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Investment Properties in Monroe County : Real Estate Advice

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  • Home Buying7
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Activity 7
Sat Aug 12, 2017
Kathy Burgreen answered:
Considering Agent Steve is from MA, he doesn't know anything about the beautiful Pocono region. The issue with the Poconos and Catskills in NY is it was a great weekend getaway for New York City residents from the mid 1940's (end of World War II) to the 1980's. Then with technology, home prices increasing & inflation, people didn't have the time or money to spend weekends in the Poconos or Catskills. Both regions suffered and went into disrepair.

Today I've been reading that the Catskills region is having a rebirth and millenials are discovering it and spending money opening new restaurants, fixing up the original homes that were neglected for 30 years and trying to bring back New York City residents to spend a weekend in the country.

I don't know if the same thing is happening south in the Poconos but if the Catskills are getting discovered by millenials, it's possible the Poconos will see a rebirth there too. If you intend to invest, I strongly advise you do your research and see if there is new business developing and millenials from NYC spending weekends there. You need to think how will you get tenants and whether rents are high enough for you to make a profit.
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Thu Mar 16, 2017
answered:
Hi Bsclife,

Is this going to be your primary residence? I only ask because you posted your question in the Investment Properties in 18372 section.

If this is going to be an investment property, USDA will not be an option but if it is going to be your primary residence there are a couple of possible options.

It looks like your income is under the maximum limit for the USDA direct loan which may provide the actual construction loan!

Contact the local RD office in Allentown, PA at (484)795-7619.

Good luck.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
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Fri Oct 16, 2015
Karen Peyton answered:
No one can speculate on your ability to qualify for a new mortgage. For that information, you must speak with a lender and answer their questions pertaining to your income and current obligations.

Best of luck!
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Wed Jan 21, 2015
Michelle Tooker asked:
Hi, we're thinking of purchasing a Poconos house (Arrowhead Lake is our favorite contender) to rent out during all four seasons and use ourselves a few weekends a year. I'm hoping someone…
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Tue Apr 22, 2014
Harold Lear answered:
If you locate a property that fits your needs I have a 100% stated income, no Income verification, no credit verification loan. The payment is equal to a 4.5% rate.
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Tue Jan 14, 2014
Peter H answered:
Hi I just purchased in the Arrowhead lakes community in the Pocono lakes area. I liked it in particular since it has 2 big lakes and 4 heated pools and a brand new beautiful lodge. The location seems great also as it's only a few miles to Pocono Raceway so this should help renting in the summer months. I looked at a few developments and liked this one the best and the value was great also. If you have any other questions let me know. I have a good realtor as well. ... more
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Wed Jun 5, 2013
Sharon Harris answered:
Not sure of the meaning of your question. But I can work along side an investor. I also can help find property for you to look into. And help you find the operating costs and return. happy to help! ... more
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