one more eyesore.

Any insights would be most appreciated!

[thecoalman]

I don't know if I'd refer to it as "backwater" but certainly a old town with a lot of old houses. Haven;t been through that way in awhile but I's imagine there isn't whole lot left on Main street.

The situation you face is pretty common here in the Valley, a lot of elderly with small older houses where the kids are not interested in them or they can get very little for them. Usually end up going to some out of town "slumlord" who rents them or for section 8. Actually quite depressing as the old neighborhoods go down the tubes.

Personally I'd suggest taking a trip to check it out becuse it could be anything from decent to dump. Has anybody been taking care of it?

[New Englander]

I didn't mean anything negative by backwater. To me, it used feel like W-B to Nanticoke to Glen Lyon the population kept getting smaller and smaller. Glen Lyon used to have only one traffic light back then, not sure if things are much different now.

I definitely don't want to go the slumlord way, but need to do my research by taking a trip out there. As far as I know, no one has been taking care of it besides cutting the grass and grabbing the mail.

[Magritte25]

It's a small town with next to no businesses. My friend lives there and he has a very nice house, nice yard and garage. It's a quiet place.

If you are going to flip the house, that'd be great. But don't expect to make a killing on it. No one is going to pay big bucks to live in Glen Lyon.

[New Englander]

Thanks for the input.I guess something needs to be done with the place.

Are there any issues with the town? Please be honest.

[Magritte25]

Originally Posted by New Englander

Thanks for the input.I guess something needs to be done with the place.

Are there any issues with the town? Please be honest.

Not that I'm aware of. It's a podunk little town. But for a family looking to live in a quiet town, it's good. *I* wouldn't live there but that is only because I don't drive and I like to be closer to a downtown area.

My friend and his wife are raising their children there and have been there for many years.

I think you could be successful doing a rent to own type of thing.

[New Englander]

Originally Posted by Magritte25

Not that I'm aware of. It's a podunk little town. But for a family looking to live in a quiet town, it's good. *I* wouldn't live there but that is only because I don't drive and I like to be closer to a downtown area.

My friend and his wife are raising their children there and have been there for many years.

I think you could be successful doing a rent to own type of thing.

Excellent! Thank you very much for the information. I am just thinking of possibilities and rent to own might be a great option for a family just starting out, and I'll be able to sell a piece of property that no longer fits my plans.

Pa is a great state! It's too bad that my work and investments take me elsewhere.

[bpelak]

Glen Lyon Girl:
Please come back and fix it up, rent it or selll, but PLEASE do not be an absent landlord. We have a very active Neighborhood Citizens Group and are trying in getting houses torn down when needed or sold if possible.

thanks