Cleveland: The city of incredibly low purchase prices & HIGH ROI

[Rick Rucker]

All

As a lender that's been in not only this market going on 11+ years but California, NJ, FL as well as several other states in the past, I can tell you one thing remains true: Rent rolls are extremely high for the costs to do business.  There are plenty of suburbs that have houses in the 80-100k price range that fetch anywhere from 900-1100 in rent. They are great school systems and the cost of living is incredibly affordable. It's very attractive to families and more or less go on cruise control after you purchase them. 

If anyone is interested, feel free to reach out to me directly. Although we are a lender, we work directly with realtor brokerage shops in this market. They specifically work with out of town investors looking to get into our market.  A LOT of foreign national speculation in Ohio FYI.

Happy investing!

[Rohan J.]

Cleveland is great, but one caveat I would add for people thinking of investing in CLE: please, please take a hard look at the property tax when analyzing expenses.

Most of the areas worth investing in have insanely high property taxes - I just want to make sure people don't forget to overlook it... otherwise, totally agree that it's a great market.