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Updated over 4 years ago on . Most recent reply

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Ana Ceron
  • Pittsburgh, PA
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Investing in Surrounding PGH Areas

Ana Ceron
  • Pittsburgh, PA
Posted

Hi there. First-time poster here, very new member of BP.

I'm a renter who is not looking to buy my own place -- unless I can house hack w/in a couple miles of downtown.

Because I believe the chances of finding my ideal house hack to be pretty slim, I'm thinking about buying a SFH or MFH somewhere within a one-hour driving distance from Pittsburgh. My goal is to purchase a property in 2021, but learn the most I that can about the local market in the meantime.

My plan so far is to get a mortgage to purchase a property for $70K-$90K that needs minimal work ("minimal" as in a coat of paint, maybe a new mailbox, etc.), or already has a tenant/tenants in place.

From what I've been seeing online, seems like my best bet would be in the areas/counties surrounding Pittsburgh.

I've heard Erie is a good option. Jeannette is street by street. Someone on a forum here warned against New Kensington. Another poster recommended Latrobe, and another said Charleroi had been working out OK.

I moved to Pittsburgh three years ago, so I'm still learning my way around. What areas would be good for my price range that would also offer a reliable tenant base?

Or is what I'm looking for unreasonable? What can I expect out of my price point?

Thanks for any advice.   ana.

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Jeremy Taggart
  • Real Estate Agent
  • Pittsburgh, PA
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Jeremy Taggart
  • Real Estate Agent
  • Pittsburgh, PA
Replied

@Ana Ceron You can get a duplex in a C class area in a surrounding county outside of Allegheny for that price range that'll bring in $1200-$1400 in rent that's probably what I would focus on to start with. That price range closer to the city you are getting into the rougher neighborhoods. Single families are okay but they won't cash flow as well as a duplex will if you are buying something turnkey. I'm more of a fan of single families if you are BRRRRing or buying a fixer upper that will get you a good chunk of equity. Duplex for the turnkey stuff. Don't count yourself out for a house hack though there's still opportunities out there just need to be a little more patient nowadays. They aren't sitting ducks like they used to be a few years ago. 

  • Jeremy Taggart
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