For those who own property on Cleveland's east side...

[Andrea Jones]

I realize that there are nice area's and not so nice area's in Cleveland Heights. With prices all over the place. I'm looking at a few duplexes and sfh on the less desirable side, that I would call low C properties. My first option would be section 8 tenants. And also students because of the proximity to the hospitals and colleges. 

A) How is the Cuyahoga Housing Authority to deal with?

B) College students are my preferred choice. If the unit is updated, and close to public transit, will a less than ideal neighborhood scare them away?  

[Isaac Rowe]

In the city of Cleveland Heights you have to be aware of:

1. POS- generally going to be several thousand at a minimum.  I always attempt to get the seller to fund the escrow account or satisfy before closing.  It is normally doable. 

2. Every year you have to pay for a rental occupancy permit.  It is in the 200 dollar range, depending on SF or MF.  

3.  Every 3rd year, they will do a rental inspection that you have to pay for, and they will give you a list of things you have to fix.  The POS inspection supersedes that inspection.  So from the point of purchase, you should have three years without having to deal with that.  

(Here is a link to the cities website with more useful information and in case they change their policies!): http://www.clevelandheights.com/index.aspx?page=43...

You won't see a lot of crossover between section 8 and college student areas.   Students tend to rent in specific areas that are within walking distance to the campus, and those houses generally cost more because of the higher cashflow.  It is possible to get students, but I wouldn't count on it.  

That being said, there are good cashflow opportunities in a lot of areas in Cleveland Heights as well as other areas in and around Cleveland.  Feel free to reach out with any more questions.  I have done a good amount of business in the heights area.