All Forum Posts by: Max Feinberg

Is your property management company coming up short? Are you renting it out yourself and they are just doing the management afterwards? If you are paying a property management company (presumably one month’s rent to actually get it rented), this should be a conversation with them about their best practices. If you are unhappy with their work, I recommend discussing with them sooner rather than later as you are spending a lot of money for their services I’m sure.

@Ben Schein

When analyzing properties in Pittsburgh, especially as an OOS, it is very easy to get stuck in a paralysis by analysis situation. Pittsburgh Metro has well over 200 neighborhoods, so to try to focus in on neighborhoods as opposed to properties, price points, and your general buy box is not only futile, but also counterproductive. You will not only limit yourself and miss good deals, but you will drive yourself crazy trying to find the perfect area.

Many people who live here their whole lives here don't even know all of the areas, so my recommendation is to focus more on your investing goals and analyze what is on the market from there. Find the right property and analyze the areas afterwards and learn from there. 

Welcome, Kathy! I’m a real estate agent and investor in Pittsburgh myself. What areas were your house hacks in here in Pittsburgh? 

Hey Kevin! I’ve been a licensed agent in Pittsburgh for nearly 10 years. I’d be happy to discuss the options in the area with you if you’d like. Feel free to shoot me a DM 

Hi Roee! There are plenty of areas in western PA where the BRRR strategy can be effective. As there are over 90 neighborhoods in Pittsburgh (and more in the surrounding area) it's hard to say all of them. The focus should be more on the price point/ARV matchup as there is a sweet spot that the numbers seem to work well. I generally like to look at places that are listed in the 60-100k range and need 50k or less in work. These homes will usually have ARVs in the mid to high 1s and are in areas where the rents will cover the mortgage and cash flow a bit too.

Some areas that fit this criteria include but are not limited to: Penn Hills, Carrick, West Mifflin, Homestead/Munhall, and more. Hope this helps!

@Naseema Subrati Hi Naseema! Pittsburgh is a great market to invest in for most strategies. What types of properties are you looking for? What is your price range? Small multi family is generally the most attractive asset class for out of state investors here as it provides a nice balance of cash flow with reasonable purchase price

@Josh Trup Hey Josh, Pittsburgh is definitely worth doing a deep dive into. For the criteria you have mentioned, there is no shortage of inventory in the Pittsburgh area. Do you have a target return (cap rate/COC, etc) in mind?

@Daniela Beck How are you estimating income for Airbnb to arrive at if a property will be cash flowing 500/mo and a 15% COC? Also are you looking for something that needs work? Your title said value add so just wanted to clarify. Needless to say, it will be difficult to find something in Lawrenceville for less than 200k that doesn't need a nearly full remodel

@Nicole Blankenship Pittsburgh is another market that I would add to this list. With 40k, using traditional investment financing, you will be able to find a SFH in a nice B- to C+ type area that needs minimal work. If you are valuing cash flow, I'd consider small multi as well. Plenty of options for both in western PA

@Joel Peñaloza congrats on the purchase! Where is the property located exactly in the Pittsburgh area? This will be crucial in determining the best PM for you.