Do you buy rentals in the Cleveland, OH market?

[Sivan Kuvent]

Hey,

I would like to learn more about the properties that people here buy and hold:
What kind of properties do you by for rentals?
Are you looking for properties that are already occupied / turnkey properties or maybe properties that need renovations?

[Daryl Luc]

Well, unless you have family sending you the newspaper, you probably are unaware of the movement to copy Cincinnati laws and also provide FREE lawyers to tenants being evicted.  In addition they are trying to get an ability in place to make any evictions invisible.  Not just Cleveland, but the entire county of almost three dozen suburbs.  It's my opinion, and only my opinion, but it looks like someone would like to see the law of unintended consequences take charge.  Investors shrink their portfolios, the result is fewer places for renters to occupy.  This moves single family property towards more owner occupied, multi into condo style or knock downs.  Replace with highly gentrified properties.  The renter who doesn't want to live on the street has to move on and out.  Goofy initiatives like this with more rent controls are popping up all over the country.  The likely outcome is full circle when you see urban development a la 50's and 60's all subsidized by the government.  The same ones that were torn down during the 70's.