Akron vs Canton vs Massillon

[Michael Wentzel]

We have a portfolio of properties in Colorado and we're looking to start buying properties in a second market in Ohio. My wife and I are both from Ohio, so we often end up back there for visits. We like the possibility for cash-flow properties and we like the Midwest. I was initially looking at Cleveland or Columbus. Both seem intriguing, but both are huge and might take a bit of time to get my mind around. So before I decided which one, I became distracted with this little group of markets in northeast Ohio...

Akron is smaller than Cleveland and bit farther south. Beyond that is Canton, which is smaller than Akron and a bit farther south. Finally you have Massillon which is a bit smaller still and a bit west of Canton. All seem to have similar price points for properties and I would assume the rents are similar. 

Are there any investors involved in these markets who knows why I should choose one over the other two? Or why should I be in one these markets rather than Cleveland or Columbus which are bigger?

Mike

[James Wise]

Originally posted by @Michael Wentzel:

We have a portfolio of properties in Colorado and we're looking to start buying properties in a second market in Ohio. My wife and I are both from Ohio, so we often end up back there for visits. We like the possibility for cash-flow properties and we like the Midwest. I was initially looking at Cleveland or Columbus. Both seem intriguing, but both are huge and might take a bit of time to get my mind around. So before I decided which one, I became distracted with this little group of markets in northeast Ohio...

Akron is smaller than Cleveland and bit farther south. Beyond that is Canton, which is smaller than Akron and a bit farther south. Finally you have Massillon which is a bit smaller still and a bit west of Canton. All seem to have similar price points for properties and I would assume the rents are similar. 

Are there any investors involved in these markets who knows why I should choose one over the other two? Or why should I be in one these markets rather than Cleveland or Columbus which are bigger?

Mike

 Personally I think you are splitting hairs when deciding between the Cleveland and Akron markets. 

For instance Holton-Wise is of course fully invested up here in Cleveland and we are not interested in doing any investing and or property management down in Akron. This has nothing to do with the Cleveland market being better then the Akron market it is simply us investing where our operation was geographically started. The reason we chose the geographic location was even simpler, it is where we grew up. Had we grown up in Akron I imagine we'd be doing the exact same thing in Akron that we are doing up in Cleveland.

In your situation you are not local to Cleveland or Akron so you need a management team to handle your investments. I recommend you choose the market based upon the team(s) you meet in said markets. The properties and neighborhoods themselves will be so similar it doesn't really matter. It is who you feel comfortable working with. Since you two grew up in Ohio perhaps you should base your decision on which market is closest to where you and your wife grew up as your friends and family members would be able to lend a helping hand or keep an eye on things if need be.