Does anyone know what to do in the Reading, PA. Market ?
I have some leads in the city but the value of the houses are
so low I don't see how a profit can be made by anyone trying to wholesale
a property. I can't even get a grasp on the numbers to make an offer.
Please anyone with any advice would be appreciated.
Reading, PA is horrible .. Or has been horrible to me.
I used to have properties there about 5 years ago. Finding quality tenants and dealing with the city made it a bad experience.
I didn't attempt to wholesale properties there though so it may be different for you.
If I were you, I'd look for another city to operate in.
@Oiluj Lopez Thanks man I'm seeing the same thing .
I responded to a lady who posted about a property on the MLS on Franklin Street in Reading, not to long ago. My grandparents lived there (Reading) and my mother grew up there (she is now almost 73 so we are talking a WHOLE different world there when she was coming up). We still visit relatives in Laureldale, etc., and occasionally drive by her childhood rowhome. Emphasis on occasionally because it's quite depressing to see what's become of that area.
That being said, it's like any city where you can find the gems if you sift through. Be very careful and you DEFINITELY need to attend some meetups or REIAs in that area so you can align yourself with the successful investors who are working there - hopefully they'll be as willing to share and educate as the groups I've found down here in the Baltimore area.
That is the ONLY way, in my opinion, that you won't end up in a horrible investment situation. The lady that posted, me and many others advised her to run, not walk, from what she thought was a reasonable first-time rehab job.
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