I am looking into purchasing my first property in pittsburgh and rent it out as long term investment.
I have following hopes/strategies:
- Safe area (B/B+)
- Reasonable cash flow
- Good appreciation potential
I am thinking following locations (which can totally be non sense)
- Attract high income workers (close to IT hubs? Are their IT hubs?)
- Attract students as stable tenant base (Close to universities?)
I understand I may not get all of the goals, any suggestions on areas/types/conditions of properties?
I am out of state, so I will also need local agent and PM teams who knows how to work with out of state investors.
Do you have any suggestions on agents and pm teams?
I would be glad to help you. Here in the greater Harrisburg area (state capital of PA) you have several local colleges (Penn State, Dickinson, York College, CennPenn, Elizabethtown & Messiah) feel free to contact me directly for any help or direction. I am a licensed Realtor, investor & contractor.
@Alex Deacon can help. If you are looking for off market properties, I can help with that and PM.
Thanks @Jason Stutenroth , I would like to focus on Pittsburgh at this moment. Will definitely contact you after I studied Harrisburg.
@Mike Pastor , yes, off market properties are part of my plan, especially if they are in good location which can be turned around.
Would appreciate if anyone have comments on the strategies.
@Richard Lee You may be interested in looking into Carnegie Mellon and what it is doing in the local community as well as renting to large base of grad students and/or high income workers.
Thanks @Rob Beardsley , looking into those areas now
@Richard Lee some good areas in Pittsburgh for this.
As Rob said you could look around the Carnegie Mellon area, Strip District, by the Almono Development, etc.