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Updated over 2 years ago,

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15
Votes |
18
Posts

Investing in cleveland ohio

Account Closed
Posted

Hi

I'm a beginner level real estate investor and have one investment property. I live in Illinois and looking to buying a multi family in Cleveland, OH. I also plan to hire a property management company to rent my property and manage it. Since I have never invested out of state, I'm here overthinking everything. My biggest concern is the crime rate in Cleveland area. I know there are graded neighborhoods. But the good neighborhoods are pricey of course.  I want to start small since it would be my first out of state property. Can somebody please give me peace of mind on this? Has anybody bought properties in the bad areas in Cleveland where its much cheaper? How has the experience been? I want to have as much cash flow as I can by buying a cheaper property. Since I wont be living in the property or managing it, would it be wise to invest in a property in a bad neighborhood with crime? Would this have an impact on tenant quality or rent collection? . Thanks for any advice/insights.

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