East Coast Real Estate

This thread is to talk about real estate in the east.

There is a high level of certainty that I will be moving from sunny PHX back to the NJ/PA area again.

I did some investing down here and was plugged into a great network where I found some sweet deals for the real estate investing, and for living as well.

I have researched the basic avenues I started with here, but the results seem pretty pathetic. I have also researched foreclosures like I have here and the results have been pretty poor too.

Down here there are investment groups who attend the foreclosure auctions, purchase and flip to investors and the deals are pretty awesome.

Not even sure why I am posting this here, I doubt anyone has tapped into the network or if one even exists, but if you live in the PA/NJ area and have some contacts for this sort of thing let me know.

What I have done is the Google search for the topic, I am on 3-5 newsletters, on the Homevestor email list etc..but I am looking for that NEXT level. It might mean me going to some local investing groups but since I am living here that is kind of tough.

can't help you on the homes.  i got your back if you need any type of commercial real estate service. 

Thanks, I appreciate it.

I get the feeling that people are more organized in groups investing wise down here than in the area I might be moving to.

Rat,

Former not the latter...



jt..I have a good feel on the AZ foreclosure market because I took years developing resources and contacts..out there I have no clue.

wall - i have some friends who are agents and the one i "sort of" trust tells me that inventory is very high and that sellers are becoming a bit more reasonable with their offers

Koaj,

Yeah..I have done some prelim MLS searches and the pricing is like out here..unrealistic.

I wouldnt mind doing leg work and dealing with an REO or even an auction property, the difference is down here the TYPE of average house to foreclose is more like what I am interested in. What I have found in the Philly area, the properties going under are all row houses in center city. I am looking for a newer build in a specific area and that has been tougher to find relative to this area.

If I lived there already it would be easier of course.

Take a look into Lehigh Valley (Allentown/Bethlehem/Easton area) in Eastern PA...market is headed up, but nowhere near Philly suburb or astronomical NJ prices. Area has a recent influx (last 5 years) of NY/NJ people which according to my relatives has brought along upscale malls, tons of entertainment, and construction galore. 1 hour from Philly, 1.5 hours from NYC,  30 mins from Poconos, but it's a great suburban place...good for families and there's alot of things to do for single people/married couples too. Definitely worth a look, as I have family out there and I'm definitely looking into it. Also, there are a decent amount of foreclosures on homes that are 250,000+, and a great time to buy.

Just my 2 cents

boiler,

You think the wife would allow me to do that? I wish..if I move there we will hit AC for sure though, and maybe I will use the local you have..haha

RUKnights, I used to live in Spring City..its too far out..Allentown is too far away. There was a sweet GC I went up to there once, forget the name but it was pretty good.

What kind of rest do you own/part own boiler?

It isnt if but when on the move..so eventually we will be rolling the bones in AC..me with the 10 buck chips and you with the 100 buck chips..

boiler,

I play tight no doubt about it..try to hit a run and make money, I rarely throw it across on the come out, but I love the game and will enjoy it when we get the chance.

beeasy,

Lived in Spring City before moving to PHX..I am sure you know where I am talking..off the 724 next to a Wawa and Spring Hollow GC. Gambone builders had a development about 3 min from there and we lived out there.

We made a mistake last time in NOT buying near the main line..our area was new build and in the middle of nowhere, literally..and while the mainline prices went up almost 50% from the time we lived there, ours went up 20%, maybe less..

I refuse to live out in that area..even with the Turnpike close by, it is just too far out. Same goes for Exton..too far out and down.

Unlike PHX, the road system in Philly is TERRIBLE..the 422 is what I would take into work, then 422 to the 202 and 202 to Gulph Mills..and down to a broker in that area..on good days it took 45 min, bad days 90 minutes.

I am definately not living in center city, or even inside the mainline (meaning below the mainline) and I wont dip down into the 476 area either..

Where we are looking is probably in the KoP area or Malvern, maybe as far over as Collegeville, Conchohocken..you know where I mean.

I would rather own small in an high demand area than big in Lancaster or Pottstown like we did last time.

You are right though...8 yrs ago when we moved there, pricing was so much better than now..unreal.