@Maria Fortner thank you! I heard Cleveland Heights, Brooklyn, Shaker Heights etc. do you know of other places in OH that are good? Is Toledo, OH a good place to invest?
Hey Sara, I have been investing in the Cleveland area for quite a while. I actually find that my 2-bedroom SFRs are my best property type! Generally less wear-and-tear than on larger properties, and the rent isn't really that much lower. Never had any problem finding/keeping tenants for the 2-bedroom houses.
I've gathered a ton of information on investing in the Cleveland area, and would be happy to share it with you if you are interested. It includes, among other things, a comprehensive map of the Cleveland area, grading each area from A+ down to F, using a consistent, objective and transparent methodology using publicly available data (as opposed to some of the maps/guides that brokers have created, based primarily on their subjective opinions). Personally I think Euclid, Garfield Heights, Bedford, Old Brooklyn (neighborhood in Cleveland on the west side) and North Collinwood (neighborhood in Cleveland on the east side) are the best/easiest areas to get started with investing in this market.
Feel free to add me as a connection and drop me a private message!
Real Estate Broker · Cleveland, OH · Member since 2018 · 227 posts · 133 votes
4y
Lots of great info on this thread! I'm a little late to the party, but just piggybacking on what everyone else said. I believe strongly in most of the west side neighborood multi-family properties. I'm not going to argue with the great JWise because his neighborhood grading list is very strong and helpful, but I would argue that a lot of the west side neighborhoods are really C to C- with some D's sprinkled in there, but still way better than areas on the east side.
Plus they're getting really good rents and there's a lot of development in those neighborhoods, especially around Metro and the lakefront. I predict a lot of those neighborhoods will increase in value and keep getting higher rents, which they have repeatedly over the last 2 years.
But for single family properties the best areas are still Garfield Hts, Maple Hts, Euclid but there are some opportunities on the westside as well, it just depends on what your price range is.