Being out of state, how do I determine if a neighborhood is a good one for my investment? I'm looking at Cleveland. Any advice for investing in Cleveland?
Being out of state, how do I determine if a neighborhood is a good one for my investment? I'm looking at Cleveland. Any advice for investing in Cleveland?
Hey Jordan, welcome to the site. I live in California, but I have been investing in the Cleveland area for years. I currently own 8 rental properties there.
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 rather than a broad-brush subjective approach. Cleveland and its suburbs have a huge range of quality when it comes to neighborhoods, and this can be one of the things that makes or breaks you. Feel free to add me as a connection and drop me a private message.
Ever heard "Money Talks" It's that simple. IF you're buying a home a $50,000 neighborhood don't think you'll get doctors, engineers as your tenants.
There's no secret sauce to real estate. Its location and price. Then the question is IF you cannot afford $100000 for a quality neighborhood can you put up with the issues a lower price neighborhood will bring you? Lower class tenants. More turn overs.