Any Reading, PA investors?

Question

Hey ,

Newish to the site. Been looking at places to long distance invest in since i live in nyc. I have family here and they tell me how cheap the real estate is. I know its low income doesn't seem like the greatest city in the world. But rent seems ok.Are there any investors here? I plan on doing buy and hold. Should I just run and look elsewhere?

Jose Vazquez · Answer

Reading is a great cash flowing market. Get a great property manager and you should be fine. 👍🏻

Anthony Hom · Answer

hey did you wind up investing in reading? I'm also from nye looking at turn keys properties, but like you said the low job growth make it too risky

Joseph Cacciapaglia · Answer

I just saw it as way too risky for a long term investment. They had a little population boom in the early 2000's, but they've been flat for the last decade. I like markets with strong population and job growth and a diverse economy, which led me to San Antonio, TX a couple years ago. I plan to stay here for the long run, unless there is some huge negative change.

Violeta Archer · Answer

@Michael Frasier - so did you jump in and invest in Reading? If so, how's it going? It's so tempting and its history is attractive.

Violeta Archer · Answer

@Joseph Cacciapaglia - so why did you get out of the Reading market?

Joseph Cacciapaglia · Answer

It's been several years since I worked on deals in Reading, so things may have changed. At the time, there were tons of vacant units, so it was really tough to make rentals work. At the time, you could buy units for $60K that would rent for close the $1,000. The rent to price ratio was great, when you actually had a tenant, but filling a unit was pretty tough due to all the competition. I'd get some info on market occupancy today before going forward. Maybe it's gotten better.

Eleazar Becerra · Answer

Go for it scratch all the technocrat language take chance

Michael Frasier · Answer

@Jose Vazquez Not sure if quoting tags you

Michael Frasier · Answer

That's awesome to hear. would you mind if i pm'd you some followup?

Any Reading, PA investors?

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