Thoughts on this property?

Question

This property seems like a great potential opportunity... I would love to hear locals in Cleveland / Bedford thoughts..

770 High St,Bedford, OH 44146

Michael

Valerie Couch · Answer

We invest in Bedford like crazy and have great returns.  Definitely would not rule it out!

Dan Mitchen · Answer

Definitely do your research on that particular neighborhood, but could be a decent opportunity if all checks out. You could probably expect around $875-$925 in rents.

James Wise · Answer

If you are looking to be in the property for under 50k then Lakewood is out. Other hot investment areas that are out are West Park, Tremont, Ohio City, Parma, and pretty much every multi family property anywhere decent in the greater Cleveland market, including Cleveland proper.

You should be able to find a decent single family rental property for an all in price around 50k in the following areas.

• Garfield Heights
• Bedford
• Newburgh Heights
• Old Brooklyn
• Maple Heights

Paul Vincent · Answer

I'm from Cleveland and based on what little I know about that property, I'd steer clear.  Bedford isn't as hot of an area as some other Cleveland suburbs like Lakewood for investments.

Ryan Arth · Answer

@Michael Conway Bedford isn't the worst area, C- in general. It depends on what you are looking for whether this is good or bad.

Cary F. · Answer

@Michael Conway

I have vacancy rates for Cleveland in general and Lakewood. Lakewood and Cleveland vacancy rates are greatly compressed and there is still pent up demand.

I don't have vacancy rates for Bedford but I'm guessing they're pretty low. If you're okay with C-, then Bedford isn't bad. You'll have a hard time finding anything in Lakewood worth buying for less than $100,000. You should be able to cash flow in Lakewood though as the rents are much higher than Bedford or other similar areas.

Michael Conway · Answer

Anyone else have recommendations for C+/B- neighborhoods?  might be able to stretch the budget if the numbers work.  Thanks for everyone's input!

Michael Conway · Answer

@Cary Ferguson Jr - I'm hoping to find a property under 50K.  I'm strictly looking for cash flow, and instant equity build potential thru renovation...  I'm ok with a C class neighborhood at that price if the numbers work out.

@Dan Mitchen - Do you have any idea of vacancy rates in the Bedford area?

@Paul Vincent - thanks for the info on Lakewood, any other areas I should be looking at?

Thoughts on this property?

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