Question for experts / investors in Cleveland: It seems that the ratio between the purchase price of a multi-family and its rental is excellent…
Question for Experts / Investors in Cleveland:
It seems that the ratio between the purchase price of a multi-family and its rental is excellent (for example, purchase price: $ 70,000 rent $ 1500 - according to Zilo).
On the face of it the numbers are great. It seems like a haven for investors, but…
1. I have seen that there is a huge supply of homes for sale, which flushing makes me apprehensive. Is there no flooding?
1. Is it easy to rent a multi?
I would love to talk to an investor / agent in the area.
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There are no free meals. Where yields are high the risk is also high. Meaning that in these areas the tenants in certain areas are having paid problems. Or the houses are very old and need regular maintenance. And the most important thing is to work with a management company that will not knock you out. Successfully
Not familiar with Cleveland, but now the season's real estate sales record, meaning all of America sells and buys during this period. As for Cleveland - specifically, someone else will answer.
By the way, a place where there is a market of buyers is a paradise for investors, I wish for us. There is no supply here at all.
Good luck, and I wonder what's going on in Cleveland these days other than the peak of the real estate season.