Looking to invest in Akron, OH. Advice Needed!

[Rushil Gulati]

Hi all, I am looking to invest in Akron, OH. I am looking in the zipcode 44314 which is Kenmore. I had a few questions and would like to know from people around the area:

1. Akron has a decreasing population. Is this an issue with investing in the area? Are there plans for growth in future and any developments going on? Also, how does the appreciation looks like

2. What thoughts do people have on the zipcode I am looking at?

3. How is the rent for a 5bd 2 ba in the area?

TIA!

[Brendan Taylor]

1. Akron is not an appreciation play. Probably never will be. Population continues at a slow decline but the renter to homeowner ratios are good. My properties rent quickly.

2. The zip codes all depend on your strategy. Personally I am open to what people may consider more "fringe" or bad areas. Zip codes I invest in 44301, 44302, 44303, 44305, 44306, 44310, 44312, 44313, 44314, 44320. Akron, like most cities, can change from block to block so parts of some zip codes are no goes for me. Depending on your strategy some of these may or may not work for you.

3. Depends where this property is and condition. Typically I try to stick to 2-4 bedroom single families as larger homes do not bring much more in rent but more in repairs.