Investing in SFH vs Multi Family in Cleveland

[Ravi Shah]

Hello People, 

I am looking to invest in Cleveland with cashflow as the goal. I have so far invested in SFH in different parts of the country but I am wondering what's a good strategy for Cleveland i.e if it's the better market for SFH vs Multifamily. I have been a bit skeptical about multifamily so far because I don't know how bad it will be in terms of maintenance & the opex that comes with it ( vs SFH ) . Would love to know everyone's thoughts on this ! TIA

[Alecia Loveless]

@Ravi Shah I don't know the Cleveland market but I have had just as good experience with my multi families as with my SFH. The multis cash flow better in my region and are more affordable.

I generally try to do as much of the needed maintenance that turned up on the home inspection right away after the closing to try to minimize emergencies afterwards. I also keep up with all of the annual maintenance like furnace cleanings and septic work to make sure my properties stay in top shape.

I prefer multis because you have multiple rents in case of a vacancy to continue covering your bills as opposed to SFHs. It’s also easier to build up your reserves with more rent coming in.

Just my personal preference.