Buy & Hold- Cleveland Heights, Lakewood, and Euclid

[Tyler Scruggs]

Hi!

My name is Tyler Scruggs, I am a soon to be college graduate (May 2020) that will be working in Sales Management upon graduation. I am originally from a suburb in Cleveland (Solon), and plan to begin my initial investments in the Cleveland market as it is the most comfortable market to test in my opinion. 

I have been doing research predominantly on Zillow looking at the listing prices of 3-4 bdr homes for sale, along with the rent prices as well. I have specifically been looking into Cleveland Heights, Lakewood and Euclid. I read the Cleveland guide to real estate that was posted in some of the forums and graded the cities from A-F, and decided that I would like to stick with B range areas. 

I plan to make my first investment soon after graduation, and want to see what successes/failures, advice, etc that people have been experiencing in these areas. Also, if you would recommend these cities, do they cash flow well, or are there any other cities that you would recommend. I would appreciate any and all advice! 

[James Maradits]

Originally posted by @Denis Woosley:

Out of those cities I would stick with Euclid. More potential renters with Amazon coming to town. Lower taxes. Lower cost of entry. 

Cleveland Heights is hugely variable based on the street, definitely has some hot spots. 

Lakewood can have a lot more appreciation but probably harder to cash flow.

PM me if you want my real estate agent. She is the best.

I think the hype of the Amazon fulfillment center was made up by agents looking to sling more deals in the Euclid area.  Hardly anyone talks about the fulfillment center they already opened in Warrensville Hts.  Bringing 2,000 (relatively low wage) jobs to the area is great, but given that the Cleveland metropolitan area has over 2 million people and the fulfillment center is directly off of the interstate, I don't see people making a great migration to live in Euclid when you can commute anywhere in Cleveland in about 20-30 minutes.  The tax rate in Euclid is actually higher (3.11% vs 2.79% of Cleveland), but the cost of entry *can* be lower depending on the area.