Pittsburgh is experiencing a resurgence of population growth because of industry growth in technology, gas and oil in the area. And these newly employed Pittsburghers have also drawn real estate investors into the area to renovate and rehabilitate the once stagnant real estate market. According to RealtyTrac, a California based company that collects and analyze real estate trends, Pittsburgh is the number spot for investors to buy properties and quickly sale/“flip” them for a profit. The depressed prices in Pittsburgh has allowed investors see triple digit gains thus making it the most profitable area for real estate investors. On average real estate investors in Pittsburgh have experienced on average a return of 106% on investments according to data from 2014 real estate sales. Experts say that Pittsburgh’s growth is a result of a balanced mixture of plentiful distressed inventory, affordability and increased demand.
New Orleans comes in second and Baltimore in third with 76 percent and 73 percent return on investment respectively.
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