Neighborhoods in Pittsburgh

[Liron Burrack]

Hey Everyone,

I am an out-of-state investor who is looking to invest in Pittsburgh.

I looked at a lot of neighborhoods in the Pittsburgh triangle area and outside, but It is hard for me to decide which neighborhoods to focus on.

What I am looking for:

1. a mix of appreciation and cash flow

2. SFH or multi-unit (up to 4 units) properties.

3. I'm open to different types of income/population (low income, students, etc)

4. I'm looking to buy and hold for ~10 years.

I trying to decide on 2 Neighborhoods to focus on.

One of the neighborhoods I'm curious about is Larimer because of its closeness to Bakery Square and also seems like there are plans to improve the neighborhood.

I have a few questions about this neighborhood, that can help me decide:

1. What are the better and worse streets in the neighborhood?

2. Would anyone that is not under section 8 agree to rent there at the moment?

3. Any recommendation for a property management company that is working in that area? To help me get a better understanding of the rent situation there

Also, curious to hear opinions about Garfield, and the Hill District.

Thanks to anyone who can help

[David Coleman]

@Liron Burrack,

I think you need to identify a consumer for your product before you start trying to isolate neighborhoods.  What are you selling and who are you selling it to?  Families?  Single people?

If you're looking for appreciation, Lincoln-Larimer, Garfield, and The Hill aren't my top picks.  They're solid cash-flowing neighborhoods, but not the "best"for appreciation.

You're looking for appreciation and cash flow, SFH to 4-units, different incomes and socio-economic backgrounds. Too broad, IMHO. As Jim K. told me before, you need to drill down and really identify what you want to pursue first. REALLY identify your criteria. With this being said, as I mentioned above, you need to drill down on a specific product and a specific consumer. What are you selling and who are you selling it to?

To your further questions

1. What are the better and worse streets in the neighborhood?  Proximity to Bakery Square would be better for Lincoln-Larimer.

2. Would anyone that is not under section 8 agree to rent there at the moment?  If you're looking for families, some.  I'm sure single younger people would.  

3. Any recommendation for a property management company that is working in that area?  There have been a few recommended in the past.  A few queries should bring em' up.  

Good luck going forward!

Dave