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.
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
There are no free meals. Where the returns are high, the risk is also high. This means that in these areas the tenants in certain areas have problems with payment. Or the houses are very old and need regular maintenance. And the most important thing is to work with a management company that won't screw you over. 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.