All Forum Posts by: Account Closed

Pittsburgh is a market that is often overlooked, but with the close proximity to philly, nyc, and DC, it is a surefire investment opportunity. While the price to buy and taxes are much lower and the cost of living also being low in comparison to the larger metros around the tri-state area. While you can surely have great returns in the philly sector of the state, the western side, which is currently going under major revitalization projects, you may find some luck here. I have worked with investors all over the state, including Philly. I would also agree with the statements of northern liberties, fisthown, tioga park, and Darby TWP being great areas for investments. In comparison to Pittsburgh, almost anywhere in the city, you can find a multi-unit for a great bargain. If you have any questions or would like to speak further with an investor-friendly agent, please reach out!

Where are your units located? I currently live in Mars!

I am an agent in Butler County with strong connections in Armstrong, and Indiana Counties. Count me in for any Northern/Eastern Counties!

Hello @Aman Gulati!

I think that Mckeesport and the eastern side of the city are to be soon on the rise. The fulfillment center in North Versailles (10 Minute drive) that was built by Amazon has officially started hiring as of two days ago. This employer is set to bring 500 jobs to the area with its last-mile delivery facility. While McKeesport and the majority of the Mon Valley have had a reputation in the past as a place that some would steer clear of, but I think that now that employment is returning to the area, restaurants and other commercial retailers will pop up and attract more people to the area, which would then be great for property values in the area. My brokerage manages several properties in the area. I may be a biased individual when speaking on behalf of this section of the city, because of my familial roots, but definitely worth a closer look in my book!

To avoid this exact situation, we include in our lease terms that pest and rodent is tenant responsibility. If you rent to a tenant and there were no mice in the unit, the tenant has done something to attract said vermin. However, here in Pittsburgh, we are a pre-existing city. We deliver our properties rodent and pest free, so if there were holes to be sealed up, that had already been taken care of before placing a tenant. 

In the seller's market that we are in, it can be tough to find the right deal. Each investor has their own strategy and end result that they are looking for. The 70% rule is merely a suggestion on where you will yield the profits that fit this model. However, with market trends such as the ones we are in currently, working with an agent who has great connections and can help you find off-market properties is a key aspect that some investors lack. I can assure you that deals do not come from an automated MLS listing email unless you are looking for retail prices.

I second the above comment. A real estate attorney will be able to draft the agreement of sale for you. 

Chad Kosko with Kosko painting and remodeling is phenomenal! 

(412) 461-3735

@Luke Andersen Have you considered Pennsylvania, more specifically Pittsburgh? We're an older city with older homes and such, but our purchase prices and market rents are very attractive to outside investors. I've seen places regularly receiving 10-15% COC returns. A lot of great things are happening around the city proper in order to bring in more tech startups and new jobs. You turn any street in this city and you're sure to find some phase of construction. If you want to talk more about the 412, i'd be glad to do so!

@Jim K. let's give credit where credit is due. By no means is this the answer to the rise of Hazelwood and Greenfield, but it's a damn good start. If you build, they will come. A big risk, and a big piece to the puzzle of the long-term goal of making this city a technology hub. Housing a community of minds in a place starving for love is a recipe for a win in my opinion. Sure the big fancy heinz endowments are making the first move and perhaps could've done better, but I for one am all for this park. If you think about what tourism brings, and adding another picturesque side of the city is going to take time. They are still doing work on the grandview overlook and look what that has done for those communities. I completely agree with what you said about Hazelwood being underserved. The city has yet again boxed a certain population group of people into a community where they simply don't care. It's truly a shame, but in this dark world, I hold onto hope and wish to break the cycle.