Cleveland RE Investing

[Rik Patel]

Hi All! 

Is anyone investing in the Cleveland area? I would like to know more about the area as I am moving there temporarily in the summer.

[Robert Matelski]

The Cleveland area is a good market to invest in. Prices are still below their previous peak (i.e. ~2006) levels in most areas (which were not even crazy high to begin with), yet rents are at an all-time high. You can easily get a pretty good cap rate, and there is room for appreciation as values head back toward the 2006 levels. I invest there, and have 6 SFRs and 1 duplex currently. There are lots of clunker properties on the market, as well as dicey locations/neighborhoods throughout the region, so be sure to do a lot of due diligence. Google street view should become your best friend if you are going to get serious about this. Also, the county website (auditor's and recorder's offices) are very useful tools.