Question about location
Hello everybody! Is anyone investing in the Cleveland, Ohio area? If so how is it? How is the crime? I’m just kind of skeptical of investing there because I’ve been reading that there’s a lot of crime over there.
Hi! @Ivan Aldana
Some parts are definitely better than others! I would recommend going down there yourself if you have not already to explore parts that you may be more interested in. Or getting a real estate agent who can help you navigate with their knowledge.
Quote from @Ivan Aldana:
Hello everybody! Is anyone investing in the Cleveland, Ohio area? If so how is it? How is the crime? I’m just kind of skeptical of investing there because I’ve been reading that there’s a lot of crime over there.
Yes I invest in Cleveland! I put offers on 2 duplexes yesterday and am working on locking them up. Goal is to cash flow 250-300/door.
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Read the Ultimate Guide to Grading Cleveland Neighborhoods: https://www.biggerpockets.com/...
There is crime in every city. You can look at all the data online, but until you actually have driven the streets of an area, you'll never get the full picture. As a general rule of thumb, the West side of Cleveland has less crime than the East side, but each side has areas that are exceptions.
As stated already, crime happens in every big city. It's a matter of research and having someone on the ground in that city that will be honest with you and wants a long term relationship based on trust. I have investments in Cleveland and the suburbs and my difficulties have been minimal.
Quote from @Ivan Aldana:
Hello everybody! Is anyone investing in the Cleveland, Ohio area? If so how is it? How is the crime? I’m just kind of skeptical of investing there because I’ve been reading that there’s a lot of crime over there.
I help clients every week find deals in Cleveland, Cincinnati, and Columbus. It all seems to go street by street and neighborhood by neighborhood.
Quote from @Ivan Aldana:
Hello everybody! Is anyone investing in the Cleveland, Ohio area? If so how is it? How is the crime? I’m just kind of skeptical of investing there because I’ve been reading that there’s a lot of crime over there.
Ivan
I'll first acknowledge what other posters have mentioned-- Any city has crime and it is a good idea to take a trip there if you're considering investing there to see with your own eyes.
As for your question about how it is depends on what you're looking for. For me, I am concerned with increasing my cash flow and cash on cash return. After investing there for a year and a half, I get much more value than I did on the coasts. However, If I wanted big appreciation, I might pick another city. There are neighborhoods throughout the city that may give you better cash flow or price appreciation. But there are always tradeoffs.
Connect with solid people on the ground to assist with due diligence and run your underwriting assumptions by. In any event, you will have to take action in order to get great feedback. Until you actually purchase, everything is theoretical and may or may not apply to your situation.
All the best in your future investing wherever it may be!
Remi
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Quote from @Ivan Aldana:
Hello everybody! Is anyone investing in the Cleveland, Ohio area? If so how is it? How is the crime? I’m just kind of skeptical of investing there because I’ve been reading that there’s a lot of crime over there.
Crime will vary greatly across the various neighborhoods and cities in the Cleveland market. you'll want to check out The Ultimate Guide to Grading Cleveland Neighborhoods. It should provide you the info you're looking for.
Hi Ivan,
It looks like you've gotten a lot of good answers here so I won't offer any additional opinion as everyone is correct in what they've told you already. I do want to share this map that provides an overview of the types of calls received by the police in various parts of the city. This will not help you to understand the crime in Cleveland relative to other cities but it does add a little bit of objectivity to the discussion. Hope this is helpful, or at least of interest. Let me know if I can be of further assistance. Best of luck with your search.
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