All Forum Posts by: Gary Swank

Hi Mary, welcome to Pittsburgh.  I've lived here my whole life and love it. I've seen a lot of positive changes and growth. Sounds like you have a good plan. I might suggest to get together with a local professional.  Especially if you want more information either about a neighborhood,  a particular property especially if important information like rent rolls aren't found or just anything about investing in pittsburgh real estate. As I'm sure you know, you need a lot of information in order to make a sound and potentially profitable decision. And having an advocate on your side can be beneficial.  I wish you the best. Feel free to reach out further. I'm in and out of properties every single day. 

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Many Investors have been priced out of their market. If you're finding that to be the case as well, you may want to look into other markets with better outcomes. Here in Pittsburgh, out of state Investors are finding the buy-in more conducive. But it's a tricky market as not all properties are created equal and our neighborhoods vary.  Add to that the factors in purchasing such as loan amount, rent rolls, various property costs etc. Talk to a local expert if you're interested. 

I would be real curious to see what neighborhood that triplex is in. As far as the mortgage goes, only a lender can answer that. I do agree that it's best to go with an industry professional when viewing the property. They can point out things to help you make the best decision for yourself.  I've lived here my whole life and am in and out of properties every single day.  Feel free to reach out.   

Hi Ivan, you certainly have the correct analysis about wanting to invest in a market where the buy-in is more conducive. Many people find Pittsburgh to be that solid market for REI. It's true though that you must really know or learn the different areas of our city to understand what it's earning potential is. That's dependent on a lot of factors including what price point you are looking at, what kinds of tenants are you looking to attract, how much time do you personally have to invest in a project and so many more factors. Especially if this is your first out of state investment, I often suggest to visit the area, get together with someone who knows the market and really see first hand if it's a viable option. Understanding your needs, your resources and goals are crucial in helping you make the right decision for you. Not to mention that locals often have connections to other industry professionals you may need such as property managers, local lenders etc. I have lived in Pittsburgh my whole life and am in and out of properties every single day. Whatever you choose, make it a money making positive experience. You're always welcome to reach out....Gary

Most likely yes in Pittsburgh, however I have additional questions that are not covered here.

Pittsburgh is a strong contender for what you are looking for as long as you choose the neighborhoods wisely. 

Hi Ian,  I'm not sure why this forum doubled my initial comment,  but in answer to your question,  I think not.  

Hi Ian, I have a few additional questions that may help me understand better. Are you looking to renovate to resell? Renovate to hold and rent out? Looking to see what renovations to potentially justify strong rents? Over what term? Kitchen, bath, paint and flooring are always good basic renovations to make to any property. But that's also a generalization. If you're looking to rent the property, consider inviting a good property manager in that could give you a better idea of what will attract tenants to that neighborhood.  

Hi Ian, I have a few additional questions that may help me understand better. Are you looking to renovate to resell? Renovate to hold and rent out? Looking to see what renovations to potentially justify strong rents? Over what term? Kitchen, bath, paint and flooring are always good basic renovations to make to any property. But that's also a generalization. If you're looking to rent the property, consider inviting a good property manager in that could give you a better idea of what will attract tenants to that neighborhood.