Pittsburgh small multi-families (duplex, triplex, etc)

6 Replies

Investors in Pittsburgh- where would you say are the best places to find deals on duplexes, tri's, and quad's? This is what I am most interested in. I have Zillow alerts and things like that set up, but where else are good deals found? Do you still use craigs list? Is there anywhere else I am missing where sellers are talking?

I haven't been to any meetups yet since I have moved here, if someone has a good recommendation, I am all ears! Thanks!

Hi @Jen Kurtz meetups are a great place to talk. 

Wholesalers are good, but mostly get single family homes. Depends where you are looking though. 

Really anywhere that might have a deal is good. Getting with an agent for MLS alerts is a better idea than zillow because then you see them faster. Also, working with a buyer's agent can be helpful because as long as your agent is worth their salt they will help you know when the listing side is selling you snake oil. The main sites have a bit of a delay. The better deals usually go faster, but I think the worst thing that you can do is just assume that list price is the only price. If something has been sitting for a while and you can make terms desirable for the seller MLS deals can still be attractive.

Then on the other off market side it's wherever you can find something. I got one property from a laborer of one of my contractors whose mother was selling her home. It's pretty much just spreading the net wide and telling people what you do. 

Also, asking where the best place to find deals is can be a bit misleading. It depends entirely on what you are looking for. Are you looking for OK cash flow, but with few headaches in nicer areas. Or are you looking to maximize cash flow with a value add property where you might have to deal with a property that has some significant deferred maintenance or tenant issues in a lower grade area. 

Depending on what your preference is there will tell you where you should go to find the best deals for you. There's a lot of ways to make money and everyone has a slightly different preference for what they want.  

Consider driving through neighborhoods you like and finding multifamily properties with deferred maintenance. Write the owner a letter. Worst thing they can do is say no.  I found my best deal by just writing a nice letter to the owner of a vacant house down the street.  Also check craigslist/zillow for rentals in multifamilies.  Owners that are have a high vacancy are motivated to sell

Originally posted by @Dan Mason :

Consider driving through neighborhoods you like and finding multifamily properties with deferred maintenance. Write the owner a letter. Worst thing they can do is say no.  I found my best deal by just writing a nice letter to the owner of a vacant house down the street.  Also check craigslist/zillow for rentals in multifamilies.  Owners that are have a high vacancy are motivated to sell

 How did you go about finding the owner's information? A lot of the time the owners do not live at the residence.

I went on the allegheny county land portal to see who is paying the taxes on the property.  I sent them a letter to that residence listed as well as the property I wanted to buy in case they had a forwarding address.  When calling about a rental, even if it is a property management company running the place, they'll usually give you the owners info or at least let them know someone is interested in buying. 

@Jen Kurtz Hi Jen, I agree with @Anthony Angotti that getting a reliable and knowledgeable agent is so worth it. They can get you set up on an MLS search of which, as Tony said, is more accurate an more instantaneous than Zillow alerts. But not all Realtors are created equal. You want someone that has many years of experience working with Investors on several different types of transactions. And certainly one who is proactive in finding just the right property for your needs. Thanks, Gary

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