I don't, but I'm curious about any suggestions that pop up here!
I think Cleveland, Ohio is a great place to invest! The 2 SFR rentals I have on the west side of town I purchased for 20k, put 10-15k into them and they rent for $950 & $800. They are both in B- neighborhoods. There are many homes that can be bought in the 60-90k price range. In fact, almost every house I have listed in my profile was purchased in that price range, or less. It's not too difficult to find homes that cash flow here. Reach out to me if I can be of further assistance. Best of luck!
Akron area, as well!
Originally posted by @Lawrence Ratliff :
I hope you are all finding success. I now have a few SFR long term rentals in south Dallas. I have them on 15 year loans, positive cash flow on each one (not much but I am in it for retirement income), so I am loving my current strategy of keeping them forever.
I initially paid $88k, and the last one $117k, at this price increase it will tough to get to my goal of 10 houses.
As much as I don’t want to I am considering another market.
My perfect property is $60-$90k, with 20% down, rent covers mortgage, tax, insurance, and 10% prop mgt, with a minimum rent of $1,000. B- or better property/neighborhood.
With that said, any other markets you local experts could recommend that meet my criteria?
Thank you in advance.
You'll be able to hit those numbers in pretty much all the Midwestern turnkey markets. Cleveland, Indy & others like them.
You will be able to hit those numbers all day long and at night as well in Cleveland....I sure am with the three I have out there.
Wow you guys all seem to do great in Cleveland! Can you recommend someone to manage the properties out there?
Are you looking to buy something turnkey, or buy, fix & rent?
You might want to look into Huntsville, Alabama, And possibly some areas of Pittsburgh too. I'm doing a similar search.
I am in Pittsburgh and we have a really nice buy and hold market, if you ever have any questions feel free to reach out.
@Lawrence Ratliff Hi Lawrence, Pittsburgh is a great city for Investors as typically the buy-in is more conducive than other larger cities. Here in Pittsburgh new investments by Google, Apple, Facebook and Autodesk is a true testament to the growing infrastructure here. And many of these firms are hiring talent of all ages, but in the area of robotics, sciences and other technology fields, a lot of young urban professionals are coming from CMU and need places to live close to these businesses. Reach out to people in the city you are considering for advice on buying into, including what areas of the city are more inclined to generate positive income. Various neighborhoods are seeing a revitalization and the trick is to enter these areas before their growth explodes. Whatever city you choose, look for those that know that market well. And if investing out of state, ask them for referrals on property managers, lenders, contractors and other real estate professionals so you have them in place in that city, and feel comfortable investing OOS. Feel free to touch base if you want to talk further about Pittsburgh. I wish you much success in whatever market you ultimately choose....Gary
Great post and replies. I am it similar situation as op. Looking into cleveland, ks and Pittsburgh area. Wondering which areas in Pittsburgh are good got this type of cash flow. 80k or below price . Rents 1000-1200k. B centers.
I am curious too the research is a little overwhelming. Looked at Pittsburgh but there is so much variation from neighborhood to neighborhood, in terms of taxes etc Considering looking at Ohio. Great info here thanks for sharing
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