Lots of investors are looking to get started, and as active real estate experts in Pittsburgh PA, we get asked to share our secrets quite a bit.
Fortunately, we love to share 🙂
One of the biggest questions we get from local investors is ” How do I find investment properties in Pittsburgh PA?”
The flood of foreclosure and bank owned deals have all but dried up (compared to where they were a few years back)… people are having to get more creative in finding the best deals on local Pittsburgh investment properties.
We source properties from a variety of marketing routes… tv, radio, newspaper, offline , online, etc… so there is no single way that is best to generate leads for solid investment properties in Pittsburgh.
Below we will walk you through a few ways you can take action to find great properties to add to your investment portfolio.
Remember, if you do not want to work for someone the rest of your life, then you will need to plan accordingly to have any sort of retirement these days.
Most investors are afraid of competition – they think that if they share their secrets, someone will steal their ideas from them and threaten their business earnings. We see this all the time with other less experienced small business owners in Pittsburgh. The fact is, there is more than enough business to go around for everyone, and working together is often the best way everyone will win.
We operate in kind, and make a point to work with other like-minded investors to strengthen the local community.
We share our learning and our philosophies to improve the quality of investment in Pittsburgh and build stronger communities. Ultimately, we are all investing in the same areas, there is plenty of business available for everyone, so it makes sense to do it right.
How Do I Find Investment Properties in Pittsburgh?
There are a few core principles that are important to understanding if you want to get the best investment property deals.
First: Think Long Term
Thinking long-term means learning from the past to better anticipate the future.
Real estate does not move like the stock market. Properties are physical structures where people work, live and socialize – they are not just numbers on a screen. Making a windfall of cash on a short-term real estate deal is possible, but those come seldom so your best bet is running the marathon and not the sprint when it comes to your strategy. Be consistent and try for singles and doubles instead of home runs with each deal.
Thinking long term also means that if you do not find the local investment properties you are seeking right away… you need to keep trying and taking daily action. Remember, this is not a sprint… it’s a marathon.
It is a great idea to find several resources of properties that fit your criteria (like our Pittsburgh Investment Property Buyers List >> ) so you have consistent flow of great deals to preview.
Second: Focus on Relationships
The investment community in Pittsburgh is much smaller than most people think.
There are only a handful of brokers and investors who conduct most of the business in the market. Ever heard of the Pareto Principal? We have:-)
Most investors are accustomed to working with the same people on a regular basis. It is worth the time to build quality relationships and make an effort to learn from those with more experience than you. If you can, seek out and work with you local professionals. They are your best source of good deals, now and in the future.
How do you get to know theses people? Go to your local Real Estate Investor Association meetings and find the people who are most active and talk to them. Ask them which real estate agents they use, what wholesalers in the area are active (and get their info) and let everyone know that you are looking for investment properties that fit your criteria. Learning how to find a good investment property in Pittsburgh is not a that difficult and building relationships can be a key element in getting some of the best deals on properties that no one else has access to in the Pittsburgh PA market.
Who should you get to know?
- The top investment friendly real estate brokers in Pittsburgh
- The top real estate Appraisers who deal w/ the types of properties you are seeking
- The top property Wholesalers in the area
- The top property Rehabbers or Flippers in the area
- Title agents that often work with investors or investment properties regularly
Third: Identify Your Target Investments
Investment are like many other aspects of life – the people who are the most focused often succeed the most. You have to find your niche. Some people make millions just in parking garages or storage units.
Others specialize in residential apartments, while others deal strictly with retail. If you take the time to do your homework, you can analyze the different segments of the market to see which opportunities are truly the best for you – and not just the best marketed. Once you find exactly what you want to own, you can create a plan to find out who owns that particular property…and make sure that property owner knows to call you when they want to sell!
This takes a lot of work, but it is a tried-and-true method for creating long-term wealth.
Forth: Utilize Technology
Sign up for our list of exclusive properties, and we will notify you instantly when we find a great investment.
We frequently source properties for deep discounts, secure them and then sell them for a discounted rate to the people on our list who are ready, willing and able to invest. There are other ways to get notified about properties on the open market – you should get familiar with searching the multiple listing services with the rest of the herd because every once in a blue moon a great deal shows up.
We do not deal with average deals – we only pass along great deals to our partner investors. We are not real estate brokers, and our business is in Pittsburgh is niche.
If you are looking to seriously invest in Pittsburgh, we would love to chat with you to learn your specific wants, wishes, and objectives.
So… hopefully you now know how to find great investment properties in Pittsburgh. If you have any questions please do not hesitate to give us a call or join our buyer’s list below!