Investing Cleveland Parama

4 Replies

I have a couple there too.  I second the assessment.  "Once you have seen 10 Parma houses, you have seen 10,000 Parma houses."  :)  They are all the same and really easy to comp.  Most have real hard wood floors under the carpet, too.

Edit: One other thing about Parma I like:  Even though they have a City Point-Of-Sale inspection, it's pretty much a drive-by exterior one, which means in my experience its things like cracked up driveways, or siding that is in need of repair.  In comparison with Lakewood and some other cities around Cleveland, where they send an inspector out to do a full inside-outside inspection resulting in a 100 point repair list.

I think the lower exit price points make flipping homes in Parma a rough business. The margins are very slim when your maximum exit price has a 1 in front of it. I prefer to flip homes in neighborhoods where the exit price is $250,000+.

Love Parma for rental investing & other ventures though. We have many Parma commercial & residential rental properties in our portfolio as well as a few other active businesses.

Originally posted by @Alex Bedar :

Hi

Who Invests and makes flips in Parma? 

 Parma is nice for buy and holds. It has a nice price level and you can get decent rents there. It also has lower taxes. I would say other cities that compare to it (in case you need to shop around) are Euclid, South Euclid, Bedford and Bedford Heights. Just to keep your options open.