When your looking at the housing stock in America and compare Price, Quality and affordability you have to consider Cleveland. I have lived here for the last 10 years and I can tell you that this area is affordable with tons of amenities.
If you are an investor and need real estate there is no better than Cleveland Ohio Metro. Anytime you are looking to purchase real estate as an investment you need to understand the population, areas and state laws.
I was talking to a potential client last week that was looking at Chicago to invest in. Ok area, but horrible state laws for investors. Unless you are buying high end real estate, Chicago is a difficult place for investors to make money. According to a article I read it takes at least 10 weeks to evict a tenant. That's 2 months at least that you have to deal with no rental income.
That is information that needs to be considered when you are purchasing any type property. In Cleveland the process takes about 4 weeks. We have had only one eviction ever in out homes and properties.
The other factor you need to consider is the home equity positions in the area you are purchasing in growing? We are seeing a 4-6% minimum growth in equity with our real estate. I have Sold 4 homes we purchased a few years ago for clients and they have made great money on their equity growth and rental income.
Cleveland also has a growing population that is over 2 million people and counting. There are great employers here also Progressive, Cleveland Clinic, Sherwood Williams, Nestle to name a few. That means great paying jobs and great working environments.
There is a large rental pool that needs real estate in Cleveland Ohio. Our average leases are $1100-$1400 a month, and we have had only 1 eviction during the COVID-19. I believe that is because we purchase homes that people really want to live in. We have a ton of tenants that want our real estate also. That means that there are many people wanting our real estate.
Cleveland Metro is truly one of the best areas to live and invest in.
Need Real Estate? I'm Brett EXP Realty 216-703-5740 or Text "Success" to 1-937-500-0745
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Thank you