I have very little real estate experience. But I can figure out the numbers on real estate investments.
Since I have little experience I am thinking turnkey to start.
Been reading a lot about Cleveland. Compared many other markets .... TX, FL etc....
Cleveland seems to have some potential for appreciation.
Seems a lot of revitalization going on.
Good cash flow probably more expenses than the Southeast or TX.
We are coming into a down cycle in real estate I think. Those buying for appreciation may not be so happy in a year or two.
Or would you stay away from Cleveland as an out of state investor ? The turnkey company is rock solid BTW.
There is definitely a lot of revitalization going on in Cleveland. Not everywhere though. Make sure you understand the type of neighborhood you are looking at when you make a purchase. You can use The Ultimate Guide to Grading Cleveland Neighborhoods to assist in this. There is still a lot of blight around town.
@Bruce Harding There's actually a great thread dedicated to out of state investors discussion Cleveland. Take some time to read thru it and I'm sure you'll find some good nuggets that will be relevant to what you're considering...
I have very little real estate experience. But I can figure out the numbers on real estate investments.
Since I have little experience I am thinking turnkey to start.
Been reading a lot about Cleveland. Compared many other markets .... TX, FL etc....
Cleveland seems to have some potential for appreciation.
Seems a lot of revitalization going on.
Good cash flow probably more expenses than the Southeast or TX.
We are coming into a down cycle in real estate I think. Those buying for appreciation may not be so happy in a year or two.
Or would you stay away from Cleveland as an out of state investor ? The turnkey company is rock solid BTW.
Cleveland is great for OOS investing. It is pretty good for cashflow. I would mainly stick to the suburbs where there are lower risks and higher rents. The entry point may be a bit higher, but it is worth it.
@Bruce Harding As an OOS investor that invests in Cleveland I agree that you can get good cashflow. However I wouldn't bet TOO much on appreciation. With interest rates rising along with with the coming down cycle I would not buy for appreciation.
In terms of turnkey companies, from what I have seen, their properties are overpriced. You can get a better return on your money buying your own house, fixing it up and placing a solid PM to run the property.
I have very little real estate experience. But I can figure out the numbers on real estate investments.
Since I have little experience I am thinking turnkey to start.
Been reading a lot about Cleveland. Compared many other markets .... TX, FL etc....
Cleveland seems to have some potential for appreciation.
Seems a lot of revitalization going on.
Good cash flow probably more expenses than the Southeast or TX.
We are coming into a down cycle in real estate I think. Those buying for appreciation may not be so happy in a year or two.
Or would you stay away from Cleveland as an out of state investor ? The turnkey company is rock solid BTW.
There is definitely a lot of revitalization going on in Cleveland. Not everywhere though. Make sure you understand the type of neighborhood you are looking at when you make a purchase. You can use The Ultimate Guide to Grading Cleveland Neighborhoods to assist in this. There is still a lot of blight around town.
@Bruce Harding Say what you want about our sports teams, but our RE market for investors is phenomenal. Fantastic cost of entry, high rents, great stock.
Like @Amy Hu said, be careful, especially if you're out of state. You need too have a solid team on the ground who knows the city. You can cash flow in Cleveland but I wouldn't bank on appreciation.