Out of state investor - Cleveland

4 Replies

Hello,

I am looking to invest in some multi families in the Cleveland area from out of state. In general what areas are best to avoid as I will not be visiting these areas prior to purchasing. Also who are the good property management groups that are trustworthy?

Thanks

Originally posted by @Garrett Jenkins :

Hello,

I am looking to invest in some multi families in the Cleveland area from out of state. In general what areas are best to avoid as I will not be visiting these areas prior to purchasing. Also who are the good property management groups that are trustworthy?

Thanks

 I would stick to the southern part of Cleveland. Columbus, Ohio is the neighborhood you want to invest in.

I grew up in Cleveland and have returned several times. Not sure how many units/property you want, but the near west side (West 117th down to West 25th area - extending south to I-480) has lots of older apartments (many just 4 or 8 units, some bigger) and is becoming a popular area again.  Further south into Brookpark and Parma, there are probably more working-class multi-family opportunities. I don't know any property managers.

Originally posted by @Garrett Jenkins :

Hello,

I am looking to invest in some multi families in the Cleveland area from out of state. In general what areas are best to avoid as I will not be visiting these areas prior to purchasing. Also who are the good property management groups that are trustworthy?

Thanks

 I don't like phrasing things like best placed to avoid or best to invest etc....Best for what? For what strategy? All the areas are different and will be good or bad for you depending on your goals, budget, risk tolerance, expectations etc...

So with that said you should check out The Ultimate Guide to Grading Cleveland Neighborhoods where I have graded these neighborhoods on an A-F scale based on price and risk level. From there you can determine what's best for you and your business.