Feedback about Reading, Pennsylvania?

[Rey Perez]

Greetings, Biggerpocketers! 

I came across a good 8 unit investment opportunity in the area and would like to receive some feedback about the area itself, I have invested in Allentown area previously.

Any advice would be appreciated. 

[Jose Vazquez]

I invest in Reading, PA. It depends where the 8 unit is located, tbh. Crime rate IS high, however, if you vet your tenants properly you shouldn't have too many problems. Right now, according to a PM we work closely with, we're looking at a 14 day vacancy period (average) when one of our tenants decides to move. Rents are going up and the city is doing well when compared to 5-10 years ago. The largest employers are East Penn Manufacturing and the Reading Hospital. There are plenty of other warehouses in the area and PLENTY of other job opportunities. I'd say the city is C+ at best. On a side note, Reading PA should be developing a casino in the near future and the legalization of medical marijuana will be in full effect by July 2018 (according to my physician). Its rumored recreational use will not be far behind. Which, in my opinion, will attract investors from around the entire country. Topped with the new tax law, Reading PA, MIGHT be categorized as an "opportunity zone" which means NO CAPITAL GAINS TAXES for any investors looking to develop in the city. This, of course is speculative. If you guys need a good PM I'd be happy to refer someone :)