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Updated about 6 years ago on . Most recent reply

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17
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Melanie Armstrong
  • Cleveland, OH
4
Votes |
17
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Buying and Holding in the Inner City

Melanie Armstrong
  • Cleveland, OH
Posted
Does anyone purchase in the inner city? Can you tell me the pros and cons? What have been some of your experiences?

Most Popular Reply

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653
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Ryan Evans
  • Rental Property Investor
  • Cleveland, OH
768
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653
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Ryan Evans
  • Rental Property Investor
  • Cleveland, OH
Replied

It's really tough to talk about east side Cleveland since the east side doesn't just have a huge variance in suburbs, but literally, the block by block variance is huge! I mean, you've got 2m mansions in Bratenahl and 5k SFR's with the roof caving in just 300 meters down the road. It's great you're on the ground so you can see it all for yourself.

I really like the waterloo arts district in 44110 since it's starting to gentrify. The area is still pretty rough in my opinion, but I don't think it quite deserves its reputation. Lived there for a couple months this year and everyone I met is extremely optimistic for the neighborhood. 

Your goal is doable, but you're going to have to find some seriously good deals. You can cash flow 800 per duplex (I know from experience), but let me know where you're finding those deals because I want more of the action! 

I think cash flow of 400-500 per duplex in the area is somewhat reasonable. But screen the **** out of your tenants! 

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