All Forum Posts by: Eddie Werner

Congrats on seeking out your first rental!  Your price range is solid, you can find a lot of homes around Pittsburgh and surrounding areas for that price.  I would pick out a few areas and drive through them to determine which areas you like.  Run rental rates for the neighborhoods and drive by houses for rent to get a feel for the street and general area. Since it's your first investment I would stick to a 3 bedroom house or a duplex with at lease 2 bedroom, 1 bathroom per side with split utilities (water, sewage, gas and electric).  We manage for a lot of owners who buy in McKees Rocks as one example.  You can buy near turn key for 40-50k and a 3 bedroom there rents for $900 or more all day.  

Congrats!  Starting with a duplex was a smart move.  Even at 50% occupancy you still have money coming in.  Fully rented multi units in Pittsburgh are cash cows if purchased correctly.  Whenever someone wants to start investing I always recommend a duplex as the risk is so much lower than starting with a single family home.

Interested in Penn Hills 

5k for both is a good ballpark.

My first rental was in McKeesport and I still own and invest there.  Just make sure you buy in the right pockets.  My recommendation would be to stick with Fawcett Plan, Park Plan and Christy Park.

Biggest two things would be understanding Pittsburgh has a lot of older housing stock so it's important to be familiar what these older houses can mean from a maintenance standpoint.  That and having boots on the ground to advise on the areas that meet your criteria.

Best two for cash outs I use are InFirst Bank and Somerset Trust Company.

I think any strong due diligence with a service company entails speaking with their current clients, multiple clients that have owned multiple properties for a number of years from the provider.

I use Imperial Tax & Accounting in Imperial, PA.  It's near the airport just outside Pittsburgh.