Any info on the West Akron area?

Question

Hey BP community,

I have a family member who is wanting to sell me his portfolio of 14 SFH's, all in the West Akron area. Using Trulia, it looks like the crime rate is high and the schools are rated very low. But can anyone that is familiar with the area give me an idea of what it is like? Thanks!

Jack Smith · Answer

Right - that will happen!  There's some areas in west Akron that are just gorgeous... and there's some that aren't so much.  It can vary street by street.  They have been consolidating and rebuilding ALL the city schools over the past few years, which should help with the education levels.  The current mayor seems pretty good and aggressive in attracting and maintaining businesses as well.  I think the city is still a good investment area although we're all facing the decreasing population problems of the rest of the rust belt.

My local REIA (nonprofit) is hosting our free monthly out of state investors zoom call this Saturday, I'll post the meeting information on the proper thread.  I'm also looking to sell a few of my own properties in Akron that are about to become fully depreciated.  Contact me for any further information!

Jack Smith · Answer

It has great cashflow and now appreciation is kicking in!

Jack Smith · Answer

Hi Michael!  Sure - I’ll post a current link soon for August’s meeting, keep an eye out. My email is in my signature, feel free to reach out and I’ll forward information on what’s left.

Michael Wentzel · Answer

@Jack Smith

Hello Jack.

I'm purchasing in rental properties in and around Akron. You mentioned you might be selling some this year that have been fully depreciated. We are eager to add more units to our portfolio and might be a good buyer for you. We would also like to join in on one of your monthly online meetings for out-of-state investors. Could you send us more information in a PM or email?

Mike

Michael Magno · Answer

Got it.  It sounds eerily familiar to a deal a wholesaler brought to me in April.  14 SFH and 2 vacant lots, all in West Akron.  I grew up in West Akron, so I know the neighborhood well.

Justin Campbell · Answer

@Michael Magno It does not.

Michael Magno · Answer

Any chance this includes 2 vacant city lot's as well?

Justin Campbell · Answer

@Jack Smith Thanks for your feedback! He is asking $70,000 a house, 14 homes total. Looking at what's on the market now in that neighborhood I see some houses listed for $40,000 and some for $140,000. Conversation with his property manager forthcoming.

Any info on the West Akron area?

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