Cleveland or Indianapolis

[Logan Masseth]

Hey I’m looking into two markets and I’m having a hard time deciding between them. Any advice?

I’m looking for something relatively turnkey that can cash flow strong. I don’t need appreciation right now. Looking to do long term rental as well.

[Dan M.]

Without becoming to analytical you should invest in the market that gives you the best return with the least amount of risk. 

[Nadeem Alamgir]

Hey Logan, Cleveland is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!

Turnkey single family are anywhere around 100k, and turnkey duplexes are anywhere around 150k.  

[Patrick Drury]

@Logan Masseth
The Cleveland market is great for investing in from out of state since it's landlord-friendly, has a low barrier of entry, and cash flows.

[Min Zhang]

For strong cash flow and long-term rentals, I would recommend Cleveland. I do have clients buy in those area, generally anywhere from 8-12% COC return. Let me know how can I help!

[Lauren Perry]

I chose Indianapolis for exactly the reasons you described. Over the past few years I've been pleasantly surprised by the appreciation also, though that was not the goal. I would suggest you consider how easily you'll be able to assemble a team to work in whichever city you choose. I've learned through experience that the "boots on the ground" will make or break your profitability. I began investing as a remote investor on the west coast and have since relocated to Indy to focus on building our portfolio and helping other investors so feel free to reach out if you'd like more info!

[Samuel Diouf]

Cleveland will be a great option for that cash flow. Only thing I would avoid is East Cleveland. The prices may be cheap, but the chances of seeing your ROI in the long term are low. If you're looking to talk to someone about the Cleveland market, Patrick Drury is very knowledgeable of the area. 

[Logan Masseth]

@everyone thank you all for the input! Always love getting more opinions than just my own.

[James Wise]

Quote from @Logan Masseth:

Hey I’m looking into two markets and I’m having a hard time deciding between them. Any advice?

I’m looking for something relatively turnkey that can cash flow strong. I don’t need appreciation right now. Looking to do long term rental as well.

 Both are pretty similar. What you buy in each of the markets will play a bigger role in which market you choose. if you want more info on the Cleveland market give The Ultimate Guide to Grading Cleveland Neighborhoods a read.

[Alex Goldovsky]

Quote from @Logan Masseth:

Hey I’m looking into two markets and I’m having a hard time deciding between them. Any advice?

I’m looking for something relatively turnkey that can cash flow strong. I don’t need appreciation right now. Looking to do long term rental as well.

I would strongly encourage you to talk to locals in both state (not necessarily licensed Real Estate professionals but someone who lives there locally or invested into these states.

From my perspective, I want to mention that. Am somewhere familiar with Cleveland market and can say only positive things about it. In my opinion, it represents a solid opportunity due to its affordable real estate, strong rental market, cash flow potential, landlord friendly laws and stable economy. But I would also advise you to research Indianapolis market prior to finalising your decision. Best of luck to you with your choice!