Quote from @Account Closed:
@Min Zhang Hello I manage a portfolio of 40 door inside the Cleveland. I would highly recommend you disclose the that Cleveland and Cuyahoga County is not out of State Landlord friendly. The state actually goes after out of state investors and many properties inside cleveland are losers. I would recommend you google Cleveland "Residents First Initiative " . This is some of the strongest pro tennant, pro squatter and anti landlord legislation to date.
To own a rental property in Cleveland you must have a register property manager that lives in the county, you must register every rental unit, you must have HVAC inspection, and you must have every unit lead certified. Upon many more requirements also each of there registrations and inspections comes with a significant fee. And all have be renewed every couple years.
TO ANY OUT OF STATE INVESTOR STAY FAR AWAY FROM THE CITY OF CLEVELAND IF YOU DO NOT BELIEVE ME JUST GOOGLE AND READ THE NEWS OR CALL A REAL ESTATE ATTORNEY THAT WORKS IN CLEVELAND AND CONSULT THEM BEFORE PURCHASING PROPERTY.
This is helpful for anyone thinking of investing in Cleveland market.
David- do you know if this applies to Columbus, OH?
What out of state markets do you find favorable?
Thanks
