Rental Property Investor · South Ozone park, NY · Member since 2014 · 47 posts · 10 votes
Hello fellow investor
I would like to know if it is a good idea to invest in Cleveland heights Ohio. Here is the deal I saw a house in Cleveland heights for $9500 but he said he owes about 30k in taxes and about 10k needed to getting it ready for rental. Is this a good deal.please help me analyze this deal
Hello fellow investor
I would like to know if it is a good idea to invest in Cleveland heights Ohio. Here is the deal I saw a house in Cleveland heights for $9500 but he said he owes about 30k in taxes and about 10k needed to getting it ready for rental. Is this a good deal.please help me analyze this deal
You'd be all into that investment for around $50k. So long as it's got at least 3 beds I'd imagine it'd rent for between $900-$1,100 depending on how nice you do it.
That is a hell of a deal. Good candidate for a BRRRR. Most singles in Cle Hts that are similar sell for around $75k.
Hello fellow investor
I would like to know if it is a good idea to invest in Cleveland heights Ohio. Here is the deal I saw a house in Cleveland heights for $9500 but he said he owes about 30k in taxes and about 10k needed to getting it ready for rental. Is this a good deal.please help me analyze this deal
You'd be all into that investment for around $50k. So long as it's got at least 3 beds I'd imagine it'd rent for between $900-$1,100 depending on how nice you do it.
That is a hell of a deal. Good candidate for a BRRRR. Most singles in Cle Hts that are similar sell for around $75k.
Hello fellow investor
I would like to know if it is a good idea to invest in Cleveland heights Ohio. Here is the deal I saw a house in Cleveland heights for $9500 but he said he owes about 30k in taxes and about 10k needed to getting it ready for rental. Is this a good deal.please help me analyze this deal
Deodat, good to see you looking into the Cleveland market! Cleveland Heights is a very solid rental market and just like James was saying a great candidate for a BRRRR. That being said, one word of advice is when looking into the Cleveland Heights market is to be aware of the school district. Cleveland Heights border East Cleveland and is a big no-no for investors. You can simply give the Cleveland Heights School District a call and ask about the address and they will let you know whether it lies in Cleveland Heights or not.
Wishing you the best of luck, please reach out if you have any other questions!
@Deodat Ramdat I’ve also recently been looking at the Cleveland area due to an acquaintance living and working as a realtor in the area. Despite the stats that people normally look at (pop. Growth, job growth, diversified job sector, etc). I’ve been seeing many people on BP saying that the rental market is still strong. Good luck in your endeavors there and I hope we can both find deals for whatever strategy we are employing!
@Deodat Ramdat I’ve also recently been looking at the Cleveland area due to an acquaintance living and working as a realtor in the area. Despite the stats that people normally look at (pop. Growth, job growth, diversified job sector, etc). I’ve been seeing many people on BP saying that the rental market is still strong. Good luck in your endeavors there and I hope we can both find deals for whatever strategy we are employing!
Very well said Garan. The rental market here in Cleveland is still VERY strong. We see that in a lot of areas properties are still below their peak market values back in 2006, 2007 prior to the recession. If you have any questions about the Cleveland area as an investor I would be more than happy to get on a call with you to discuss what 20/20 Real Estate does here in the Cleveland market!