Should I Buy and Hold in Akron, Ohio?

9 Replies

Hi BP,

I'm looking to invest with a friend of mine, who I've known for 12 years.  He lives in Akron, Ohio and does buy and hold.  I also do buy and hold, but I work with turnkey properties, but I want to get away from that to make higher cash flow.  My friend invests in C class properties in the zip code of 44310, that rent fast and I believe rents are good based on what I've learned from BP.

I'm looking to partner with my friend and start off small to build the business/iron out the quirks.  I'm sure many of you have horror stories about partnerships and all, but what I really want to know about is the Akron, Ohio area and the city prospects.

I saw that Akron, over the past 70 years, has decreased in population and the trend seems to continue.  To me, that doesn't sit well.  Is it on a turn-around?

Are there any Akron, or Ohio natives that can tell me about the city, where it's going, what the mayor and other politicians have planned, trends of the city, or really anything about it that would be useful to an out of state investor like myself?  I understand there's a large hospital and also UA there for jobs and student influx, but are there many other large companies that higher employees with decent pay/benefits?

Thanks for the discussion,


@Jesse Richardson   Hi Jesse, maybe introduce yourself and say hello to @Engelo Rumora who runs that company and is a big presence in Ohio. I'd llook up the podcast he did on BP and listen to it as well if I were you, I don't remember what number it was but it was pretty informational.

Travis Boyer


Thanks for the information and contact.  I'll listen to it if I haven't already; I'm listened to the first 87 episodes, plus the most recent 20, so I'm pretty far in.  ha ha.  Commute is much more enjoyable!


Originally posted by @Travis Boyer :

@Jesse Richardson   Hi Jesse, maybe introduce yourself and say hello to @Engelo Rumora who runs that company and is a big presence in Ohio. I'd llook up the podcast he did on BP and listen to it as well if I were you, I don't remember what number it was but it was pretty informational.

Travis Boyer

Thanks for the mention Travis,

Podcast 89 :)

Have a great day.

@Jesse Richardson Yes, the population of Akron, as well as Cleveland, has been declining for years. This doesn't mean that you can't make money in those markets though.

Long term is 44310 going to appreciate faster than inflation, no. If you make your desired return off of cash flow or value add alone, then go ahead. I would not bank on anything beyond that.

As far as the political aspects of Akron that you asked about, you can check the news for that. Long time mayor just resigned, his interim replacement had questionable physical contact with a coworker and resigned as well. So things are going to be shaky for a bit there. There are bright spots in both Cleveland and Akron, but that doesn't mean broad returns and rising tides. Some areas will see improvement, but the general population of Akron proper will probably not see palpable improvements beyond inflation.

@Jesse Richardson

It sounds like you have a solid setup to invest in that area.  Always tough to say, but the things I always think about are  who am I working with and would they own property or do they own property in those areas?  Make sure it is someone you trust and feel comfortable with.  It really all comes down to the people in the end!  

I'm guessing in Akron you can get in cheap on a C property. What's the return after expenses? There may be a bit more risk but I'm guessing more return than other markets.

@Jesse Richardson

I would consider looking into the Cleveland area. Rent is a bit higher so your COC would be higher. Look into 44109 area. Tons of potential in the area. It is a C neighborhood like Akron, but brings in higher rent. Good luck to you and you partner!

Welcome Jesse,

I currently invest in the 44310 zip code, so take this advice with a grain of salt, I am your competition after all! 

It is as you describe, C class homes with good cash flows. However, as mentioned in many, many, many podcasts including the latest, the area requires intimate knowledge of it, as the values and rents change from block to block. Literally, a 1000 block 3/2 can rent for 25% less than a 900 block 3/2 and vice versa. My wife grew up here and her mother still lives in the zip after 30 years, so I have a leg up. 

There are roughly 14 zip codes in Akron and about 1/2 of them are what I would consider acceptable. The flip side to that statement is that my neighbor owns 20 units in Akron zip codes I wouldn't touch and she does quite well too. The bottom line is, how confident are you with the boots on the ground? I have seen a recent jump in purchase prices which is also a bit concerning as the rents are going to stay put for a while IMO. I wouldn't touch a flip there, not enough profit and too long to turn over. Good luck, and don't out bid me!

Thanks everyone for the information.  I freaking love this community!! 

@naterichards, I appreciate your honesty as a potential competition.  I feel confident about my friend who is operating there; he also grew up in the neighborhood and only left for a few years due to military service.  He is back and understands the marketplace.  I trust his opinion as well as that of his brothers.  That's the main thing after all right?  Relationships and trust that is. 

What I know from my friend is that he invests in C class properties, has normal tenant problems like late rents, etc.  But he's doing it and doing it well enough for me to consider it.

Anyway, thanks for all the discussion.


Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here