New cash investor looking in Cleveland area

[Sean Tenney]

Just started looking in the Cleveland area for properties in the $75k range.  Cash offers.  Looking to cashflow and wanting to pick anyone's brain about experiences in the area.  Or Akron and Canton.  Trying to get a feel for rentability, location, etc.  Would love to look to get a team together in the local area.  I'm an out of state guy down in FL and the market is just ridiculous here so trying to maximize $$$ for cashflow.  Appreciate any help!

[James Wise]

Quote from @Sean Tenney:

Just started looking in the Cleveland area for properties in the $75k range.  Cash offers.  Looking to cashflow and wanting to pick anyone's brain about experiences in the area.  Or Akron and Canton.  Trying to get a feel for rentability, location, etc.  Would love to look to get a team together in the local area.  I'm an out of state guy down in FL and the market is just ridiculous here so trying to maximize $$$ for cashflow.  Appreciate any help!

 We get tons of out of state investors coming into town looking for cashflow. You have to be cautious though. For every out of state investor coming here and killing it there is another who is losing a ton of money. 

Most of the problems arise from out of state investors buying in neighborhoods thinking they are getting a C grade asset only to find out they overpaid for an F grade asset.

I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods to help you avoid some of the big risks involved in investing out here from long distance.