Was wondering if anyone knew any good cities / neighborhoods in the Cleveland area to invest in ? Also what are some common problems I should look out for with the properties over there ?
Just curious, is anyone willing to partner up on an investment property out there ?? I am very serious and dedicated in regards to real estate.
Hello Masood, I believe that some decent areas to invest in as far as cash flow could be the city of Euclid, the border area of Euclid and Cleveland (around the 185th Street area) where homes are in decent shape, as well as the upper Cleveland Heights and Garfield Heights area. These areas have the rents rated between $500-$900 which allows you to reach a larger pool because those rent prices here can be seen as affordable still. The more you get closer to the outer parts of these cities is where you begin to run into some homes and areas taht are not in great shape and could keep the value of your home down. Some of those areas can also attract undesirable tenants.
If you are looking for appreciation then cities such as University Heights/lower Cleveland Heights and Beachwood have been growing at great rates. Cash flow is not as high in some parts of these cities due to the prices of the homes but they may make better for longer term investments and allowing the value to grow.
Hopes this helps some!