Insights

Commercial real estate is an investment of long-standing, tangible assets that give returns in two ways: first in the form of rent or lease returns, and second in the value appreciation of the property. Risks in this kind of investment are low, and this kind of real estate, as opposed to the purely residential real estate, comprises of office buildings, industrial property, hotels, farmland, and the such like.

At Birgo Realty, one of the most important things to us is building relationships. We are committed to improving lives through real estate. Whoever we come in contact with and do business with we seek to honor and create value as a result. Investors, property owners, contractors, and tenants alike, you all make up our partnerships.

We might be a little biased, but Pittsburgh is the place to be. Considering that The Huffington Post refers to the burgh as the “Coolest American City You Haven’t Been to.” and since 2000, has topped Forbes’ list six times for being the most livable city.

We recently completed our newest Airbnb. This property was previously owned and occupied by the former owner of Penn Brewery, which is located just the road. Although the building was originally intended to be a single family home, it has since been renovated to house six units, including our Airbnb apartment, which adds to our collection of short-term rentals.

“Home is where the heart is”, but it’s important to take some key things into consideration when deciding where to move. We’ve gathered distinct facts about Pittsburgh and its most attractive neighborhoods so you’ll be able to decide where is the best Pittsburgh place for you to live.

The real estate world is intrinsically connected to other professional fields. The links vary, but in the financial sector, there is a concept which has become very similar to the stock market. A REIT, or real estate investment trust, is a perfect example of the intersection of finance and real estate.

Pittsburgh has recently been named the 3rd most “undervalued real estate” city in the country. This is not the first time Pittsburgh has received praise for job availability, real estate affordability, and overall opportunity.

In our current financial climate, renting is a perfect opportunity for people, especially young people, to have freedom and autonomy with housing. If someone chooses to eventually buy a property, they can go forward with an understanding of the commitment. They will have first experienced the renting benefits of the market and can make an informed decision.

Pittsburgh has been rated the most livable city in America on numerous occasions and has accommodated newcomers for centuries. The Northside history is concentrated and rich. This part of Pittsburgh features many different districts which are generally grouped together such as the Mexican War Streets and Allegheny West, Birgo Realty’s own neighborhood.

Cap rate, a term frequently used in real estate, demonstrates the return on one’s investment in a property, usually a commercial building. It is defined as annual operating net income divided by the cost of the property. What needs to be noted for financing purposes, and could easily be forgotten by some people, is that debt on the property is not taken into account for. Also, it needs to be understood by potential investors that cap rate is not the same as the cash flow.

Other than actually identifying a property, the most important thing to consider is money. Some properties can be purchased and sold for millions of dollars, amounts which not all people have access to at any given moment. There is a multitude of ways which a person can find the proper funding for his or her property. In real estate funding, much of will depend on personal credibility and the type of investment property.

There are two things that most people, particularly young, post-graduates need – available jobs and affordable housing. Millennials in Pittsburgh have access to plenty of both.