All Forum Posts by: Gary Swank

While 100-130k can certainly get you into some neighborhoods here in Pittsburgh, you might find that some of them are located in less desirable areas. Whereas if you raised your price point, albeit slightly, you might fair better. However my first question would be is 130K all-in? 

Your backyard might be more difficult to invest in especially STR. The price point in DC is obviously higher than other outside areas. But I wouldn't discount certain beach town price points either. For example, in Rehoboth Beach, real estate is very pricey. With that said, in general, try looking at other less saturated markets, talk to the locals, zero in on specific properties, calculate costs especially the added-on ones if deciding to OOS invest and run your numbers again and again till you find a lucrative opportunity. Best of luck to you....Gary

Hi Hector,  I've seen many out of state investors, especially those living in California, have chosen Pittsburgh PA with strong success. The buy-in is more conducive than other more saturated markets and can generate positive cash flow providing you know the area. Properties and neighborhoods change dramatically. If you're not familiar with Pittsburgh, I always suggest reaching out to someone who does. I've lived here my whole life and know the area and market very well and I'm in and out of properties every single day. Also a good indicator is growth. If you see a lot of construction going on that's a good sign of progress to get in on before it explodes. But let me caution on that,  that may be good for the city itself but it can often be subjective when it comes to residential growth. Do your homework and talk to people in the area. Whatever you choose, I wish you the best.

Hi Dan, Many out of state investors choose Pittsburgh PA with strong success. The buy-in is more conducive than other more saturated markets and can generate positive cash flow providing you know the area. Properties and neighborhoods change dramatically. If you're not familiar with Pittsburgh, I always suggest reaching out to someone who does. I've lived here my whole life and know the area and market very well and I'm in and out of properties every single day. I also have a property manager that clients really like. Whatever you choose to do, I wish you the best...Gary

Hi Andre, personally I would always recommend a local property management that can physically be there at your property rather than virtually.  As people have stated already,  cameras don't pick up smells and sometimes they don't always pick up all areas where you really need to see the property. You also need someone who can show the property in person or address issues quickly. I know a great property management company clients rave about here in Pittsburgh. 

Hi Sela,  those areas you discussed have the potential to be good rental areas. There are others that may also provide good appreciation. Pittsburgh is a good market for investors but you've really go to do your research, create a helpful team and crunch the numbers. It also helps to know the diverse neighborhoods as they change very quickly. I always suggest to get with someone who's very familiar.  I've lived here my whole life, am in properties every single day and really know the market very well here. Feel free to reach out to me. Thanks and best of luck to you. Gary

Hi Alec, everyone has different experiences in Pittsburgh.  It's true though that you really have to know the area well as neighborhoods and the properties within them change quickly and often street to street. If not familiar i always suggest spending time with someone who is. I've lived here my whole life and am in and out of properties every single day. Also true that not all PMs are created equal.  Fortunately I know a really good one. 

So, when my clients lose a bid, I always say "It wasn't your home or investment property". At first that sounds negative, right? So what the heck do I mean by that? Well, It's certainly not meant to be negative. In fact, quite the opposite. I want to encourage buyers, letting them know that while THIS property wasn't theirs, THEIR property is right around the corner. While you may lose out on a property that you felt was the one, actually a better one is right around the corner. So don't give up hope. Keep the faith when buying real estate. 

Recently I had clients that lost out on 3 bids and they were extremely nervous as their lease was running out. Then a miracle happened. They won on the 4th try and absolutely love the house. However, it wasn't just by luck. After attending a tailored class, I became a CNE (Certified Negotiation Expert). I learned unique approaches to putting in offers that stand out. And this time it worked. They got it!! Sometimes we just have to learn things as we go, tweak things a bit, and become more competitive and creative. And that's just what I can do for you.

So are you tired of losing? Let me help you Win Your Bid here in Pittsburgh, PA. Let's Go Find and Win Your Home or Investment Property !

garyswank.net

And my comment about traditionally buyers not paying realtor's commission, sellers do applies here in Pennsylvania. Check your particular state for their rules. 

Also when factoring things in remember "traditionally" buyers don't pay the realtor's commission. Sellers do. So that can help you.