Long distance invest in Cleveland

[Andrew Brown]

Hi, Im a nyc resident looking to invest in single family or multifamily homes in cleveland. Max budget for home is $100k. Any realtors, and property managers i can be connected with?

[Gary Parilis]

I was looking in Cleveland for a while and worked with Erin Robinson as my agent. She's fairly new as an agent, but you wouldn't know it (I believe she's been an investor longer). She's super knowledgeable about the market, very helpful and responsive, very focused on the particular needs of the buyer -- and just generally a pleasure to work with. I can give you contact info. I strongly recommend her.

A note about Cleveland and why I moved on from there... Cash flow looks terrific on paper, but dig into the state of the market (e.g., on city-data.com). Population decline, jobs leaving, property values flat, high crime. And expect high turnover and be prepared for evictions, which hurts your cash flow. Everyone has their own priorities -- just choose your market carefully. In Cleveland, I'd recommend focusing your attention in C+ neighborhoods at least.