Cleveland and all the burbs
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Specialist · Strongsville, OH · Member since 2016 · 303 posts · 217 votes
2yQuote from @Bob S.:
Quote from @Robert Ellis:
Quote from @Justin Brin:
@Bob S. I noticed Cleveland OH population is declining:
How much will it affect appreciation in the long run?
Where are all the vacant units in the area?
This article spells it all out and describes why my opinion it wouldn't make sense to invest in Cleveland. Too much housing stock, less mega projects, declining population in the past 2 years, not enough macroeconomic data like Columbus has.
https://www.daytondailynews.com/community/ohio-aims-to-add-p...
Go to jobsohio.com if you want to read the opposite. In the last 5 years columbus average value has gone from 170k or 180k to 300k+. Cleveland Is still half the price of columbus or even less on average.
10 of the some of the only growing counties are part of the Columbus MSA out of 12 counties. I wouldn't want to be investing in a market with negative population even if I could get it for free. Older homes that need updates are hard to keep up with deferred maintenance when your value hardly goes up.
https://www.dispatch.com/story/news/local/2023/03/31/census-...
Too much housing stock, hmm, go try and get a deal, there are none. Older homes are hard to keep up with, not sure where you're getting your Info but its incorrect. They were built better back then. I have had dozens, I have bought and sold about 500 out there. As long as you reno properly all is ok. Values hardly go up, again this proves my point I always post about, sitting on the internet is a 100% waste of time. So, the props that we paid 25k for and now selling for 125k -150 .The MF we paid 10k per unit and now are 45- 65k , how about the ones in Ohio City that were 20k and now 200k. Again, the internet is a waste of time All my properties are built from 1910- 1940 No issues. Try buying a 4- 10-unit, good luck, nothing out there. No mega projects, hmm not sure what you're looking at, but go there and see for yourself. Massive projects everywhere. I have NEVER sat on the internet to analyze a market; I go and see for myself. For 10 years I have been hearing from people that just analyze things to death and never do a deal, well how wrong were they? Coumbus is a great market as well, my buddy has 250 props there.
All the best
Shhhh let them think it's a bad place to invest
26 Replies
- Investor · Member since 2020 · 337 posts · 213 votes2y
Quote from @Eric Murillo:
Quote from @Bob S.:
Hey all, I have expensive experience there, who needs advice, recommendations or just guidance, Happy to help.
Looking to get guidance I have a property in Maple Heights its producing about $200 cashflow monthly but i have gotten burned on a couple of contractors and the tenants i have are not the greatest with paying rent. I believe they want to leave in March 2024 so I am debating if I should re-rent it, change property managers or just sell and invest that somewhere else? Thanks for the help.
MH is a solid area. I would recommend getting a PM to manage for you.
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