Investor · West Chester, PA · Member since 2019 · 66 posts · 54 votes
The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you!
Hey Geoffrey, Cleveland is an excellent choice! The city's booming rental market driven by a growing population promises a consistent cash flow. Additionally, its affordability with a median home price below the national average makes it especially appealing for investors looking for a solid return. I got the city mapped out by their neighborhood class, if you need to find a good neighborhood to start with, let's connect! I'd be happy to.
I'm newish in Akron and looking to move into Cle or Cbus. The big thing is having a team on the ground in those markets. Especially Cle where the neighborhoods vary by street. I'm currently trying to make contacts so let me know if you find anyone you love?
I live on the beach in FL and do deals all the time in Cleveland,
I'm newish in Akron and looking to move into Cle or Cbus. The big thing is having a team on the ground in those markets. Especially Cle where the neighborhoods vary by street. I'm currently trying to make contacts so let me know if you find anyone you love?
I live on the beach in FL and do deals all the time in Cleveland,
I'm newish in Akron and looking to move into Cle or Cbus. The big thing is having a team on the ground in those markets. Especially Cle where the neighborhoods vary by street. I'm currently trying to make contacts so let me know if you find anyone you love?
I live on the beach in FL and do deals all the time in Cleveland,
I’d love any tips you’re willing to share!
All you need is a team, :) Well and money LOL,
Lol, money I have, the team is the roadblock. Im assuming start with a PM? Akron was easier because we have family in the agent/investor business so we had lots of trusted referrals.
Be careful about "numbers [that] look to good" especially in rust belt markets. There are lots of really rundown areas in places like Cleveland, Akron and Canton where the numbers look great on paper but that's the only place they'll look great. In many such areas, the operating expenses will always outpace income unless you're an expert on such areas and renting to low income, which it's almost impossible to be when investing out of state.
The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you!
Hi Geoffrey, I'd recommend that you also look into Columbus. I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect
Hi Jimmy, have you dealt with section 8 in Columbus? If so, would you recommend?
I'm newish in Akron and looking to move into Cle or Cbus. The big thing is having a team on the ground in those markets. Especially Cle where the neighborhoods vary by street. I'm currently trying to make contacts so let me know if you find anyone you love?
I live on the beach in FL and do deals all the time in Cleveland,
I’d love any tips you’re willing to share!
All you need is a team, :) Well and money LOL,
Lol, money I have, the team is the roadblock. Im assuming start with a PM? Akron was easier because we have family in the agent/investor business so we had lots of trusted referrals.
No not PM, you need someone that has deals, realtors do NOT have them Also you need to be cash about 100k. I just got two more today sent to me. My guys are walking them today. I will give an offer today and if accepted will close in a week or so. Best part, again, I'm in FL
@Geoffrey Paugam- agreed ...if you are needing to use financing to purchase - make sure to have a full loan pre approval in place before searching / offering for a new place . Beware that if the loan amount you need is very low ( sub 70K ) - there are many lenders that cant/ wont be able to do the loan . Also beware that paying a large loan fee may affect the lenders ability to do the loan.
@Geoffrey Paugam- agreed ...if you are needing to use financing to purchase - make sure to have a full loan pre approval in place before searching / offering for a new place . Beware that if the loan amount you need is very low ( sub 70K ) - there are many lenders that cant/ wont be able to do the loan . Also beware that paying a large loan fee may affect the lenders ability to do the loan.
@Geoffrey Paugam If you are looking in Cleveland I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.
@Geoffrey Paugam- agreed ...if you are needing to use financing to purchase - make sure to have a full loan pre approval in place before searching / offering for a new place . Beware that if the loan amount you need is very low ( sub 70K ) - there are many lenders that cant/ wont be able to do the loan . Also beware that paying a large loan fee may affect the lenders ability to do the loan.
I got cash
Geoffrey - awesome ...having cash makes negotiating way easier ...fyi - in the future - if you need to get a loan in the name of your LLC as compared to a loan in your own names - the terms on the financing will be higher .
Hey Geoffrey, Cleveland is an excellent choice! The city's booming rental market driven by a growing population promises a consistent cash flow. Additionally, its affordability with a median home price below the national average makes it especially appealing for investors looking for a solid return. I got the city mapped out by their neighborhood class, if you need to find a good neighborhood to start with, let's connect! I'd be happy to.i
I closed on another SF last week, about 18% NET cap, closing on a duplex next week, will be about 15% NET cap., My guys are walking 2 more duplex today!!
I recently expanded into the Ohio market and am actively marketing to sellers in the area. A useful tip I’ve discovered in various cities is to use Redfin to identify the hottest markets in each state. I hope this helps!
I recently expanded into the Ohio market and am actively marketing to sellers in the area. A useful tip I’ve discovered in various cities is to use Redfin to identify the hottest markets in each state. I hope this helps!
The numbers look too good in Ohio to pass up! I’m interested in Cleveland, Akron, Canton. Can anyone share their thoughts! Cleveland is number 1, does anyone have experience there! Thank you!
So how many have you picked up, how are things going? I closed two weeks ago on a 3 BR in Lee Harvard It will have about 18% NET cap. Closing on another this week with similar return.
I recently expanded into the Ohio market and am actively marketing to sellers in the area. A useful tip I’ve discovered in various cities is to use Redfin to identify the hottest markets in each state. I hope this helps!
What type of numbers are you looking for? I may be able to put a package together for you in Canton. $1000 Rents.
whats the all in price? 1k rent is about 8k net income,
$100k/property $850k for package of 10
100k each (with 10- 15k in reno at least) with about 8k net income, no thanks. Thats only 6- 7%ish, .Nobody invests in that area for that low of a return. ALL mine are never less then 15% most about 20