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Updated almost 7 years ago,
Getting started in Pittsburgh
Hi everyone,
New to the forums, but have been stalking over the past few years and learning about real estate. I was ready to take the plunge a couple of years ago, but ultimately decided to head back to grad school, which delayed my real estate ambitions.
I currently live in Los Angeles, but am a PA guy at heart with close ties to both Philly and Pittsburgh and visit frequently. Over the past few months, I have been putting together a competent team of family and friends in Pittsburgh to get started and we are ready!. I have been researching the market, but was hoping someone might want to chat and validate some of my thoughts. Particularly, on the intricate details of certain areas (neighborhoods and streets)
In short, my strategy is to focus on 3-4 submarkets in Pittsburgh / W. Pittsburgh for a B-R-R-R. Ideally, I want the first project to be on the smaller side (50-80k initial, 20-35k rehab, arv $120K+, rents 1%+ of ARV), as we gain some experience and comfort as a team. I will be in the Pittsburgh area next week.
Any help would be appreciated! Feel free to point me to some threads or resources that are already available!