Cleveland Duplexes in Neighborhoods with Foreclosures

[Steven Murphy]

Hi everyone, I'm looking into Cleveland for some duplexes or triplexes. The main two neighborhoods I'm looking at is Euclid and the triangle neighborhood formed between Cleveland Heights, University Heights and Coventry Village. The cash flows seem strong and they seem to have price-rent ratios in the 1.5-2.2 range. The thing is, is that there seems to be a ton of foreclosures in this Cleveland heights/university heights-ish area. Can anyone shed some light on this? the neighborhood seems like B or maybe A-, very nice area, so not sure why this is. Is that a big red flag to avoid? I havent read any books or articles on this situation. 

Thanks

[Dan Sarao]

@Nicole Heasley Beitenman - as I am getting thrown into a group without you knowing anything about me or who I am, just to let you know I have been investing in Cleveland for quite some time, have travelled to the city several, several times over the years and currently operate a business in the city with a local partner. Also, I took his questions, and my original answer as something that was applicable across markets in general.  

I agree he should work with locals, I suggest that to everyone as that is how I got comfortable and still feel Comfortable Investing in the market, but I also think all individualS should have the ability to give an opinion and contribute. As a whole let’s not silence out of staters assuming they know nothing. Everyone in this forum is interested in the Cleveland market, and honestly the way the investor pool in Cleveand is going, there may be more Long distance investors than local Cleveland Investors soon (If not already).