Turnkey SFR in Cincinnati?

Question

Hi, I'm looking to invest in some SFR rentals in the Midwest.  Can anyone help comment or advise any or all of these questions I've had?  Thank you in advance!

1) I've looked into Cleveland, Indianapolis.  Are there any particular pros/cons of Cincinnati over the previous two mentioned?  Cleveland seems to be the most depressed of the three.

2) What price point for strong blue collar SFR rentals, safe areas, and decent schools?  What would the rent range in these areas?

3) Which neighborhoods should I consider?

Rodney Kuhl · Answer

@Aaron Chan I can't speak to the other two, but Indianapolis is a great rental market. Really depends on what you are looking for exactly, but you can find properties in the $40-60k range that will rent for $650-850 range for sure. Sounds pretty similar to what @James Wise said above about Cleveland, so I guess it will just depend on what you are looking for and where you feel more comfortable.

James Wise · Answer

@Aaron Chan welcome to the site.

I cannot really speak about the other 2 but can provide some insight about Cleveland.

You will want to avoid the East side of the city (if investing in Cleveland proper) I prefer an area called Old Brooklyn & West blvd.

Your looking at spending $35-$50k for $650-$800 in rent.

For an even safer play look to the suburbs. $60-70k for $850-$1000 in rents. I prefer Parma & Brooklyn.

Ben Leybovich · Answer

OK - I would not do a turn-key rental if it was the last trick available to me.  But, having said that, Indianapolis stands out head and shoulders.  I've looked at a number of larger projects there, but have lost out to folks paying much more than what I deem prudent.  But, the market is interesting in Indianapolis

Isaac Rowe · Answer

@Aaron Chan I have seen people primarily buying in the suburbs in the Cleveland area.  Lots of opportunity good cashflow numbers without having to be in War-Zone areas.

I second @James Wise that Parma and Brooklyn have lots of opportunity.  I have also seen/worked with people buying in a lot of the heights areas.  Cleveland/Bedford/Garfield to name a few, and even out into Lorain County in Lorain and Elyria.

It all depends on what your goals are and what types of properties your comfortable owning.

Turnkey SFR in Cincinnati?

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