Mixed Use in Brookline, Pittsburgh?

Question

I recently found a mixed use in Brookline, Pittsburgh. Is this a desirable market, in terms of placing a tenant as well as appreciation?

Chad Kastel · Answer

@Amy Chen.   I don't know the specifics of Brookline, Pittsburgh.  You can do a search on any number of government survey website for population growth, median SFH purchase price, unemployment rate etc.. to determine if it's a market that fits your desires.

I did just purchase a mix use property in upstate, NY and wanted to chime in with some concepts you may or may not be aware of.    I made two mistakes.  One is I didn't know insurance cost more money and can be more complicated with mixed use properties, it ended up costing me about $30 per month, not a huge deal.  If you haven't reached out to insurance companies, consider getting some quotes before you do to make sure you don't end up making a mistake that will hurt your bottom line too much.  Second mistake: BOA and Chase bank both had policies they would not give me a re-finance for a mix-use property (I bought in cash). I ended up having to find a regional bank that was a portfolio lender.  Will cost me ~$50 per month.  Luckily my deal is fat and now my CCROI is about 10% worse.