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Updated over 7 years ago, 05/22/2017
Akron vs Canton vs Massillon
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
@Kayla V. The meeting this month is the holiday dinner. Let them know you are coming here:
@Cheryl H. Thanks! I registered and paid online.
Thank you for bringing up the REIA. I actually attended a great meeting back in the summer in Akron and learned a lot and made many contacts. One of the contacts led me to my first purchase and we are looking at our second and third now. I highly recommend the REIA in Akron as a good place to start.
Mike
anyone else going to this?
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
If you are still considering Columbus I'd love to be a resource here. Work with plenty of out of state investors. Everyone has their own strategy.
- Robert Ellis
@Cheryl H. I signed up and plan to go. I am a California driver so the only thing that would stop me is ice or bad snow. Look forward to meeting you.
Thank you for reaching out. I'm inching my way into Akron and realizing it will take more a year or two to build a team and foundation in that market. So it will probably be 2018 or 2019 before we're ready to open a third market.
Mike
Saw the subject line and immediately thought of high school football. #youmaybefromohioif
@Kayla V. I am sorry I just now saw your comment. I am still looking for a good investment realtor. I have used a couple and tried working with a few more. Personalities didn't match or they weren't that interested in working with lower $ properties. I totally understand but there has to be someone who loves the challenge and appreciates a customer that is constantly looking and buying. The woman I am currently working with may be a keeper. The jury is still out.
As far as property manager, I don't use one. I did that with my Oregon rental and hated it. I manage long distance. If there is a plumbing issue, I call a plumber and send him over. It can be a little challenging but I have worked with handy men that work for management companies and they did less than stellar work. In addition I was told at the REI group I attended that there weren't any good property managers in town. Right now I have a friend that I pay to do odd jobs like mow the lawn, hang address numbers, hang blinds, etc. He does it as a favor but I am looking for a good handyman that I can call to do odd things like that. Self managing has worked out for me so far but I only have 4 properties/6 doors. It may be different when I acquire more.