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Updated about 2 years ago on . Most recent reply
Price Drops in Cleveland
Hello,
I'm looking to invest in multifamily properties in Cleveland for around 100k. Cash flow seems amazing, however, I am seeing some properties that have dropped in value over the last couple of years. I'm looking to avoid paying for a property that will go down in value! Any insights?
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Quote from @Michael Cotton:
Hello,
I'm looking to invest in multifamily properties in Cleveland for around 100k. Cash flow seems amazing, however, I am seeing some properties that have dropped in value over the last couple of years. I'm looking to avoid paying for a property that will go down in value! Any insights?
Values in the Cleveland area went up every year for the last 10-11 years. You only see values dropping in Cleveland in the last yr or so because we are currently experiencing a nationwide market correction, mostly due to mortgage rate increases.