Looking at Cleveland, Concerned About Buying In The Snowbelt

[Jeff G.]

I'm looking at Cleveland, OH and a bit farther south to Akron, OH for my first rentals. I'm primarily interested in multifamily rentals. My concern is, it looks like Cleveland is part of the Snowbelt. I've seen warnings in other BP posts to the effect, "no matter how good the cash flow looks on paper, if it's in the Snowbelt you will lose money."

What is the situation like on the ground? How badly am I likely to get burned by snow removal costs if I buy in Cleveland? Is Akron better in this regard?

[Nicole Heasley Beitenman]

We're pretty slammed with investors for an area where everyone is losing money.