Pittsburgh Housing Market Areas for BRRRR

New to Real Estate · Pittsburgh, PA · Member since 2019 · 5 posts · 0 votes

Hey everyone I am looking to get some feedback from Pittsburgh investors and what areas you have seen or heard from that are good BRRRR area. I am currently looking in the canonsburg, bridgeville, and Washington pa area. Would appreciate some info for best areas around Pittsbugh to look at. Looking for my first real estate deal and looking to do BRRRR method.

Thanks!

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Jeremy TaggartBusiness Member

Real Estate Agent · Pittsburgh, PA · Member since 2014 · 850 posts · 646 votes

@Corey Depuy It's kind of just been flat the past few years there price wise. A lot less houses available as with basically everywhere in the Pittsburgh area but hasn't been seeing the crazy appreciation like some neighborhoods have the past few years after it did during the boom. Will be curious to see how it plays out this year there.

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Clayton Hepler
Rental Property Investor · Pittsburgh, PA · Member since 2018 · 150 posts · 50 votes
6y
@Cole Chiappialle, all my company does is purchase BRRRR deals and portfolios and we do 5-6 houses/units per month. With the Coronavirus, we have slowed down, but still looking for opportunities. Understand that this is a very competitive niche, because most people like the BRRRR method. Who wouldn't if you can get all your money out and have a cash flowing asset?!

Even more, during a recession it is not to be relied upon because its' success is predicated on a raising market and looser lending financing. I'd refer you to J Scott's Recession Proof Real Estate Investing as a helpful guide to investing during a different market cycle.

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Cole Chiappialle
OP
New to Real Estate · Pittsburgh, PA · Member since 2019 · 5 posts · 0 votes
6y
Clayton thanks for the information and I definitely will look into that.
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Jeremy TaggartBusiness Member
Real Estate Agent · Pittsburgh, PA · Member since 2014 · 850 posts · 646 votes
6y
@Cole Chiappialle Canonsburg and Bridgeville are solid. Plenty of areas work for it. Usually ARV's between 100-150k are the sweet spot to cash flow on the backend for single fams, are in good areas, and still provide a big enough margin to get that chunk of equity from the rehab. Gets a little tighter once you are under 100 and the areas start to get a little rougher.
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Corey Depuy
New to Real Estate · Pittsburgh, PA · Member since 2020 · 26 posts · 10 votes
6y
@Jeremy Taggart
Are you seeing Canonsburg demand dropping off any? I work in the oil/gas industry and while the recent events are actually beneficial to this region (long story on how -$40 oil is helpful), we've seen a significant decline in E&P activity for this area over the past 12 months. I'm sure there are other industries in play, but I know Canonsburg was a hot spot for oil/gas workers, so I curious to know what trends you're seeing from the real estate side.
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Jeremy TaggartBusiness Member
Real Estate Agent · Pittsburgh, PA · Member since 2014 · 850 posts · 646 votes
6y
@Corey Depuy It's kind of just been flat the past few years there price wise. A lot less houses available as with basically everywhere in the Pittsburgh area but hasn't been seeing the crazy appreciation like some neighborhoods have the past few years after it did during the boom. Will be curious to see how it plays out this year there.
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Gary Swank
Real Estate Agent · Pittsburgh, PA · Member since 2014 · 821 posts · 255 votes
6y
@Cole Chiappialle Hi Cole, Got your message. Thanks for reaching out. We can talk more about the Pittsburgh market...Gary
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Max FeinbergPro Member
Real Estate Agent · Pittsburgh, PA · Member since 2017 · 150 posts · 70 votes
6y
Washington will provide you with the most opportunity but at a lower rent. Bridgeville and Canonsburg would be great if you can make the numbers work...I expect on the backend of this COVID shutdown that may be possible.
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