"Boots on the ground in cleveland" Highly interest in investing in Cleveland market. In need of help navigating a new area.

23 Replies

Terrell Brown, from Philadelphia looking to purchase two turn-key multifamily properties in Cleveland. In search of people to network with in Cleveland. In search of realtor and property manager with investing experience. Point me in the right direction if you can!!!!

@Terrell Brown  

@James Wise  is very active in Cleveland. I have never worked with him directly but he seems very knowledgeable about that market and has a sterling reputation here on Bigger Pockets.

Jaclyn Bays thanx for directing me to @james wise. Do you have his contact info? Are you from Cleveland or investing there?

@Joe Fairless less I'm focused on multi-family properties. Here in Philly I would have to spend anywhere from 80-125k for a turn-key property that brings a nice return from 600-800 profit a month. Being an investor , needing 20-25% down, your likely going to come out of pocket 20-25k each deal. From what I"ve seen in Cleveland , I could get the same return on a duplex at 40-50k. At half the cost, compared to Philly, that allows me to buy two properties in Cleveland opposed to buying one in Philly. So that's what got me started looking in Cleveland. After research job market etc. I"ve come to the conclusion , that the cost of living is just lower in ohio.

@Terrell Brown Funny enough somebody just mentioned investing in Cleveland to me yesterday.

@Greg Wake I think I"ve seen that name before (price wake) are you from Philly ? 

I've been keeping an eye on Cleveland as well. I think the diverse economy, on paper, seems to be on the rise albeit slowly. The amount of hotels going up in the downtown area is great. These major companies have deeper pockets than we do for researching a marketplace and are making a bet on something. Let's not forget the Cleveland clinic either. I think you may be on to something @?Terrell Brown

@Jon Lafferty You make some good points. We are definitely on the same page. I"ve noticed the recent downtown development as well. With every development comes more jobs. Follow the money, and if the numbers make sense as well, seems like a sure bet.

Originally posted by @Terrell Brown :

Terrell Brown, from Philadelphia looking to purchase two turn-key multifamily properties in Cleveland. In search of people to network with in Cleveland. In search of realtor and property manager with investing experience. Point me in the right direction if you can!!!!

There are great things happening all around Ohio.

One of the best cashflow markets in the US.

Thanks and have a great day.

What part of Cleveland are you looking to invest in?

Joe Gore

I am curious as well what makes Cleveland a superior market to any other in Ohio.  In the secondary market you've got Columbus and Cincinnati consider.  And in tertiary Toledo, Massillon, Lima, etc.

Why Cleveland @Terrell Brown  

There is a lot of FSBO in the Cleveland area.

My 2cents,

Joe Gore

@Ben Leybovich Cleveland is not #1 on my list just yet. Cleveland is just the first place in Ohio, That I have done enough research on to say the numbers make sense. I found a few good deals in Youngstown , but I can't determine what the job market is like and the small population scares me. One step at a time , but I definitely will do my research on those other cities you mentioned. If I'm presented with a deal that fits my investment criteria, I have no problem checking it out. @Joe Gore I'm thinking of staying on the west side of Cleveland. So far I have heard a lot of bad things about east Cleveland.

I ran a scan, and I see there are over 30 in the Lakewood and Cleveland height's area that is FSBO.

My 2cents,

Joe Gore

@Terrell Brown , the east side of the metro area is actually the wealthy and educated part of town. Check out these maps, and look for the dark triangle on the east half of the county:

Median income:


Population holding doctoral degrees:


Much confusion abounds because the west part of the City of Cleveland is "sometimes tolerable" while the east part is "all-around really bad." Add in that there's actually a separate city called East Cleveland which is literally hell on earth, and out-of-staters get really stumped. The eastern suburbs are fantastic, however.

@Christian Carson I'm glad you pointed that out. I researched a lot of your post and I remember you said you wouldn't touch east side of Cleveland with a ten foot pole. I quickly took note of that. That led me to more research of the east side of Cleveland and everyone had something bad to say about the east side. Thanks for clarity. @Joe Gore thanks for the info. Where can I find a tour guide?

Hey everyone,

We are in Cleveland today so if anyone wants to catch up for a quick coffee feel free to give me a call on 816 372 5334

Thanks and have a great day.

I don't want to speak for @Terrell Brown but i know I began my search into other markets because my local NJ and Philly markets had a much greater barrier to entry. At my initial glance it seems like there may be a greater value for an equal cash on cash ROI in the Cleveland market as opposed to Philadelphia. What this means to me is I can get an x% CoC ROI for $35000 in Cleveland as opposed to $60000 in Philly. Hopefully that all made sense :)

Big shout out to @Ryan Kinley for pointing me in the right direction. Great guy, that knows the area of Cleveland very well.

Does anyone have any other thoughts on the secondary market of Columbus, OH?  Success, pitfalls?  Thanks so much!

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