All Forum Posts by: Wade Savage

 I agree with Miranda!

Hello everyone, 

I am a new member of the Bigger Pockets platform. Currently, I am training to become a licensed Real Estate Agent and preparing for my license test. I am excited to be a part of this community and learn from the vast knowledge and experiences of its members. I would appreciate any tips, tricks, and insights into investing that you can offer. I can't wait to connect with you all, start the conversation, and hopefully make some money!

Welcome to Bigger Pockets! I am also new to bigger pockets and for the couple of days I have been in the forums, I have found a ton of knowledgeable people who are genuinely ready to help! I can't wait to see what tips, tricks, and best practices I will be able to use and the connections to great people I will be able to make!

I am currently using Polley Associates for my courses. I did the self-paced learning.  

Hello! As a fellow investor in the Pittsburgh area, I can recommend several neighborhoods that have demonstrated promise for the BRRR strategy. Areas like Lawrenceville, East Liberty, Bloomfield, and Highland Park have exhibited favorable potential due to their proximity to amenities, transportation, and the continuous growth of the local economy. Also check in Canegie, and the Coraopolis areas as well.

When considering properties for the BRRR strategy, it's essential to focus on those with an After Repair Value (ARV) and Loan-to-Value (LTV) of at least $75,000. This approach will significantly increase your chances of securing the necessary financing for the refinance, thereby maximizing your potential returns and minimizing risks.

While the market can experience fluctuations, staying updated on current trends and regularly consulting with local real estate experts will provide you with valuable insights and potential opportunities that align with your investment objectives. Best of luck with your investment endeavors here in Pittsburgh!

I agree with everyone on this thread. You and the contractor have tried to help and resolve the situation, but the tenant has been uncooperative and has refused to offer a solution. I suggest leaving the situation as it is and waiting for the tenant to change his attitude. It's insane that he brought up the race of the contractor, and in my experience, people who keep saying what they're "going to do" without taking any action are not planning to do anything.

Investing in multi-family student rentals can present a compelling opportunity in the current market, particularly in the Western Pennsylvania area where you live, work, and invest. While the recent shift to remote learning caused some concerns about the demand for student housing, it appears that these worries have somewhat subsided. The attractive deals in the small college towns in your vicinity are indicative of the enduring demand for student housing, underscoring the potential viability of this investment avenue.

Despite the challenges in finding cash-flowing investments, multi-family student rentals can offer a steady income stream and long-term profitability, given the consistent demand for housing near educational institutions. The Western Pennsylvania region's concentration of colleges and universities is a positive indicator for sustained demand in this niche market. Additionally, the potential for higher rental yields due to the shared nature of multi-family units could make this investment option even more lucrative compared to traditional single-family rentals.

While it is essential to remain mindful of market fluctuations and evolving educational trends, the apparent resilience of the student rental market in your area suggests that these investments could offer a stable and potentially lucrative option for your portfolio. Conducting thorough due diligence, including analyzing the local student housing market dynamics, vacancy rates, and rental trends, will be crucial in making informed investment decisions. Keeping a close eye on the shifting preferences of the student demographic and any developments in the higher education sector will further aid in assessing the long-term viability of multi-family student rentals in the Western Pennsylvania area.

In my analysis, considering the data available up to 2022, the Pittsburgh real estate market appears to hold promising investment prospects, particularly in the realm of rental properties. Over the next 4-7 years, my research points to the following as the top three areas for potential investment in Pittsburgh's real estate market:

1. Downtown Revitalization Projects: It's worth noting that ongoing revitalization initiatives in Pittsburgh's downtown area are set to convert former industrial spaces into vibrant mixed-use developments. This transformation is expected to escalate the demand for rental properties, particularly among young professionals and millennials who seek the allure of urban living. I believe that participating in these projects could yield substantial long-term returns owing to the increasing demand for centrally located rental properties.
2. Suburban Residential Development: The suburban regions surrounding Pittsburgh have experienced a notable surge in residential development, driven by the escalating need for affordable housing and a tranquil suburban lifestyle. Investors are eyeing the construction of single-family homes, townhouses, and apartment complexes in these areas, recognizing the potential for lucrative returns in the rental property market. I recommend focusing on suburban developments to tap into the rising demand for rental housing outside the city center.
3. Student Housing Near Educational Institutions: With Pittsburgh being home to several prestigious universities and colleges, the consistent influx of students has created a robust demand for affordable rental housing in close proximity to these institutions. It would be wise to explore investment opportunities in the development or acquisition of rental properties that cater to the needs of the student population. The stability and consistent demand in the student housing market make it a particularly attractive avenue for investment.

In conclusion, keeping a close eye on these trends and conducting thorough market analyses will be crucial in identifying lucrative opportunities for rental property investments in Pittsburgh. Given the city's population and the evolving preferences of the local demographic, these investment areas show strong potential for long-term success."