Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
I hear a lot of "it used to be nicer, but now i'm scared to get out of my car in Euclid". Are you comfortable with the tenant base? Are evictions common and if so how lengthy?
Michael P. l don’t know Euclid from a hole in the ground but I’d chalk this up to: “If you have to ask...”
This is governed by my experience looking at properties out of state. If my agent/PM ever says “We can go see it but you might not like it” it’s always been...well...not for me.
So if you don’t think the area is for you at a macro-level I don’t think it’s likely that you’ll be “pleasantly surprised” in-person.
It’s possibly but I wouldn’t say it’s likely...
If you stay north of Lakeshore the ratio of tenant vs owner occ falls dramatically. Amazon is coming and that is a great thing. I have tenant occupied colonial 3rd lot in from the Lake. When I bought it and rehabbed it every neighbor came up to ma and asked if I was selling it or renting it? They did NOT want a renter. They love our tenants! The secret to success is 'where' you're buying.
I hear what you are saying but there isn't much inventory north of Lakeshore....
Does anyone have thoughts on the Nicholas Ave and Zeman ave in Euclid? @Nicholas Novak@James Wise. Thanks in advance.
Nicholas is a solid C class neighborhood. I have some friends who just finished a rehab on Bruce Ave. just a few blocks over. $20K purchase. Appraised for $40K before they touched it. After $25K in rehab they are looking at an ARV of $70K to $80K. I spent 3 or 4 years over there managing a couple roadway projects between Babbitt, 222nd, and the Nicholas area. I have been actively looking to buy in that area over the last few months.
I'm not that familiar with Zeman but just passing through that area it seems to be very similar to Nicholas. This is just my opinion but it seems like the further east or north you go in Euclid the better the properties.
I am looking for some turnkey properties in cleveland/euclid. Went to your website and looked a bit. Should I reach out to you directly or through your site contact?
When looking for Turnkeys, don't forget to make sure they come from a provider. hey should all be owned first by the company and renovated by them. Then they sell it to you but stay on as the manager.
From the area. I would stay away from Euclid . It is only getting worse . Crime is terrible . Taxes are high and the city is a pain to work with . Not worth it especially long distance . Lake county is cheaper to work in .