Cleveland, OH - Buy and Hold rental in Lyndhurst

[Sastry Srini]

Hello all,

I do not live in Cleveland Ohio, but thinking of a buying a rental property in Lyndhurst city of Ohio. The single family house is located near Cranover road. I have done basic research using Google.

Appreciate any input  from fellow BPers as regards to location, ability to rent or any other info.

Thanks in advance.

[James Wise]

@Sastry Srini

This may sound odd coming from a Cleveland Real Estate Broker and Property Manager, but why would you want to buy a property here in Cleveland?

I see from your profile that you live in Michigan. The Michigan real estate market has similar price points than the Cleveland market. We build investment portfolios for out of state investors all the time but the common theme is that they live in a market that they are priced out of such as California or New York.

If you go out of state everything you do is going to cost you more than if you had the property in your backyard. If prices are the same you will probably always do better the closer the property is to you.

I am curious to hear your thoughts on this topic.