Thoughts on Euclid vs Bedford

[Jim Truman]

Good morning. Out of State investor here looking at a property in Euclid and Bedford. We're being told Bedford is a nicer area. The Euclid property is in an area of small/cheap townhomes. But I understand there is also some attractive new developments in Euclid. 

Mr. Wise's map actually rates Bedford as Class C and Euclid as Class B. I'm interested in your thoughts on these two areas.  

Thanks
 

[Robert Matelski]

Originally posted by @Jim Truman:

Good morning. Out of State investor here looking at a property in Euclid and Bedford. We're being told Bedford is a nicer area. The Euclid property is in an area of small/cheap townhomes. But I understand there is also some attractive new developments in Euclid. 

Mr. Wise's map actually rates Bedford as Class C and Euclid as Class B. I'm interested in your thoughts on these two areas.  

Thanks
 

I have property in each of those cities and both are decent places to invest. 

There are some nuances to be aware of though. First off, it's hard to just call Euclid "B" and leave it at that. Euclid is larger and less homogeneous in terms of income levels, housing quality, etc., and there are areas ranging from high "D" all the way to low "A" (based on an actual objective assessment). If you're looking at cheap townhouses then you're not looking at an area that will attract the best tenants generally.

Bedford is more homogeneous, and is much smaller overall. It's high "C" to low "B" throughout the whole city. Bedford does not have a POS inspection any longer, but they do have an extremely strict rental inspection, so that might be something to watch out for.

Feel free to shoot me a private message and I can show you how I came up with these ratings/grades, and also other info about both Euclid and Bedford.

If I were to buy another property in one of those two suburbs this summer, I would probably buy in Euclid, honestly. I think its lakefront presence makes it more appealing for the long run.