Hello BP Community!
My name is Marcella Sheerin and I currently live in Cincinnati, OH but am looking to invest in the Pittsburgh, Pennsylvania area (where I am originally from). I am looking to purchase my first duplex by mid 2016. My goal is to buy a value add property in a B class location. I have a network in Pittsburgh already and plan to use my sister as my property manager. I am currently researching the best locations to get started and any advice on locations and realtors that have experience in the area is greatly appreciated!
Can't wait to get started!
Welcome to BP!
I am not familiar with the Pittsburgh market at all, but you already have a plan of what you are looking for, so hopefully the local Pittsburgh real estate professionals on BP can provide you with the market information you are looking for.
Welcome @Marcella Sheerin
We have the best income producing market in America. Let me know if there is anything that I can do to help. Remember cash flow rules in Pittsburgh we dont invest for appreciation. Keep that in mind and you will do really well
To your success
Welcome to BP! I'm originally from Pittsburgh as well. It seems the whole city is under renovation and is a great time to invest.
Awesome plan. Let me know if I can be of assistance in any way.
Out of curiosity, are you looking to invest in PA more so because you used to live there, or because it's a better place to invest? Or both reasons equally? I've never lived in PA, but have read that it's a great place to invest. I live in Cincinnati as well, but I wouldn't mind investing out of state if the right opportunity presented itself.
On that note, a question for @Josh Caldwell : can you elaborate on "we don't invest for appreciation"? Is appreciation negligible in the PA market or something?
So many new faces! Welcome to BP!
@Tavari Keel good question. The reason that we dont invest for appreciation in Pittsburgh is that we are in a really slowly appreciating market. WE generally go up 1-3% per year. Nothing to hang your hat on. Appreciation might happen, it might not. What we are fantastic for is cash flow. Our median house is in the 126k range, and we can pick up rentals in the 25k range.
@Josh Caldwell Thank you so much for the information! Do you have recommendations on what areas are better to focus on?
@Tavari Keel I am interested in the Pittsburgh market for two main reasons; I continue to see reports with Pittsburgh as a top ranked city for long-term real estate investment and I have a support system there already with people that can help with managing the properties.
Thank you all for the support!
@Josh Caldwell how is the pittsburgh multi-unit market (>/= 8 units)?
I am also originally from the Pittsburgh area, and wish you luck getting started.
Welcome to BP and best wishes on your plans to get started in Pittsburgh! If I can help with any questions or connections (I know a great realtor for your situation) please let me know.
HI Marcella, I'll be happy to help you find properties in Pittsburgh in which you might want to invest. Since I have lived in all four quadrants of Pittsburgh, I am very familiar with areas that may be appealing to you. I have and am currently working with investors who either live remotely or locally. Would love to talk further. Feel free to reach out to me.
Welcome to BP! This site is full of great people and an abundance of information to help you meet your real estate goals. I'm a Realtor and serve the areas between Pittsburgh and Butler. If you'd like any assistance purchasing or selling a property, let me know! Educate yourself, take massive action, and enjoy the ride.
@Marcella Sheerin I am thinking about investing in the area. How has your journey been in Pittsburgh?
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