New Multifamily Investor Pittsburgh PA

[Michael J Lubitz]

My name is Michael Lubitz I recently moved to the Pittsburgh area in July and I am looking to start investing in multi-family properties for rental. I am looking to find a three or four unit property to use as a rental property.  My plan is to start slowly with a house hack. I am hoping  to take the time to learn more about the process, as this is my first real estate investment. My long-term goal is to have 20 units in the next three years with most of the deals occurring in years two and three.

I am looking to network with people in the Pittsburgh area to learn more about the area and real estate. If you have any advice for a new investor I am excited to learn.

Regards,

Michael Lubitz

[Jeremy Taggart]

@Michael J Lubitz Best way to get started! I started by house hacking a triplex and have been doing about a house hack a year ever since, slowly building my portfolio. Similar goals as you. I'd spend some time analyzing deals in the local market and getting familiar with the prices/rents of the areas you might be interested in living in. It's definitely still doable to find a place where you can live for free/make money every month. It's getting harder to find 3-4 units but I would hold out to find one since you'll want to take the most advantage of the low down payment loan. I'm a fan of value add properties that need some rehab work or have rents that are below market. Spend the time living there updating the units and getting those rents to market rent. Starting out when you are low on cash you can DIY some stuff to save money and learn what goes into rehabbing places. Typically easier to find something where the numbers make sense on these kinds of properties too compared to a newly rehabbed one.