Rental Property Investor · Southlake, TX · Member since 2014 · 2 posts · 2 votes
Hello, I am a real estate investor based out of Dallas, TX. I have 4 rental properties this side. I am interested in Cleveland for a couple of reasons 1) I work in Akron (travel for work) and 2) I did some research and saw that Cleveland has some of the best price-to-rent ratio for rental properties. Also traveling to Akron should make it easier to manage. I am looking at getting some properties before Summer 2020. At least a couple. My budget would be <200k range. I would like to get me some recommendations on the different areas in Cleveland, looking for decent (I guess B and above) neighborhoods. Any feedback would be much appreciated.
Hello, I am a real estate investor based out of Dallas, TX. I have 4 rental properties this side. I am interested in Cleveland for a couple of reasons 1) I work in Akron (travel for work) and 2) I did some research and saw that Cleveland has some of the best price-to-rent ratio for rental properties. Also traveling to Akron should make it easier to manage. I am looking at getting some properties before Summer 2020. At least a couple. My budget would be <200k range. I would like to get me some recommendations on the different areas in Cleveland, looking for decent (I guess B and above) neighborhoods. Any feedback would be much appreciated.
Thanks,
Kiran Raj
Hi Kiran! I have been investing in Cleveland for years, and I have found it to be a good market for cash flow. 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. Feel free to drop me a private message.
A few areas that could be good for getting starting in the Cleveland area would be Euclid, South Euclid, Lyndhurst Lakewood, Cleveland Heights, Parma or Shaker Heights (these are all suburbs not actually in the city of Cleveland). Each of these cities have at least some sections that are 'B' or better.
I am also from Dallas TX. I bought a duplex last year in Old brooklyn but its a C class neighbourhood but income is good. I would say parma, Lakewood, clevelland heights, shaker height are B class with your price range.
Hello, I am a real estate investor based out of Dallas, TX. I have 4 rental properties this side. I am interested in Cleveland for a couple of reasons 1) I work in Akron (travel for work) and 2) I did some research and saw that Cleveland has some of the best price-to-rent ratio for rental properties. Also traveling to Akron should make it easier to manage. I am looking at getting some properties before Summer 2020. At least a couple. My budget would be <200k range. I would like to get me some recommendations on the different areas in Cleveland, looking for decent (I guess B and above) neighborhoods. Any feedback would be much appreciated.
Thanks,
Kiran Raj
Stick to the suburbs. Try looking at Euclid, Shaker Heights, Cleveland Heights, Bedford, South Euclid, Willowick, Eastlake, Wickliffe, and Mentor.
Hello, I am a real estate investor based out of Dallas, TX. I have 4 rental properties this side. I am interested in Cleveland for a couple of reasons 1) I work in Akron (travel for work) and 2) I did some research and saw that Cleveland has some of the best price-to-rent ratio for rental properties. Also traveling to Akron should make it easier to manage. I am looking at getting some properties before Summer 2020. At least a couple. My budget would be <200k range. I would like to get me some recommendations on the different areas in Cleveland, looking for decent (I guess B and above) neighborhoods. Any feedback would be much appreciated.
Thanks,
Kiran Raj
Hi Kiran! I have been investing in Cleveland for years, and I have found it to be a good market for cash flow. 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. Feel free to drop me a private message.
A few areas that could be good for getting starting in the Cleveland area would be Euclid, South Euclid, Lyndhurst Lakewood, Cleveland Heights, Parma or Shaker Heights (these are all suburbs not actually in the city of Cleveland). Each of these cities have at least some sections that are 'B' or better.
Real Estate Agent · Westlake, OH · Member since 2014 · 186 posts · 165 votes
7y
Kiran, you’ll probably want to determine the minimum rate of return that’s acceptable to you and whether you’re investing for cashflow or appreciation before you try to narrow your search down to particular areas.
I’d consider just about all of Lakewood a B (maybe a few B- bordering on C areas). Its a strong rental area that continues to improve with some new development and code enforcement which has also driven prices up. You can invest there for good price stability, some appreciation and good tenants that will result in minimal headaches for you....but you aren’t going to get a lot of cashflow. There are areas in Cleveland (just over the Lakewood border) where you’ll do a lot better with cashflow, have tenant quality that’s at least close but where you won’t necessarily see the same amount of appreciation. So it depends on your overall goals and outlook.
Hello, I am a real estate investor based out of Dallas, TX. I have 4 rental properties this side. I am interested in Cleveland for a couple of reasons 1) I work in Akron (travel for work) and 2) I did some research and saw that Cleveland has some of the best price-to-rent ratio for rental properties. Also traveling to Akron should make it easier to manage. I am looking at getting some properties before Summer 2020. At least a couple. My budget would be <200k range. I would like to get me some recommendations on the different areas in Cleveland, looking for decent (I guess B and above) neighborhoods. Any feedback would be much appreciated.
Thanks,
Kiran Raj
When investors get hosed it's when they think they are buying something low risk that is actually high risk. For Cleveland itself I created The Ultimate Guide to Grading Cleveland Neighborhoods to assist investors in their due diligence here in Cleveland. From there just match your risk tolerance with the associated neighborhood and you're off and running.