Is Canton, OH a good city to invest in for rental investment?
Hello,
Is Canton City in Ohio a good investment opportunity? It's a bit south of Akron, and the house prices are within my budget. I did check the rental trends on rent.com but wanted to understand the rental income potential there from someone familiar with the area. Also, if you could suggest some contractors and RE management companies that operate in that area (based on your personal experience only please), that'd be even better.
Thanks!
Like most places, canton CAN be a good area to invest.
but it’s very area specific
Just 1 mile can separate a c+ neighborhood from a war zone
Do your homework on the neighborhoods
@Matt Slease said it. I grew up nearby and invest in Canton and I still struggle to discern where the good pockets are in Canton City.
Feel free to DM me if you would like to chat or review any potential properties
Quote from @Pawan Gupta:
Hello,
Is Canton City in Ohio a good investment opportunity? It's a bit south of Akron, and the house prices are within my budget. I did check the rental trends on rent.com but wanted to understand the rental income potential there from someone familiar with the area. Also, if you could suggest some contractors and RE management companies that operate in that area (based on your personal experience only please), that'd be even better.
Thanks!
I have had no one buy anything there, but I have been there a few times for weddings. Most of the areas are going to be C class but should be great for cash flow
Hello, I have been heavily involved in Canton for a number of years both flipping and Buy & Hold, and can provide any information you might be curious about. But watch if you're following the BRRRR method - many city houses are still under $100k value which is below the minimum required by many lenders. I have one now I'm stuck on which we rehabbed a year ago and will probably just sell as I can't get it refied without some outrageous terms.
We still have high demand in the area and rents have stabilized, maybe even dropped a tad of late. I self manage, but use ICON to help with leasing. They are a decent management company and a vendor member of Stark County REIA, but there are few others to check into as well. Contractors are very tough right now, as many are booked through the summer depending upon the scope of work you need done. Small jobs and handyman work are easier to deal with.
Good luck! There's deals still to be had around here!
Thank you everyone for your inputs. I did see some older posts (about couple years back) here with the same question. I saw that people suggested not to touch anything south of 25th or 30th st. and I could see the price difference as we move north.
@Jack Smith, thanks for the detailed response. I did see your comments on the previous posts as well and found them very informative.
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Quote from @Pawan Gupta:
Hello,
Is Canton City in Ohio a good investment opportunity? It's a bit south of Akron, and the house prices are within my budget. I did check the rental trends on rent.com but wanted to understand the rental income potential there from someone familiar with the area. Also, if you could suggest some contractors and RE management companies that operate in that area (based on your personal experience only please), that'd be even better.
Thank
Yes if you have a team and are cash,
@Sheena R Roth I'd like to chat! I'm looking at a couple property mgmt firms for a property I'm closing on the 20th. Would love to pick your brain and see if you've heard of and have any feedback.