Touring Cleveland OH

9 Replies

I would like to invest in cleveland OH, I will be taking a trip to Cleveland next month.

Need your help,

What areas should I check out for rental properties.

I am in love with SHAKER HEIGHTS.

Shaker heights became a area when the return is low for rentals... If yiu find something for flip it might be good.. 

For short term rental? Not sure if you knew you were on the Short Term Forum. We generally recommend doing vacation rentals in vacation areas. Like Branson. 

You're in the right place! Read through this forum for millions of dollars in education :) 

Originally posted by @Marc Rice :

@Alecia Santiago

West side is seeing the most appreciation. I’d recommend getting a local agent there who also owns investment property.

Appreciation is the icing on the cake and first is CF. East side have bettrr CF and has appreciated as well so it seems the sweet spot. 

 

What kind of properties are you looking for? A lot of people are still trying to buy high cash-flow duplexes for 60k, when those days are long gone. I mean, you can still buy them, but with the rehab needed you're often going to break even at best. There are bidding wars in Cleveland for good rental properties now, at least in the sub-100k markets. You can still buy solid SFR's and duplexes in the 100-150k range, but that's not why everyone comes here.

Originally posted by @Alecia Santiago :

I would like to invest in cleveland OH, I will be taking a trip to Cleveland next month.

Need your help,

What areas should I check out for rental properties.

I am in love with SHAKER HEIGHTS.

 Shaker Heights isn't really all that popular in regards to rental property investing. There are some cheaper properties in Shaker when compared to the rest of Shaker but they aren't all that cheap compared to surrounding communities. Plus the POS is brutal and the tax rate is sky high. I think you'll probably find better opportunities looking elsewhere. Give The Ultimate Guide to Grading Cleveland Neighborhoods a read for more insight into this market.

I manage a number of rental in Shaker Heights and my clients do very well with them.  The rents are fairly high in the city and the school district is strong.  There is POS which is another item to deal with but it also helps keep up the value of the neighborhood.  I think that a lot of local investors own in Shaker.  The areas are generally nicer the farther east you get in the city, west of Lee road is less desirable.  The Lee-Harvard area of Cleveland is nearby and while its not Shaker I think that it is another good area to be in.