Relocated to North Eastern Ohio

15 Replies

Hello BP, 

My Family and I just got relocated to the Geneva area for work and are interested in the market in this area. Does anyone have any advice about areas around here such as Mentor, Madison, Painesville, Geneva, Ashtabula? 

We are interested in trying our hand at a fix and flip and would love to meet others investing in real estate in the area.

Thanks BP! 

Kylee Gaona

Kylee,

Mentor is a great neighborhood, but deals tend to be rare, not that they can't be found, which may be better for a flip. I am relatively new to investing, but from my research Painesville and Madison are where the deals are, though I look more for BRRRR strategy vs flip.

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Hi @Kylee Gaona

I own 8 apartment complexes (82 front doors) in Painesville and one apartment complex and 4 single family (16 front doors) in Euclid.  Let me know if you have any questions about investing in those areas.

Swanny

@Glenn Gierman - Mentor appeared to me to be up and coming and Painesville seemed to have lots of multi-unit and non-owner housing. Thank you for the tips. I am interested in BRRRR as well but haven't ever had experience with it. My dad does them regularly in the Miami area but I would be interested to give it a try sometime!

Kylee Gaona

@Michael Swan , That's a good count! I will be in touch. You must know a thing or two about property management companies in the area.   Thanks for reaching out Swanny!

Originally posted by @Kylee Gaona :

Hello BP, 

My Family and I just got relocated to the Geneva area for work and are interested in the market in this area. Does anyone have any advice about areas around here such as Mentor, Madison, Painesville, Geneva, Ashtabula? Also, does anyone have any referrals for investment savvy real estate agents and good contractors east of Cleveland? 

We are interested in trying our hand at a fix and flip and would love to meet others investing in real estate in the area.

Thanks BP! 

Kylee Gaona

 Mentor is a very nice community. Painesville is a mix between rural & incredibly expensive neighborhoods. Madison if I recall is mostly rural. Geneva on the lake is a good time & Ashtabula is so damn far away I've only been there once & don't remember much about it.

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

@Glenn Gierman - Thanks! I will give you a referral when we find one!

@James Wise - Mentor seems to be where most people go to get to all the bigger shops. We are currently in a temporary rental in Geneva on the Lake but are closing on a house in Austinburg next month. Thanks for the rundown on the nearby areas, I appreciate it. 

Painesville is okay in some southern areas or right near Lake Erie College. But there are some bad areas there that could be considered a C-. Near the Painesville exit off of RT 2 you can usually find some SFRs for 30k, which tells you something (not good). 

Mentor, Willoughby, Eastlake are all good. Mentor is higher class (especially southern) and homes go fast there when they are in the Mentor school district. I cant comment on much west of Painesville, but I do know that Perry is going through some turmoil with the power plant on the verge of closing so that area may become a bit more depressed for a few years if the plant closes and 700 jobs disappear

@Jeff Brower - That's really good to know, sounds like I will have to go drive around Painesville and really check out the different neighborhoods. I wasn't aware of the power plant shutting down in Perry but that would be a good deterrent for buying there right now. I appreciate all the information you provided, very thorough and helpful! 

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Originally posted by @Jeff Brower :

Painesville is okay in some southern areas or right near Lake Erie College. But there are some bad areas there that could be considered a C-. Near the Painesville exit off of RT 2 you can usually find some SFRs for 30k, which tells you something (not good). 

Mentor, Willoughby, Eastlake are all good. Mentor is higher class (especially southern) and homes go fast there when they are in the Mentor school district. I cant comment on much west of Painesville, but I do know that Perry is going through some turmoil with the power plant on the verge of closing so that area may become a bit more depressed for a few years if the plant closes and 700 jobs disappear. I passed on a duplex out there for that reason. If I can answer any specific questions you may have please don't hesitate to reach out.

thanks for the info. Im interested in Painsville

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