Price Drops in Cleveland

[Michael Cotton]

Hello,

I'm looking to invest in multifamily properties in Cleveland for around 100k. Cash flow seems amazing, however, I am seeing some properties that have dropped in value over the last couple of years. I'm looking to avoid paying for a property that will go down in value! Any insights?

[James Wise]

Quote from @Michael Cotton:

Hello,

I'm looking to invest in multifamily properties in Cleveland for around 100k. Cash flow seems amazing, however, I am seeing some properties that have dropped in value over the last couple of years. I'm looking to avoid paying for a property that will go down in value! Any insights?

 Values in the Cleveland area went up every year for the last 10-11 years. You only see values dropping in Cleveland in the last yr or so because we are currently experiencing a nationwide market correction, mostly due to mortgage rate increases.