All Forum Posts by: Max Feinberg

Taz
Welcome to Pittsburgh! I agree with Abdul that it is wise to analyze by neighborhood as opposed to zip code in Western Pa. 15221 is a perfect example as it covers a lot of types of neighborhoods with different pros and cons. You’ve got regent square, historically one of the best places in the city to live, but exorbitant taxes. You’ve got East Hills with higher crime rates and far lower price points. As others have said, Forest Hills/Braddock Hills probably falls somewhere in the middle and may be more of what you are looking for based on your posts. 

Hello Ranya! Please send me details…I may have buyers who are interested.

Hi Karin...where are the properties located exactly?

Hey Weston! Congrats on making the jump into REI. It's a great thing that you are willing to put a little work into a property, as that will open up way more opportunities for you! I'm not sure what's going on in other cities, but I know around Western PA it still very much feels like a seller's market. Properties that are totally turnkey are going fast!

@Jimmy Liu Hey Jimmy! I’d love to chat about your goals and the Pittsburgh market in general. Feel free to reach out at anytime. And thanks Brian for the kind words!

Hey Michael! Glad to hear you are looking at investing back in your hometown! Inventory is definitely rising from where we were a year ago, so there are lots of options for both SFH and small multi. Generally, we see small multi units cash flow a little better than single family units but there are advantages to SFH as well. Feel free to reach out with any questions! Best of luck

Same goes here...what area is this in? Also, you will most likely be paying water/sewer on multi units in Pittsburgh as they are rarely split.

Hi Kayla,

What area of Pittsburgh is this? Without knowing that, it is hard to accurately judge your numbers.

Definitely make sure you are buying places that have gas and electric split. If you are looking at buildings that are currently not split, it may be worth it to look into the cost of splitting the utilities so the tenants can pay. Even though this will cost a few thousand up front, it will pay for itself in short order.

As Jeremy said, water will almost always fall on the owner due to it being lienable. You could charge each tenant a flat rate each month to at least recoup some of the costs, or you could safely assume that it will be between 100-200 each month for water/sewage.

Hello Brian! 

These neighborhoods all have their pros and cons. Generally speaking, I would say that Bon Air and Carrick are going to look the best on paper, but come with the most headaches. That is not to say to totally avoid them, but know that going in.

Beechview, Dormont, and Brookline are all solid areas which may not cash flow like crazy but should yield solid returns while possibly even appreciating over the next 5-10 years. These would be what I would personally classify as B+ type areas.

East Liberty is probably going to look the worst on paper as it has experienced a rather significant appreciation over the last 10 or so years meaning it will be the most expensive market to enter. There continues to be a ton of development in East Liberty, but my personal opinion is that the B+ type areas are a better place to invest right now.

Hope this helps!