How To Choose Property Location

Location, Location, Location, that is what everyone in real estate says is the key to success. This is pretty much a fact the better location the higher the value of that property will generally be. The question is, what's the good location? Now this can be perceived as the areas that will appreciate in value the most, or the areas that have the most development going on, but I want to discuss the best location for you to start buying houses for cash in Pittsburgh.

As you search you will have to determine what will be your sweet spot. What part of town do you think you have an edge or at least feel competent in your abilities to be successful investing in. Some people focus on low crime rates, some people focus on college towns, others focus on the cheapest prices, there's many strategies to finding the location for your properties.

Here are a few things we suggest considering before jumping on a deal...

1. Drive Time

Drive time is important when running your business. From just an efficiency and cost of gas standpoint, you don't want to be driving an hour and a half each day to a project or rental property. Finding a place that is convenient for you maybe up to 30 minutes away is a great start. If you have issues with the project, or if a tenant needs something you'll be close enough to jump on the problem without making a whole day of it.

2. Taxes

The school and property tax bill can literally destroy the ROI of your investment. If you are cash flowing a few hundred dollars a month, but the tax bill comes back at 4k per year, well there goes any profits on the transaction. Taxes are also a guaranteed expense. You can't do anything to stop them and it does nothing to the value of your home. We prefer to focus on areas will lower tax milage to reduce some of the guaranteed expenses in real estate.

3. Appreciation

In real estate the goal is to try to create an income and also reap the benefits of an appreciating asset. This means the value of the area increases thus making your property more valuable too. Finding areas with tons of development, new construction, new stores and entertainment, is a great source of appreciation for a neighborhood. While this is speculation and cannot be guaranteed, keeping up to date on any new developments in the area you want to buy can help the value of your property in the long run.

When buying houses, the investor is always the decision maker. There is no right or wrong place to buy property, assuming it's purchased at a proper price. These are just some tips that tend to get overlooked in the euphoria of searching for houses to buy. Keep in mind all the factors before pin pointing your ideal location in Pittsburgh to invest.