All Forum Posts by: Evelyn Allasi

@Evelyn Allasi I understand your logic when considering the area, but the University created a lot of housing over the past decade that put pressure on people with houses that they had marketed to students. A lot of the housing stock in that area is quite old, and you already reviewed the data about the sub-market's issues. People who weren't able to find student tenants when the new supply came online had to rent to area residents, which may not have fit their model.

Also, the University had some major challenges during the Pandemic, reducing their available programs as enrollment dropped.

Anecdotally, I have a friend who bought two adjacent houses to turn into University rentals. They were right by the stadium, but were in rough shape. After looking at the competition and the demand in the market we ultimately sold them to an out of state investor with seller financing. She improved the houses and now indicates that she wants to sell them off, as the idea was more promising than the investment.

Some of the owners in that area own a dozen or more houses and occasionally sell them off in packages. The age of the housing stock coupled with the inexperience of a student tenant might make it difficult to keep up with maintenance without a strong property manager.

Thank you so much for all this information. Súper helpful. Now what areas in Akron do you recommend for investing? Good year heights ? West Akron? Cuyahoga falls?

0 Votes

Akron, Ohio

0 Votes

Akron, Ohio

Quote from @Zeke Liston:

Quote from @Evelyn Allasi:

Hi, I am new here, new in RE in general, and I have a question, if there is anyone local from Akron I would highly appreciate the input. I am in FL looking to buy an investment property in Akron, the University area called my attention because of the need for housing for the students but in the neighborhoodscout crime website it tells me that area is so high in crime that makes me think twice about investing there. The fact that I am out of state makes it even more difficult because I am a single mom of 2 toddlers so I can’t go there physically before making a decision. I got a RE agent (referred by the lender) but she doesn’t seem Knowledgeable at all. So I need to find another one but in the meantime would like opinions, ideas. I basically wanna know the rental occupancy rate in that area.

Hey Evelyn, you'll find some good cashflow in Akron. My sister-in-law went to Akron Law School. The area can be dicey in some areas, but overall, it is pretty nice. Is there a reason you were specifically interested in that area?

Affordability of their homes basically, landlord friendly, and closeness to Cleveland. So you think university of Akron area is a good possibility?

1 Vote

Akron, Ohio

Quote from @Melanie P.:

There are plenty of affordable investment properties in Florida. Why are you shopping for property in Akron, Ohio? And if you're truly serious about purchasing real estate in Ohio it would be a good idea to take a trip out there to learn the cities and neighborhoods, visit them at night, see if it's a good fit for you

I guess you didn’t read the part where I said I couldn’t travel, can you please enlighten me where in Florida can you find affordable homes as in Akron? Plus property insurance

is high as the moon. Anyway thank you for taking the time in giving your opinion.

0 Votes

Akron, Ohio

Quote from @Account Closed:

Hi, yes, I agree as an Ohio Realtor it is a great place to invest in real estate. If you have any questions, please feel free to contact me. I am here to assist you with ALL your real estate needs. Thanks!

Regina Blake-Ohio Realtor

216-395-7171

Thanks a lot. I will definitely be in contact with you.

0 Votes

Akron, Ohio

3 Votes

Akron, Ohio

All Forum Posts by: Evelyn Allasi

Evelyn Allasi has started 1 posts and replied 6 times.

Post: Is investing in University area of Akron a good idea?

Post: Is investing in University area of Akron a good idea?

Post: Is investing in University area of Akron a good idea?

Post: Is investing in University area of Akron a good idea?

Post: Is investing in University area of Akron a good idea?

Post: Is investing in University area of Akron a good idea?