Visiting Cleveland for a Week of Research
Good afternoon Cleveland REI professionals.
I flew into the city last night and I am staying at an Air BnB in Cleveland Heights. I am here to evaluate potential neighborhoods for a rental investment. I am looking to acquire a property with similar returns to one I purchased earlier this year (three unit brick rowhouse in Baltimore with purchase price of $135,000 and rents of $750/$750/$800; prior owner was behind on his bills and accepted my offer after initially listing for $175,000).
The three questions that I have for all of you:
1. Which neighborhoods do you all see as up and coming, i.e. potentially moving from C-class to B-class over the next few years? I am looking at the Ultimate Real Estate Guide provided by James Wise as a base line and I am curious about how other investors perceive the B and C neighborhoods around here.
2. I prefer brick triplexes to get a low per unit cost and lower maintenance costs compared to siding. Are there any particular neighborhoods that have a lot of these kinds of properties?
3. Which real estate agents do you see as most helpful for an out of state investor?
Thank you all for taking the time to discuss these questions.