Newbie from Pittsburgh investing in multi-family short-term

Pittsburgh · Member since 2018 · 16 posts · 9 votes

Hi everyone,

I'm Andrew from Pittsburgh, PA. I'm thrilled to have recenlty moved back here after 9 years away in New Hampshire. I'm excited to continously learn, network and make new friends as I embark on my new real estate investing journey. As of today, my immediate actions to move forward are to propose an offer on a multi-family property, close, furnish and landscape with the goal of short-term rental income.

Looking forward to connecting!

Thank you,

Andrew

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Alex Deacon

Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes

@Andrew Mercer welcome back. Love the area and the real estate market here is very stable and a good place to get started.

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Alex Deacon
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
8y
@Andrew Mercer welcome back. Love the area and the real estate market here is very stable and a good place to get started.
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Jeremy TaggartBusiness Member
Real Estate Agent · Pittsburgh, PA · Member since 2014 · 850 posts · 647 votes
8y
@Andrew Mercer Welcome back! You'll have to let us know how you do with the short term strategy if you end up going that route. Curious as to how much demand/income you'd be able to reel in going that route here.
DHRE- The Jeremy Taggart Team590 Reviews
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Matthew Stanizzi
Hollis, NH · Member since 2018 · 60 posts · 43 votes
8y
welcome back. I’m in the Nashua area. Maybe our paths will cross.
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George Blower
Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
8y
@Andrew Mercer
Welcome to Bigger Pockets.
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Andrew Mercer
OP
Pittsburgh · Member since 2018 · 16 posts · 9 votes
8y
Thank you everyone! To my western PA sensibilities, the market in NH seemed to be prohibitively over-inflated, but I ended up unintentionally flipping my primary home up there for a decent return.
The property I'm offering on is currently zoned as a tri-plex in the city of Pittsburgh. As it is currently configured, it consists of 2 separate houses (1 large and 1 small), but the large house has been split in the past and the small one has additional space that another unit could be added. The thinking behind this is that I'll have some options for the STR side of things, but different paths I could follow if that doesn't work out. Does anyone know if if I would run into any zoning issues if I have 2 separate houses on one property, both of which are converted to duplexes?
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Alex Deacon
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
8y
@Andrew Mercer its highly unlikely that you will be able to add another unit so before you start anything research with the local code enforcement office to check if there are occupancy permits for the existing 3 units and if a fourth can be added. Most of the time its difficult but you have to do your research.
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Andrew Mercer
OP
Pittsburgh · Member since 2018 · 16 posts · 9 votes
8y
@Alex Deacon, I got my answer yesterday, and not what I was hoping for, but nevertheless, we're in negotiations on a closing price.
Your meetup was great by the way!
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Alex Deacon
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
8y
@Andrew Mercer thank you and hope to see you at the next one.
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