Buying in Cleveland Ohio Yeah or Nay?

[Ivan Wong]

Hello,  I am thinking about buying property in Cleveland Ohio, more specifically the suburbs of Cleveland.  I live in Los Angeles, CA so this will be a long distance relationship.  Does anyone have any experience buying and selling in this area?  Is the market stable or strong?  I just looking for something to cashflow.  Thank you!

[Michael Swan]

I have 6 apartment complexes and 7 single family there.  You need a good team established in that area too.  Property management and getting placed in the wrong suburbs that people thing are C class or above and really buy in C- or D areas!! Be careful as anywhere else, location, location, location is very important and possibly more important is property management.  Your PM needs to have an excellent reputation and ability to get quality tenants and retain quality tenants, raising rents (nuisance increases yearly).

Some people on BP have reached out to me and are on their 2nd or 3rd PM after 1 or 2 years of ownership.  Plus, you don't want ANY vacancies in the winter.  Nobody wants to move from Dec-March in NE Ohio.

Swanny