Info on Cleveland Ohio investment Market.

Wholesaler · Macungie, PA · Member since 2015 · 32 posts · 28 votes

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

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Vadim F.

Investor · Member since 2020 · 337 posts · 213 votes

Quote from @John Liberati:

Cleveland is the #2 real estate market in the country that should explain it all in short. Regarding areas, West Side of Cleveland is the safer investment but your net return will be minimal. East Side has rougher pockets but your reward is much higher.

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Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Cleveland is the #2 real estate market in the country that should explain it all in short. Regarding areas, West Side of Cleveland is the safer investment but your net return will be minimal. East Side has rougher pockets but your reward is much higher.
4 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Also, there are lots of "grade" maps that can be provided. They are good idea of neighborhoods, but whats most important is having a great PMC in place. If they have experience managing in those areas, the risk will be minimized.
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John Liberati
OP
Wholesaler · Macungie, PA · Member since 2015 · 32 posts · 28 votes
3y
Do you know what a typical cap rate is on the west side/ or cash on cash return usually expected in those area. If you know. Thank you!
1 Reply
Vadim F.
Investor · Member since 2020 · 337 posts · 213 votes
3y
Quote from @John Liberati:

Do you know what a typical cap rate is on the west side/ or cash on cash return usually expected in those area. If you know. Thank you!
It is possible to get 10 net caps, but Its hard to say without knowing how you are acquiring the property, cash or financing? Is it off-market or mls? Does it already have tenants in place? Does it need a rehab? What zip code is it located in? Lots of variables.
1 Reply
Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Yes!
[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Holla!
2 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

If you are cash, 10 % net caps or better are to be had. All mine have always been 20%+++ Just picked up a 7 unit yesterday. net cap about 20% .its all about knowledge and your network.
1 Reply
Min ZhangBusiness Member
Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Hey John I hope everything is well!

Cleveland is known for its promising financial opportunities, The Cleveland market is known for its potential cash flow prospects attracting investors who seeks rental income. Cleveland has seen also some growth in property values and development in the recent years.

But I suggest that Columbus is also an ideal choice. Along with continuing to offer 1% deals, Columbus is a growing city that is also attracting to several prominent companies, leading to a wealth of job opportunities.
Personally, I focus my investment endeavors in the Columbus area, and I have a reliable network of property managers, general contractors, lenders, and more, whom I highly recommend.

Let me know if you would like to know more about this so we can discuss over. :) send me a DM anytime.
[email protected]614-412-2912
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Steven Foster Wilson
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
3y
Hey John, I have brokered a lot of deals recently in Cleveland for the cash flow, the cash flow is king up there, however appreciation is lacking and seems to be along with the US national average. Whereas cities like Columbus have some cash flow, but tons of appreciation! If you need to find a good neighborhood to start on, let's connect and discuss how I can help you out.
2 Reply
Heidi Thompson
New to Real Estate · Orlando, FL · Member since 2023 · 13 posts · 8 votes
3y
Thank you for asking this question. I am very new to the investment world, but in the little time I have spent in the BP community, I have continuously come across posts about Ohio being a great place to invest in for cashflow. I see you're in PA, is this the first time you are investing out of state? I live in Orlando, and can't seem to find cashflow near me, maybe I should consider Ohio like you =)
1 Reply
Aj Parikh
Rental Property Investor · Centreville, VA · Member since 2019 · 1k+ posts · 799 votes
3y
Hi John, I own quite a few properties in Cleveland and would love to connect and help out.
1 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Nothing I am not aware of in the Cleveland markets. If you are a cash buyer, 10% + net cap rates are attainable. Where to buy, almost everywhere. However only if you have a team in place
Good luck
0 Reply
John Liberati
OP
Wholesaler · Macungie, PA · Member since 2015 · 32 posts · 28 votes
3y
Quote from @Heidi Thompson:

Thank you for asking this question. I am very new to the investment world, but in the little time I have spent in the BP community, I have continuously come across posts about Ohio being a great place to invest in for cashflow. I see you're in PA, is this the first time you are investing out of state? I live in Orlando, and can't seem to find cashflow near me, maybe I should consider Ohio like you

Hi Heidi sorry it took soo long for me to respond. But yes, It's the first time investing out of State. I've been investing Full time for the last 30 years, but never out of state. Florida Is a tough market for cash flow. Pennsylvania you were able to find places to invest, after the 2020 it's been almost imposile to do.
2 Reply
David Leggett
Real Estate Broker · Cleveland, OH · Member since 2018 · 227 posts · 133 votes
3y
I already see you have done your due diligence when choosing which markets to invest in and you'll be very successful. I think the best thing an out of state investor can do when looking in this area is to connect with a Realtor / Broker who's an expert in investment real estate in that area, especially Cleveland, and understands each neighborhood and what areas to invest in and to stay away from. There are definitely good resources like grading maps on this subject on Biggerpockets, but the market has changed significantly in the last few years so the best thing is to contact a professional that can help cut your learning curve significantly. Looking forward to your great successes in this market!
1 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
3y
Quote from @Min Zhang:

Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Hey John I hope everything is well!

Cleveland is known for its promising financial opportunities, The Cleveland market is known for its potential cash flow prospects attracting investors who seeks rental income. Cleveland has seen also some growth in property values and development in the recent years.

But I suggest that Columbus is also an ideal choice. Along with continuing to offer 1% deals, Columbus is a growing city that is also attracting to several prominent companies, leading to a wealth of job opportunities.
Personally, I focus my investment endeavors in the Columbus area, and I have a reliable network of property managers, general contractors, lenders, and more, whom I highly recommend.

Let me know if you would like to know more about this so we can discuss over. :) send me a DM anytime.

I would concur on Columbus being a much better appreciation play. Thing about Columbus though, many investors on BP are looking for cheaper properties, hence they end up in Cleveland, Toledo, Akron, Canton and Youngstown.
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

Expert in all that is Cleveland, I buy and sell monthly, and have owned dozens
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Quote from @John Liberati:

Any one familiar with the cleveland market. I'm looking to buy properties in this market. If you know any information, like a,b,c,d areas and where there are. What the market caps are in this area and if theres any location that has a path of progress?

How many did you get ?
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