All Forum Posts by: Paolo Agostinelli

@Jazmine Bryant @Russell Brazil Absolutely agree with Russell. Find similarly styles of homes that recently sold in the immediate area with the same number of beds, baths, and sq footage.

@Didier Prince No matter if you use Listsource, Melissa Data, or any other list provider, don't feel like you have to limit yourself to the filters and criteria on their website. Give them a call and talk to them about specifically what you're looking for. They are all very friendly to work with. You'd be surprised as how many more search field they have access to compared to what is displayed on their websites. Good luck!

Looking forward to meeting you as well, Jesse. See you then!

The Pittsburgh REIA Commercial Group will meet on Tuesday, September 10th @ 6:30PM at the Robinson Township Eat ‘N Park (100 Park Manor Blvd, Pittsburgh, PA 15205).

We’re going to focus this month’s meeting on analyzing commercial real estate deals. The ability to analyze deals accurately, quickly, and confidently is critical for both new and experienced investors. So, that’s exactly what we’re going to do in this meeting. Bring examples of any deals that you’d like the group to review and to analyze. For example, bring any sales memorandums or commercial RE listings with financials that we can dig into. We’ll answer your questions about how to analyze different types of deals and property classes that you’re most interested in.

As always, we’ll spend the second half of the meeting on our roundtable discussion where everyone will have an opportunity to ask any questions you have, to discuss deals that you are working on, or anything else you need or would like to talk about.

Both new and experienced commercial real estate investors are always encouraged to attend!

Just reach out if you have any questions. See you Tuesday!

Thanks for the question, Daniel. 

No concerns at all, quite honestly, as that isn't representative of what really is going on in our market. 

When you look at Pittsburgh more specifically, you'll find that the region has some of the very best medical research, healthcare systems, and universities in the country. That research and innovation has and continues to drive the startup community and to attract venture capital dollars from all over the country. Companies such as Amazon (Amazon just announced 2 weeks ago that they are building a 1M+ Sq Ft distribution center here), Uber (most of their LIDAR testing and other R&D are located here), Google, Microsoft, etc. Have significant presences here and continue to hire and to invest in the area.  So much so that neighborhoods adjacent to our "hot areas" have become very popular areas to invest, as well, so new neighborhoods continue to draw attention. And while it's still too early to tell how Opportunity Zones are going to affect lower income and other under represented segments, there is still quite a bit of housing stock available for rehab. 

After saying all of that, real estate prices here are still very affordable and Pittsburgh is still one of the best cash flowing metros in the country (without the downside risk that hyper inflated markets experience). Much better cashflow than what you're seeing on both coasts.

Feel free to reach out with any other questions or if you would like to discuss further!

MEETING NOTICE: The Pittsburgh REIA Commercial Real Estate Group will meet on Tuesday, August 13th @ 6:30PM at the Robinson Township Eat ‘N Park (100 Park Manor Blvd, Pittsburgh, PA 15205).

This month, we won't have a speaker, but will focus the meeting on our regular roundtable discussion. So, as always, bring your deals, questions, or anything else you'd like to discuss!

The Pittsburgh REIA Commercial Real Estate Group meets on the 2nd Tuesday of every month. This group is a subgroup of the Pittsburgh REIA. Go to pittsburghreia.com for more information about our organization.

There is no charge to attend this meeting and all are welcome, so come out and check us out!

The Pittsburgh REIA Commercial Group will meet on Tuesday, July 9th @ 6:30PM at the Robinson Township Eat ‘N Park (100 Park Manor Blvd, Pittsburgh, PA 15205).

This month, Elissa Stremlau, CPA from Louis Plung & Company, LLP will speak to the group about Opportunity Zones. Now that the IRS provided additional guidance on the rules surrounding this incentive in April (and PA finally confirmed their Zones), we are now able to start planning for and taking advantage of this incentive. This meeting is especially timely, as assets purchased in 2019 will receive the maximum capital gains deferment and exclusion benefit.
Bring your questions for Elissa, your deals, or anything else you have questions about or want to discuss. See me with any questions in the mean time. Thanks!

I agree with @Llewelyn A. in that the premise of the original question is too narrow. You really should be looking at 4 points in analyzing any potential investment, in no particular order.

1) Cash flow

2) Appreciation

3) Debt paydown

4) Tax benefits

Personally (and this is all personal preference based on your short and long term goals and how your existing portfolio is currently performing.

I'm going to put a large weighting on cash flow, as that is more important to me than appreciation since it's a speculative measure in my mind. I live in Pittsburgh, which is one of the very best cashflowing real estate markets in the country. If I'm buying something here that I can't cashflow right off the bat, I'm going to be hard pressed to make up ground in the other three areas above to justify making an investment. 

Either way, I'm absolutely going to look at the sum of the above 4 benefits over some period of time to understand which, truly, is the best overall investment. I recommend that everyone do the same. While brought up often, the cashflow vs. appreciation debate is not a complete evaluation.

The Pittsburgh REIA Commercial Group will meet on Tuesday, June 11th @ 6:30PM at the Robinson Township Eat ‘n Park (100 Park Manor Blvd, Pittsburgh, PA 15205). 

As usual, we'll meet in the meeting room to the right and at the end of the hallway from the cash registers in front.

Pittsburgh REIA member and real estate consultant/analyst/broker Max Wilson will talk to the group about how to evaluate commercial real estate deals. Max will talk about how to evaluate different property classes and how residential real estate investors can begin to invest in commercial RE. We'll also talk about some of the most common mistakes that many investors make when evaluating deals. Max has seen it all, so experienced commercial investors will certainly learn something, as well.

As always, we'll have our round table discussion after the presentation, so bring any deals that you'd like to discuss with the group (especially with Max joining us!), any questions you have, or anything else you need help with.

(If you are new to or are interested in learning more about commercial real estate investments and how to make the transition from residential RE, this will be a great meeting for you to attend!)

When creating any list with a list provider, I very strongly suggest calling them directly and speaking with someone. Tell them exactly what you want instead of limiting yourself and defaulting to the fields and criteria that you find online. You can customize your lists much more specific to your actual needs.