Akron vs Canton vs Massillon

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Akron vs Canton vs Massillon

Michael Wentzel
Investor · Colorado Springs, CO · Member since 2013 · 643 posts · 280 votes

We have a portfolio of properties in Colorado and we're looking to start buying properties in a second market in Ohio. My wife and I are both from Ohio, so we often end up back there for visits. We like the possibility for cash-flow properties and we like the Midwest. I was initially looking at Cleveland or Columbus. Both seem intriguing, but both are huge and might take a bit of time to get my mind around. So before I decided which one, I became distracted with this little group of markets in northeast Ohio...

Akron is smaller than Cleveland and bit farther south. Beyond that is Canton, which is smaller than Akron and a bit farther south. Finally you have Massillon which is a bit smaller still and a bit west of Canton. All seem to have similar price points for properties and I would assume the rents are similar. 

Are there any investors involved in these markets who knows why I should choose one over the other two? Or why should I be in one these markets rather than Cleveland or Columbus which are bigger?

Mike

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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
10y
Originally posted by @Michael Wentzel:

We have a portfolio of properties in Colorado and we're looking to start buying properties in a second market in Ohio. My wife and I are both from Ohio, so we often end up back there for visits. We like the possibility for cash-flow properties and we like the Midwest. I was initially looking at Cleveland or Columbus. Both seem intriguing, but both are huge and might take a bit of time to get my mind around. So before I decided which one, I became distracted with this little group of markets in northeast Ohio...

Akron is smaller than Cleveland and bit farther south. Beyond that is Canton, which is smaller than Akron and a bit farther south. Finally you have Massillon which is a bit smaller still and a bit west of Canton. All seem to have similar price points for properties and I would assume the rents are similar. 

Are there any investors involved in these markets who knows why I should choose one over the other two? Or why should I be in one these markets rather than Cleveland or Columbus which are bigger?

Mike

 Personally I think you are splitting hairs when deciding between the Cleveland and Akron markets. 

For instance Holton-Wise is of course fully invested up here in Cleveland and we are not interested in doing any investing and or property management down in Akron. This has nothing to do with the Cleveland market being better then the Akron market it is simply us investing where our operation was geographically started. The reason we chose the geographic location was even simpler, it is where we grew up. Had we grown up in Akron I imagine we'd be doing the exact same thing in Akron that we are doing up in Cleveland.

In your situation you are not local to Cleveland or Akron so you need a management team to handle your investments. I recommend you choose the market based upon the team(s) you meet in said markets. The properties and neighborhoods themselves will be so similar it doesn't really matter. It is who you feel comfortable working with. Since you two grew up in Ohio perhaps you should base your decision on which market is closest to where you and your wife grew up as your friends and family members would be able to lend a helping hand or keep an eye on things if need be.

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  • Cheryl H.
    Real Estate Investor · Canal Fulton, OH · Member since 2013 · 33 posts · 12 votes
    9y

    @Kayla V. The meeting this month is the holiday dinner.  Let them know you are coming here:

    https://www.meetup.com/Akron-Canton-Real-Estate-In...

    0Reply
  • Kayla V.
    Rental Property Investor · Denver, CO · Member since 2016 · 66 posts · 44 votes
    9y

    @Cheryl H. Thanks! I registered and paid online. 

    0Reply
  • Michael Wentzel
    OP
    Investor · Colorado Springs, CO · Member since 2013 · 643 posts · 280 votes
    9y

    @Kayla V.

    Thank you for bringing up the REIA. I actually attended a great meeting back in the summer in Akron and learned a lot and made many contacts. One of the contacts led me to my first purchase and we are looking at our second and third now. I highly recommend the REIA in Akron as a good place to start.

    Mike

    1Reply
  • Ronda R.
    Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
    9y

    anyone else going to this?

    https://www.meetup.com/Akron-Canton-Real-Estate-In...

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  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    9y
    Originally posted by @Michael Wentzel:

    We have a portfolio of properties in Colorado and we're looking to start buying properties in a second market in Ohio. My wife and I are both from Ohio, so we often end up back there for visits. We like the possibility for cash-flow properties and we like the Midwest. I was initially looking at Cleveland or Columbus. Both seem intriguing, but both are huge and might take a bit of time to get my mind around. So before I decided which one, I became distracted with this little group of markets in northeast Ohio...

    Akron is smaller than Cleveland and bit farther south. Beyond that is Canton, which is smaller than Akron and a bit farther south. Finally you have Massillon which is a bit smaller still and a bit west of Canton. All seem to have similar price points for properties and I would assume the rents are similar. 

    Are there any investors involved in these markets who knows why I should choose one over the other two? Or why should I be in one these markets rather than Cleveland or Columbus which are bigger?

    Mike

     If you are still considering Columbus I'd love to be a resource here. Work with plenty of out of state investors. Everyone has their own strategy. 

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
    WebsiteView Page
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  • Cheryl H.
    Real Estate Investor · Canal Fulton, OH · Member since 2013 · 33 posts · 12 votes
    9y

    @Ronda R., I will go. I've only been to one Akron meeting a couple of months ago and need to meet and network there. It will be great to meet you! If you're in the area, Stark County REIA has our breakfast tomorrow at the Athens Restaurant in Canton at 8:30.

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  • Ronda R.
    Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
    9y

    @Cheryl H. I signed up and plan to go. I am a California driver so the only thing that would stop me is ice or bad snow. Look forward to meeting you.

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  • Michael Wentzel
    OP
    Investor · Colorado Springs, CO · Member since 2013 · 643 posts · 280 votes
    9y

    @Robert Ellis

    Thank you for reaching out. I'm inching my way into Akron and realizing it will take more a year or two to build a team and foundation in that market. So it will probably be 2018 or 2019 before we're ready to open a third market.

    Mike

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  • Joshua DawsonPro Member
    Real Estate Broker · Dublin, OH · Member since 2013 · 111 posts · 36 votes
    9y

    Saw the subject line and immediately thought of high school football. #youmaybefromohioif

    1Reply
  • Ronda R.
    Investor · Atascadero, CA · Member since 2015 · 238 posts · 90 votes
    9y

    @Kayla V. I am sorry I just now saw your comment. I am still looking for a good investment realtor. I have used a couple and tried working with a few more. Personalities didn't match or they weren't that interested in working with lower $ properties. I totally understand but there has to be someone who loves the challenge and appreciates a customer that is constantly looking and buying. The woman I am currently working with may be a keeper. The jury is still out.

    As far as property manager, I don't use one. I did that with my Oregon rental and hated it. I manage long distance. If there is a plumbing issue, I call a plumber and send him over. It can be a little challenging but I have worked with handy men that work for management companies and they did less than stellar work. In addition I was told at the REI group I attended that there weren't any good property managers in town. Right now I have a friend that I pay to do odd jobs like mow the lawn, hang address numbers, hang blinds, etc. He does it as a favor but I am looking for a good handyman that I can call to do odd things like that. Self managing has worked out for me so far but I only have 4 properties/6 doors. It may be different when I acquire more.

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