Neighborhood grading for out of State investors.

[Edward Hatcher]

Is there a good way of grading a neighborhood for buying long term rentals when you live out of state ? any websites or strategies would be a great help.

   thanks.

[James Wise]

Don't know of any national sites, nor what areas you are looking into.

The Midwest markets are were many from the west coast seem to be looking.

Here are some grades for Cleveland, Ohio neighborhoods.

[Edward Hatcher]

Thanks James your page is actually what got me thinking about it this morning and made me ask the question. 

[Aimee Sowards-Mounts]

Let me know if you're interested in the Columbus Ohio area to invest in. Very diverse price ranges, some of the best schools in the country, and still very affordable compared to many other US markets. I'm a real estate agent and also have access to many homes before the hit the market including REP properties unlisted yet. 

[Terry Hershberger]

@Aimee Sowards-Mounts, I currently invest in Ohio and am interested in Columbus!

[Terry Hershberger]

@James Wise, very nicely done!

[Aimee Sowards-Mounts]

Originally posted by @Terry Hershberger:

@Aimee Sowards-Mounts, I currently invest in Ohio and am interested in Columbus!

 Let's talk Terry. Where are you at in Ohio?  My email is [email protected]

[James Wise]

@Edward Hatcher

@Terry Hershberger

Thanks gentleman, glad I could help.

[Terry Hershberger]

@Aimee Sowards-Mounts, I emailed you,

[Edward Hatcher]

Thanks for all the replies and yes Aimee i like Columbus as well so we should talk, I'm interested in Multifamily up to 6 plex and i'm open to some SFR also.

[Miguel Teran]

Originally posted by @James Wise:

Don't know of any national sites, nor what areas you are looking into.

The Midwest markets are were many from the west coast seem to be looking.

Here are some grades for Cleveland, Ohio neighborhoods.

Do you have something like this for Columbus Ohio? 

[Art Mimnaugh]

@Miguel Teran I think @Brandon Sturgill has this for Columbus but not sure if he has updated from his older version.   With that said grading is very relative and really is an input into your goals, risk profiles, and investment strategy.

[James Wise]

Originally posted by @Miguel Teran:

Originally posted by @James Wise:

Don't know of any national sites, nor what areas you are looking into.

The Midwest markets are were many from the west coast seem to be looking.

Here are some grades for Cleveland, Ohio neighborhoods.

Do you have something like this for Columbus Ohio? 

 Not at the moment. Currently I have The Ultimate Guide to Grading Cleveland Neighborhoods as well as similar guides that you may want to look over for Kansas City, Missouri. & Birmingham, Alabama. Next ones I am going to produce will be for Toledo, Ohio and Memphis, Tennessee.

[George Pauley]

I'm in 4 different markets and have explored many others.  My experience is that neighborhood grading is a very imprecise activity.  I've seen it based on % of dwellers who rent vs own, median income levels versus surrounding area, crime levels, and my personal favorite... (we'd love to live there, my family is safe there, my family can go live with her mom while I live there, and I'd feel safer under the freeway overpass)

Anyway, when dealing out of state, I first focus on finding a competent property manager that I trust.  Then I ask them what neighborhoods I should be investing in.

[Lane Kawaoka]

@Edward Hatcher

Its best to build relationships with real passive investors who don't have a dog in the fight. Or use the general rule of downgrading whatever a marketer/broker/agent says. For example if they say its a B class property... in real life its going to be a C+ at best.

[Alex Rocha]

Quote from @James Wise:

Originally posted by @Miguel Teran:

Originally posted by @James Wise:

Don't know of any national sites, nor what areas you are looking into.

The Midwest markets are were many from the west coast seem to be looking.

Here are some grades for Cleveland, Ohio neighborhoods.

Do you have something like this for Columbus Ohio? 

 Not at the moment. Currently I have The Ultimate Guide to Grading Cleveland Neighborhoods as well as similar guides that you may want to look over for Kansas City, Missouri. & Birmingham, Alabama. Next ones I am going to produce will be for Toledo, Ohio and Memphis, Tennessee.

 Did you ever build out Memphis?

[James Wise]

Quote from @Alex Rocha:

Quote from @James Wise:

Originally posted by @Miguel Teran:

Originally posted by @James Wise:

Don't know of any national sites, nor what areas you are looking into.

The Midwest markets are were many from the west coast seem to be looking.

Here are some grades for Cleveland, Ohio neighborhoods.

Do you have something like this for Columbus Ohio? 

 Not at the moment. Currently I have The Ultimate Guide to Grading Cleveland Neighborhoods as well as similar guides that you may want to look over for Kansas City, Missouri. & Birmingham, Alabama. Next ones I am going to produce will be for Toledo, Ohio and Memphis, Tennessee.

 Did you ever build out Memphis?

 Not yet. Currently we're focusing heavily on Toledo, Ohio though. So you'll see tons of content on that market sooner than you will see a Guide for Memphis.

[Christopher Sandys]

Hi @James Wise,

I enjoyed looking at "The Ultimate Guide to Grading Cleveland Neighborhoods." There is something I do not understand.

Area Code 44106 - F?

This is the area code with John Hopkins University, several museums, and the Cleveland Clinic.  

I did a Google Streetview "drive" through this zip code, and it looks really sweet to me.

Was the F Grade a mistake?