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Updated about 6 years ago on . Most recent reply
Investing in Cleveland heights
Hello fellow investor
I would like to know if it is a good idea to invest in Cleveland heights Ohio. Here is the deal I saw a house in Cleveland heights for $9500 but he said he owes about 30k in taxes and about 10k needed to getting it ready for rental. Is this a good deal.please help me analyze this deal
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James Wise
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James Wise#5 All Forums Contributor
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- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Originally posted by @Deodat Ramdat:
Hello fellow investor
I would like to know if it is a good idea to invest in Cleveland heights Ohio. Here is the deal I saw a house in Cleveland heights for $9500 but he said he owes about 30k in taxes and about 10k needed to getting it ready for rental. Is this a good deal.please help me analyze this deal
You'd be all into that investment for around $50k. So long as it's got at least 3 beds I'd imagine it'd rent for between $900-$1,100 depending on how nice you do it.
That is a hell of a deal. Good candidate for a BRRRR. Most singles in Cle Hts that are similar sell for around $75k.