New to Pittsburgh looking for help in finding my 1st multi-family
Hi, I moved to Pittsburgh close to a year ago. I live here in Shadyside and work remotely as a management consultant. I have been trying to find a good multi-family to invest in and house-hack to maybe live in one unit, especially if it cash flows well. I have been finding it difficult in this market so wondering if anyone has any tips! I'd also like to network with people here and go to any meet ups or otherwise so I can get to know more local people.
@Anthony Mikati I've found the sweet spot for house hacks tends to be the properties that aren't super cheap where you are competing with straight investors but not super expensive to the point where you are competing with owner occupants buying house hacks to live in the nicest areas for slightly cheaper than rent or people that have boatloads of money paying cash for the top areas just for a place to park their money, with both not being quite as concerned with the cash flow side of it so that drives up prices in the top areas.
Since you are leveraging so much with the house hack low down payment loan it doesn't necessarily have to be the "best" deal for it to make sense numbers wise. Just the appeal of being able to leverage it so much turns what would be a marginal deal if bought with a normal loan into a good deal solely because of the financing. Even if something is break even on the cash flow side if the price is high enough the loan paydown/appreciation/depreciation alone turn it into quite a nice ROI compared to all the more you put down to acquire the place.
@Matt Dingus runs a good meet up group once a month here in Pittsburgh that's pretty solid.
