Looking For: Pittsburgh House Hacking Opportunities

[Tyler Fitzpatrick]

Curious to know about emerging markets in the Pittsburgh area. Im a flexible new investor/First-time home buyer looking to purchase a Duplex or Triplex using FHA within the next 6 months. Can someone who has an eye on this market give me some insight? (this is my first time so if anyone has any general feedback I am more than open to it as well.)

Buy Box:

-Around 200k or less

-Duplex or more
-Ideally turnkey OR under ARV

-near public service, attractions, schools, hospitals, or university

My Next Steps

-financing preapproval

-selecting ideal areas

-selecting agent

-ect 

[Jeremy Taggart]

@Tyler Fitzpatrick I've done 6 house hacks here in Pittsburgh myself so I can definitely attest to the strategy working here. Might do a 7th this year. 200k is a bit tight of a budget if you are looking to get into 2+ units in a B class or better area in the city on something that's turnkey or close to it. Most of the B class areas in and around downtown are running low 200's at this point. You are starting to creep into C/C+ once you dip down below 200k for turnkey on a duplex. Cavet here being if maybe one or both units are 1BR units or a studio. The price per unit goes down a bit as you get into 3/4 units which I tend to be a fan of if you are house hacking especially with the FHA loan. Not as many of those but they make it more doable to live for free if that's the goal. 200k budget will get you a lot more as you get further away from downtown. Most of the properties that will still at least break even on the cash flow side with an FHA loan are going to run about 50-120k/unit give or take depending on area/quality of property. My last 2 I have bought were 4 plexes in A/B areas close to downtown and I've been able to live for free. Hopefully that helps!