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Northeastern Pennsylvania Scranton, Wilkes-Barre, Pocono area
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Old 08-02-2013, 05:14 AM
 
8 posts, read 12,768 times
Reputation: 15

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Hello

We intend to buy a house for investment in Luzerne county/Lackawanna county PA.
As i was looking on Zillow, I saw there aren't too many houses for rent there.
Is it good beacause that means the renal properties are taken quickly or is it bad because nobody's renting there...?

Thanks for any advice/suggestion
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Old 08-02-2013, 06:31 AM
 
Location: Burlington, VT
15 posts, read 44,459 times
Reputation: 24
Your best bet to feel the rental market is to call a broker or search some craigslist listings for that area.
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Old 08-02-2013, 06:35 AM
 
2,861 posts, read 3,851,677 times
Reputation: 2351
Quote:
Originally Posted by gilychen1984 View Post
Hello

We intend to buy a house for investment in Luzerne county/Lackawanna county PA.
As i was looking on Zillow, I saw there aren't too many houses for rent there.
Is it good beacause that means the renal properties are taken quickly or is it bad because nobody's renting there...?

Thanks for any advice/suggestion
I doubt the problem is a shortage of renters...
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Old 08-02-2013, 06:48 AM
 
Location: Drama Central
4,083 posts, read 9,098,909 times
Reputation: 1893
Are you going to be an out of state landlord?
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Old 08-02-2013, 07:15 AM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,617 posts, read 77,624,272 times
Reputation: 19102
Quote:
Originally Posted by weluvpa View Post
Are you going to be an out of state landlord?
Why do I presume you posted this with this: : in mind? Not every out-of-state landlord is a "slumlord".
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Old 08-03-2013, 10:30 AM
 
8 posts, read 12,768 times
Reputation: 15
I am out of state (-:
What the difference?
Thanks
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Old 08-03-2013, 12:02 PM
 
Location: Saylorsburg, PA
1,935 posts, read 3,144,908 times
Reputation: 1420
search these boards and you'll find tons of questions of the same thing with lots of answers as well...
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Old 08-03-2013, 01:01 PM
 
Location: Drama Central
4,083 posts, read 9,098,909 times
Reputation: 1893
Quote:
Originally Posted by gilychen1984 View Post
I am out of state (-:
What the difference?
Thanks

The difference is that most of the "out of state" landlords are running dumps and renting to section 8 trash that is infecting the city. The landlords are part of the problem here in the city and they are buying up cheap homes (as investments)in the city because no one wants to live here anymore, except the trash..
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Old 08-04-2013, 05:53 AM
 
2,760 posts, read 3,954,370 times
Reputation: 1977
Quote:
Originally Posted by weluvpa View Post
The difference is that most of the "out of state" landlords are running dumps and renting to section 8 trash that is infecting the city. The landlords are part of the problem here in the city and they are buying up cheap homes (as investments)in the city because no one wants to live here anymore, except the trash..
Bravo and thank you! Absentee landlords are a HUGE problem for our city and I presume Wilkes-Barre as well! Some of us with more mileage and life lessons innately know this. Not every response is a challenge of beliefs and insulting, some times they are "...just the facts.."!
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Old 08-04-2013, 01:09 PM
 
452 posts, read 682,100 times
Reputation: 598
Hey Gilychen, Any chance of sharing the criteria(s) you used to determine that this area is best suited for a reasonable 7% to 10% return on your investment? Taking into account the over-all economic health of the counties you are interested in, seems to me that there are better locations for an investment in the housing market.
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