East Side Cleveland Investors

6 Replies

Looking for some feedback on your East Side Cleveland rental business experience? Profitable or a loss? List some pros vs. cons of owning an East Side rental. Feel free to share stories.

Originally posted by @Vasyl Magura :

Looking for some feedback on your East Side Cleveland rental business experience? Profitable or a loss? List some pros vs. cons of owning an East Side rental. Feel free to share stories.

 Are we talking Eastside of the city or the suburbs? Suburbs are great....the city...not so much. 

You can see decent returns in the city near University Circle, Glenville, and North Collinwood. That is just about the only areas I would look at, and even then you need to be picky.

@Tom Ott Thank you for the reply. University Circle is not run down & not that cheap. Looking at run down areas that may have potential to come up in the future. St. Clair,  Buckeye, Hough, Slavic Village, Kinsman. 

Originally posted by @Vasyl Magura :

Looking for some feedback on your East Side Cleveland rental business experience? Profitable or a loss? List some pros vs. cons of owning an East Side rental. Feel free to share stories.

 East side suburbs like Euclid, S Euclid, Cleveland Heights and Garfield Heights are great as are the west side suburbs like Parma, Parma Heights, Lakewood and Berea. They are all pretty similar. Main difference is the majority of the east side burbs have a point of sale inspection and the majority out the west side suburbs outside of Lakewood do not. 

Where you run into trouble is East side neighborhoods in the city of Cleveland itself. Those my friends are some BRUTAL neighborhoods. Those should only be considered by seasoned investors who know what they are doing. There are some pretty rough west side neighborhoods in Cleveland that are not quite as brutal, but still difficult none the less. I created The Ultimate Guide to Grading Cleveland Neighborhoods for investors to get an idea on what types of houses and tenant bases they can expect when investing in the varying neighborhoods in the Cleveland area. Without some on the ground knowledge those really low prices in some of the neighborhoods can really play some tricks on those "out of state eyes."

My experience on the east side has been great. But I'm sure the many people who have lost money there won't be so eager to brag about it!

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