Quote from @Michael Orlando:
@Anthony Porembski Cleveland Heights is definitely tough now. You really gotta find a triplex / fourplex to have nearly any chance at positive cashflow but once they hit you with the tax increase it's hard to get a solid COC. It's a good place to be overall with the hospitals / schools nearby, but deals are few and far between and lots of competition. Depending on what metrics you're looking for, I can maybe help point you in a good direction!
I already bought a tri-plex for 156.5k put 18k down and 65k for updates (granite, cabinets, bathroom, kitchen, floors, appliances) I’m a contractor and have contractor connects so i did most of the work myself or for a significantly reduced cost. Unit 1 & 2 fetch $1350 and i airbnb the 3rd floor managing and cleaning it myself and net 2k on average a month. I have the water separated so I don’t pay water or any other utilities to boot. I net cash flow just north of 3k a month. There isn’t a lot of inventory in CH but we bought right and will continue to look for opportunity on the East side. I could always use another contact so I’d be grateful to link up. I also live in Cleveland Heights.
