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Updated about 5 hours ago on . Most recent reply

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Eric Martin
  • Brampton, ON
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From Canada to Cleveland

Eric Martin
  • Brampton, ON
Posted

Hey Biggerpockets community,

I'm an investor from Toronto, Ontario where SFRs are $1m, the landlord tenant board is a nightmare and cap rates are doing the limbo. I bought my first rental in London, ON in October 2019, and recently sold in August 2024. I'm looking for a market where I can park the proceeds from my previous property and create some cashflow. Cleveland, Ohio seems to be the place to be in terms of cap rates and distance from home. I have about 250k USD to allocate to this venture, but I may want to dip my toes into the market with a single-family residence in an area like Parma Heights and test the waters. My first property was chaotic with tenant troubles, so Ohio being a landlord-friendly state and Parma Heights being A-class location, I'm eager to get involved and experience the difference. As a cross-border investor, I'm likely going to need advice on entity structure to protect my liability while also not being double-taxed, I'm going to need to network with experienced investors/property managers/agents in the Cleveland area. Would love to hear the community's thoughts and meet some Clevelanders! 

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Jimmy Lieu
Agent
Pro Member
  • Real Estate Agent
  • Columbus, OH
1,390
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Jimmy Lieu
Agent
Pro Member
  • Real Estate Agent
  • Columbus, OH
Replied
Quote from @Eric Martin:

Hey Biggerpockets community,

I'm an investor from Toronto, Ontario where SFRs are $1m, the landlord tenant board is a nightmare and cap rates are doing the limbo. I bought my first rental in London, ON in October 2019, and recently sold in August 2024. I'm looking for a market where I can park the proceeds from my previous property and create some cashflow. Cleveland, Ohio seems to be the place to be in terms of cap rates and distance from home. I have about 250k USD to allocate to this venture, but I may want to dip my toes into the market with a single-family residence in an area like Parma Heights and test the waters. My first property was chaotic with tenant troubles, so Ohio being a landlord-friendly state and Parma Heights being A-class location, I'm eager to get involved and experience the difference. As a cross-border investor, I'm likely going to need advice on entity structure to protect my liability while also not being double-taxed, I'm going to need to network with experienced investors/property managers/agents in the Cleveland area. Would love to hear the community's thoughts and meet some Clevelanders! 

Hi Eric, welcome to BP! If you're looking for strictly cash flow and that's the most important, I definitely recommend going with Cleveland. However, if you're okay with some cash flow but AMAZING appreciation potential and the best macroeconomics, I would look into the Columbus Ohio market as this is where all of the population growth, job growth, and companies moving/developing here (for example Intel, Google, Amazon, FB, LG, Honda, Nationwide, Anduril, etc). On the other hand, Cleveland is losing population year to year and people are leaving the city.

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Jimmy Lieu, Swiss Realty Group
5.0 stars
60 Reviews
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Swiss Realty Group
5.0 stars
60 Reviews

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