Kansas City, MO vs. Cleveland, OH

[Taylor Woodbury]

I know this is based some on opinion and individual experiences, but what has been the experience of people that have invested in either or (even better) both of these markets? Which one tends to have higher cash flows in A and B class neighborhoods when all is said and done? Are there any key advantages or disadvantages to either area that I should be aware of? I currently have rentals in Utah where the appreciation has been fantastic, but the cash flow is not great for my current goals. Thanks in advance for your thoughts!

[Andrew Weiner]

I think that in any city that you have to have someone with good local knowledge.  There are neighborhoods in Greater Cleveland that have had incredible appreciation and some that may have lost value.  I will start to sound like a broken record but the key is buying the right property at the right price.  There are people buying properties that are bad deals every day even in the best markets. 

Do your homework on the specific areas, check the school districts, check to see crime, call the local police or building department and ask about that specific street (they shouldn't tell you anything but sometimes they do!).  I know with COVID that travel is difficult but I think you should walk around the neighborhoods you are interested in so you can be comfortable with what your buying.  In the end you really will need some a good local contact that can help you identify the right areas and properties to meet your goals and allow you the peace of mind to invest and keep investing.

I don't know anything about the prospects in KC but I can help out with Cleveland specific info if you want.