Rental Property Investor · Cleveland, OH · Member since 2018 · 191 posts · 432 votes
8y
Lakewood taxs too high. rocky river is just too expensive. Fairview is ok. best returns are in Cleveland but boots on the ground are needed. much higher returns
Rental Property Investor · Cleveland, OH · Member since 2018 · 191 posts · 432 votes
8y
I'm a seasoned investor in the Cleveland area. Property Management is a big issue in this area. that's why i have my own property management company for my properties and my out of town partnering investor's
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
8y
My son rents 1/2 a duplex in Lakewood just across the river from Rocky River. It's hard to find a good deal in the area-- it is pretty hot, hip, and young. The rental housing stock consists of many old up/down duplexes. The closer you get to Cleveland heading east toward 117th, the cheaper things get and crime is generally perceived to be higher. Water is very expensive in the city of Lakewood. I would buy in Rocky River or Lakewood if I could find a decent deal. I also spent a fair amount of time at Fairview hospital a few years back-- the Kamms Corner/West Park area looks like it would be a super rental area too-- if I lived in the Cleveland market I'd be willing/looking to buy there.
Rental Property Investor · Cleveland, OH · Member since 2018 · 191 posts · 432 votes
8y
Lakewood taxs too high. rocky river is just too expensive. Fairview is ok. best returns are in Cleveland but boots on the ground are needed. much higher returns
Rental Property Investor · Pittsboro, NC · Member since 2016 · 97 posts · 85 votes
8y
@Matt B. Watch your tax rates in the Cleveland burbs. They are sky high AND I just received a stupid high reassessment from the county for my rental property there. BE SURE to ask about adjustments to taxes when you look at any property.
Anyone have any info i.e. rents, schools, crime, etc. ? Looking out of state and came across these areas as potential.
All are solid areas with minimal riff raff. The West end of Lakewood & Rocky River are fairly affluent with both boasting decently priced rental properties as well as $1M+ estates on the water.
Anyone have any info i.e. rents, schools, crime, etc. ? Looking out of state and came across these areas as potential.
What are you looking to do there? Buy and Hold? Flip? You may have a hard time renting our a property in Rocky River, it is pretty much all owner-occupied.
Have you tried looking at some of the other suburbs where it is more 50/50? Try looking at Euclid, South Euclid, Bedford, Garfield Heights, Parma, Parma Heights, Maple Heights, Cleveland Heights, Willowick, Eastlake, Wickliffe, and Mentor.
Blue Point, NY · Member since 2015 · 88 posts · 31 votes
8y
@Tom Ott @Jill F. @Frank Wolter @Caleb Heimsoth thanks for the responses, right now I’m looking at out of state buy and hold rental properties. Looking at this area, prices seem right, rents seem to be all over the place. But I’m in an area where $500k+ with 15k+ in taxes can be the low end so I’m trying to not be jaded by a lower prIce poInt.
Very much appreciate the feedback from everyone...
Rental Property Investor · Pittsboro, NC · Member since 2016 · 97 posts · 85 votes
8y
@Matt B. I received mine in the mail a week or so ago. They should take effect at the start of 2019 but not positive. They can be disputed for the first few months of the year, after that you are stuck with them.