Buying in the Cleveland Ohio Market

[Onan Dumas]

Hey everyone,

It has been a while since I posted on BP and am glad to be back. I've been busy with life and work etc etc. Anyway I've got a questions for your Clevelanders or whatever you call people from there (no offense!)

My business partner just moved back home to live near his parents in Cleveland. We were interested in seeing how the market was compared here to Dallas where I live and after doing so research I was floored at what I was seeing in terms of pricing. Now I haven't had too much time to research the market out there but from my understanding is that Cleveland's RE market is in a very similar situation to Detroit's (I may be wrong). Anyway I was searching for multifamily and sfr homes out there and was seeing some diiiiirrrt cheap multifamily homes. I mean there were som decent fixer upper foreclosures that where going from 10k to 30k. There is no way in hell that you would find that here in Dallas unless it had been in a fire lol.

Is this just too good to be true and I am missing out on the simple economics of a downturn market there or is this real?

Any insight would be appreciated.

Thanks!

[Ronald Wentz]

@C. Timothy Murphy III

Thanks for the POS information for the City of Cleveland.