Investing in Shaker Heights / Buckeye Shaker -- Cleveland Ohio

6 Replies

Hello everyone! I am from Atlanta and have been investigating two neighborhoods for holding small multifamily (quads): Buckeye Shaker and Shaker Heights. This out-of-towner thinks the returns look good, rental market looks strong, and these neighborhoods have good access to transit, shops, etc.

I would love some advice from those who are currently investing in these neighborhoods, or from those who have chosen to stay away from these neighborhoods. Thanks for your insights!

Originally posted by @Joshua Feit :

Hello everyone! I am from Atlanta and have been investigating two neighborhoods for holding small multifamily (quads): Buckeye Shaker and Shaker Heights. This out-of-towner thinks the returns look good, rental market looks strong, and these neighborhoods have good access to transit, shops, etc.

I would love some advice from those who are currently investing in these neighborhoods, or from those who have chosen to stay away from these neighborhoods. Thanks for your insights!

 I would stick to Shaker Heights and avoid the Buckeye area. Shaker is much nicer. The only downside is the taxes in that area.

Good luck!

@Joshua Feit Hey I do a lot of investing on the east side, including Shaker. Totally depends what your goals are. If you want to net more per month you should either stick around Shaker Square, or look at some multifamily investments. Single families, even in nice areas in Shaker, don't necessarily cashflow because of the high taxes. Don't purchase south of Van aken, at least that's a rule you'll find out if you visit the city and make that mistake. I'd be happy to talk shop any time.

Definitely agree with Jared on this one.  Shaker Heights is very desirable, and a very nice area.  Buckeye Shaker, not so much.  If you are looking for higher rent, much better tenants and much higher taxes go with Shaker Heights.  If you are looking for better returns you would be better off in Buckeye, but make sure you investigate it first. 

@Joshua Feit   over the last 10 years or so I have never purchased a property in SH, inspectors are ridiculous, and taxes are to high. Stick with CH, MH, GH, lee Harvard, west side, Euclid  . 1.5/ 2% rules are to be had . 

Good luck 

Originally posted by @Jared Lichtin :

@Joshua Feit Hey I do a lot of investing on the east side, including Shaker. Totally depends what your goals are. If you want to net more per month you should either stick around Shaker Square, or look at some multifamily investments. Single families, even in nice areas in Shaker, don't necessarily cashflow because of the high taxes. Don't purchase south of Van aken, at least that's a rule you'll find out if you visit the city and make that mistake. I'd be happy to talk shop any time.

can you explain this sentence? I'm a potential investor in the area and have never heard this before