Originally posted by @James Wise:
Originally posted by @Christopher R.:
Originally posted by @James Wise:
@Christopher R. as @Chris Martin said you definitely want to check out The Ultimate Guide to Grading Cleveland Neighborhoods as a starting point.
What areas in Cleveland close to North Royalton would you recommend?
More or less every community that boarders North Royalton is nice enough. Thing is many are A-class neighborhoods so generating cash flow will be difficult as the market pricing is supported by owner occupied purchases.
Is Parma a good area for investing? My sister-in-law mentioned that. It's also right next to North Royalton.
Yes, although the prices has increased very steadily so I think there are better opportunities elsewhere. Euclid & Garfield Heights both come to mind. Similar rental amounts, tenant base and housing stock with much lower pricing.
What’s a good price range to be focusing on? Why?
Single family homes renting for roughly $1,000/mo priced around $70,000-$80,000.
Do you recommend single family? Multi?
Both. Just because you like chicken it doesn't mean you have to hate steak.
Wow. Thanks for this information!!!!
I will definitely study Euclid and Garfield heights some more.
If I wanted to study around 4 or 5 areas, among this list, which other 3 areas would you pick: South Euclid, Cleveland Heights, Lakewood, Maple Heights, Warrensville Heights? Why those areas?
All 5 of those perform well for us, so you can't really go wrong investing in any of the 5. Lakewood is the nicest. The prices are of course the highest because of this. If I had to pick 3 of the 5 I would go with Lakewood, South Euclid & Cleveland Heights. All 3 of those are nicer areas than Maple Heights & Warrensville Heights.
Thanks man. You have been so helpful! I have been studying your blog post on grading the neighborhoods like my life depended on it!
I will go ahead and remove Lakewood from my list because of the higher house prices and my top 4 then, based on your advice, is : (1). Euclid, (2) Garfield Heights, (3) South Euclid, and (4) Cleveland Heights. Does this look good?
Is it relatively safe to be looking at most houses in those 4 places or is it a street-to-street or block-to-block situation where one street is great for investment and the next one is a war zone?