Cleveland Heights, OH Investing

[Maurice White]

Hi 

I'm looking at investing in a multi family property located on Sycamore Rd. I'm an out of state investor. I believe it's a good area. I wanted to get thoughts on what type of tenants I can potentially attract and the potential rents I could get from a property in that area? I'm really looking to rent to college students and resident drs at the hospitals near by.

Also if you have any pros and cons about the area. Any and all insight is valuable. Any insights provided is much appreciated.

[Gwen Fyfe]

That's a super fun area, I'm up there all the time. It's near the Coventry and Cedar-Lee neighborhoods, both of which have fun trendy stuff going on. There are also a couple of good colleges right nearby. You'll probably get tenants like me; young professionals in their twenties, maybe starting families, or students. Which sounds like exactly what you're thinking of.

How many bedrooms per unit? I used to rent a 1 bed nearby for $720 a month, for a 2 bed I'd expect maybe $850.

I'm seriously going to be around the corner from Sycamore for coffee this weekend, I can drive by and shoot you some photos if it's helpful.