This issue looks at the total renovation at 444 Oneida St in Pittsburgh on Mt Washington. The property is owned by Jeff and Lisa Schmigel. I have been working with Jeff for over 10 years on various projects around Pittsburgh. This video takes a look at the property when the rehab was 40% complete.
The project involved completely renovating an up and down duplex. The interesting thing about this project was the decision that was made to keep it as a rental vs. converting to a single-family home and retailing the property. It’s a very hot retail market all around Pittsburgh and especially for desirable neighborhood like this one on Mt Washington. In the video Jeff discusses the economic decision process he used to determine the highest and best use of this property from a financial position. It’s a relevant discussion on wealth building with the added wild card that Airbnb brings to the table.
If you would like to discuss a real estate project, even if you don’t require a hard money loan at this time, I am always happy to share my experiences with another investor. You can reach me at https://g.page/r/CTcMtkHdqQHYEBA
Please check out the video of this project.