Cleveland and the Marketplace

[Dan D.]

I review the marketplace here a lot to evaluate deals and see what the market is doing.  I have noticed that a lot of the wholesalers, turnkey providers and brokerages are working the Cleveland market.

Is there anything special happening in this particular market?  Or is it just a great place to invest?  What about over-saturation?  

Thoughts?

[Matthew King]

@Dan D. In my opinion you have several factors that is attributing to Cleveland entering the national limelight of RE investing. 

Stability: good cash flow without rental volitility. The region is a hard working, blue collar area, (think lots of renters).  We typically don't experience huge market upswings or downswings, we experience a small level of growth annually which can be protection from major market corrections other areas experience. 

Good press. World class medical facilities, 2016 Republician National Convention, Award winning chefs and eateries, a great basketball player returning home to win a championship and a Midwest City center redeveloping its lakefront and downtown to mixed use, apartments and retail are all putting Cleveland back on the map. 

ROI: Cap rates are traditionally double digits here. Better than those in Florida, California, New York and most others.

Location: Easy International Airport to fly in and fly out of with less than a 4 hour flight, grab a taxi and a 20 minute ride takes you to your asset. Quality hotels, restaurants, sports teams and nightlife, because not every trip is all business and you need to enjoy time unwinding. 

Long Term growth: Area Industries are growing, out of state investing continuing, downtown population growth and hopefully one sport championship (all we ask for is one, Clevelanders know what I am saying here) will ensure Cleveland is on the forefront of Midwestern growth for years to come.