Is Canton, OH a good city to invest in for rental investment?

[Pawan Gupta]

Hello,

Is Canton City in Ohio a good investment opportunity? It's a bit south of Akron, and the house prices are within my budget. I did check the rental trends on rent.com but wanted to understand the rental income potential there from someone familiar with the area. Also, if you could suggest some contractors and RE management companies that operate in that area (based on your personal experience only please), that'd be even better.

Thanks!

[Jack Smith]

@Pawan Gupta

Hello, I have been heavily involved in Canton for a number of years both flipping and Buy & Hold, and can provide any information you might be curious about. But watch if you're following the BRRRR method - many city houses are still under $100k value which is below the minimum required by many lenders. I have one now I'm stuck on which we rehabbed a year ago and will probably just sell as I can't get it refied without some outrageous terms.

We still have high demand in the area and rents have stabilized, maybe even dropped a tad of late.  I self manage, but use ICON to help with leasing.  They are a decent management company and a vendor member of Stark County REIA, but there are few others to check into as well.  Contractors are very tough right now, as many are booked through the summer depending upon the scope of work you need done.  Small jobs and handyman work are easier to deal with.  

Good luck!  There's deals still to be had around here!