Do You Have What It Takes to Invest in Pittsburgh?

Welcome to Yinzvester:

Welcome to the hottest Pittsburgh-focused Real Estate Blog between the Allegheny River and the Pacific Ocean. I write this facetiously, but I do hope to create a small but loyal readership.I've decided on the name Yinzvester as a tribute to the people and properties of Western Pennsylvania. If yinz want to learn and analyze investment properties, you've come to the right place.

About Me:

My name is Nick MacFalls. I've been investing in multi-family homes for 15 years.  I currently own 19 units/6 buildings. I grew up in Altoona, PA and like many Western Pennsylvanians. I left after high school. I went to the Air Force Academy and was stationed in southern and northern California. I have always been drawn back to my home. My grandfather was a fruit broker in the strip district for 40 years. A majority of my properties are within a ten-minute drive of where he cut deals on oranges and apples.

As an investor, I take a very analytical approach to investing. Cash-flow is normally the first metric that I assess. I will not invest in a property that does not cashflow. I also have in-depth conversations with my property management team about the potential rentability of the property. Finally, since I invest for the long-term, the cherry on the top is appreciation. My initial investments in the Beechview neighborhood have a high cap rate but also grew in value. With a little patience, I hope to identify properties that have long-term potential and are underpriced.

Why I am starting this blog:

I have friends who want to invest in Pittsburgh. I want to help them. I want to share what I've learned. I buy 1-2 properties per year, and in-between, I like to evaluate other options.  Even more so, I feel the writing process can help improve my own strategies and I want readers to learn from interactions with like-minded investors. I am a collaborative person by nature and would ultimately love to work on deals with others or help create partnerships between my readers.

My Content:

My biggest focus will be on creating dialogue around potential investments. I'll be highlighting actual case studies of properties I've considered or bought over the years. As a former Level II Certified Building Operator, I have a keen interest in property management.  Many on-line property analysis tools under-estimate (or don't even consider) management and maintenance expenses. I don't live in Pittsburgh, and the most important partnership I have is with my property management company.

The initial blog articles will focus on!

• Assessing Cash Flow: Cash Flow is the main metric of all of my investments in Pittsburgh. I’ll detail why it’s so important. There are also factors that trump cash flow.
• Assessing Repairs and Staging: I will show you my handy chart that outlines which repairs need to be done immediately after purchase, and what can be done later.
• Fixers: Using Repairs to Lock-in Gains: I will explain how to use the first two years of rent to rapidly increase the value and profitability of your property acquisitions.
• Nick's Dealbreakers: There are certain property maladies that I won’t touch, and neither should you!
• Just My Type (of Place): Every Investor has a fetish. I will tell you about mine (triplexes and quads) and we’ll talk about other property types that I am looking into!
• Surprise, Surprise...You have $10k Repair. This article explains the virtue of keeping some money aside for repairs.