Developer · Santa Clara, CA · Member since 2020 · 7 posts · 2 votes
Hello BP experts.
I am new to REI and looking to invest in FL area or Pittsburgh.I would be an remote investor and would like low overhead (no fixer-upper) property to begin with. I am interested in long term rentals with positive cash-flow and a yearly rental ROI of 8-10% with value appreciation of about 3% or more if possible. I see that Ft Myers, Cape Coral, Naples are the trending area according to some posts here. In Pittsburgh, I am familiar with Alleghney County area but those areas have seen prices shoot up recently. I intend to start with an initial out of pocket investment of 30K - 40K. Any advice, pointers will be really appreciated.
Pittsburgh · Member since 2020 · 42 posts · 10 votes
5y
@Navi Kukreti
A 8-10% return is totally doable in Pittsburgh but you will need more cash then that unfortunately. You will probably benefit from getting a hard money lender.
Real Estate Agent · Pittsburgh, PA · Member since 2020 · 111 posts · 51 votes
5y
Properties like that definitely exist in the Pittsburgh market. I've even seen cap-ex rates as high as 16% recently with the way that the market is right now. You're not going to find something directly in the business district downtown in that range, but the nice thing about the city is that it is comprised of over 90 individual neighborhoods. I would suggest expanding your search to about 15 miles from the city. I'm going to send you a message in regards to this.