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Updated almost 6 years ago,
Are Midwest locations drying up?
I'm not a new real estate investor, nor am I a seasoned one, probably more middle of the road, and here's my story. I bought a duplex in Euclid, OH, northwest of Cleveland, back in June 2017, for $78000. My realtor thought this was a bargain at the time. Little did I know it was. Both sides are rented out and I'm just paying off the mortgage instead of taking the money. Two years later, it's hard to find a bargain like the one I have. As I was doing my research to find another property to purchase, I found out that a new Amazon Fulfillment Center is minutes away from my place and there's another one several miles from that one. Taxes are up based on my new escrow statement as well as the property value of my place. This is both good and bad. I had plans to expand to Buffalo back in 2017 but now it's hard to find some bargains there as well. It seems investors found out about Cleveland and Buffalo the last couple of years and big money is moving into those areas. Right now, I'm looking to expand into Pittsburgh and found some decent places, one in which I'm going to put out an offer. It was unexpected but PA seems better tax-wise than NY. Does anyone know of any other locations to choose from?