Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Dave Wittig
  • Computer specialist
  • Pfllugerville, TX
1
Votes |
6
Posts

Cleveland Ohio rentals

Dave Wittig
  • Computer specialist
  • Pfllugerville, TX
Posted

Good morning, I’m sure someone or a few people are familiar with the Cleveland Ohio rental market for single family homes. I am looking at a opportunity to buy 2 single family homes, one is closer to downtown Cleveland and the other is in west Cleveland I’m told. I was wondering how the rental market is there. Thanks

Most Popular Reply

User Stats

39
Posts
20
Votes
Joshua Parr
  • Flipper/Rehabber
  • Cleveland, OH
20
Votes |
39
Posts
Joshua Parr
  • Flipper/Rehabber
  • Cleveland, OH
Replied

In terms of numbers (cap rate, cash on cash return, etc.), Cleveland is pretty great if you're comparing it to somewhere like California. However, I would make sure you know what you're getting into. There are plenty of rough neighborhoods around Cleveland. Not to say that you can't get great tenants and make great returns in those neighborhoods, but you just can't be going in there hoping for the best without a good team. There are many out-of-state and out-of-country investors always buying in Cleveland area because prices are cheap. I have heard plenty of cases where some of these people get burned pretty bad. Not trying to scare you, I would just make sure you do due diligence and have trustworthy property management and other team members with boots on the ground in the market you're buying in.

I would also recommend taking a trip here (if you haven't) and just driving neighborhoods to get a feel for them. The price of a plane ticket can save you thousands of dollars in the future. 

Best of luck!

Loading replies...