Cleveland Suburbs Heating Up
In the Cleveland market I noticed a big uptick in buying real estate in the Higher rent areas.
With all the new jobs coming to Cleveland area homes are in high demand for people who want to live here. Most jobs in Cleveland area are medium Income and upper median income salaries.
I've also noticed that the commercial real state is filling up. Rooftop investment has an office in Beachwood Ohio and I noticed that there was no vacancies in our building. Last year at this time they couldn't wait to give us a great deal on a office space .This can only mean that there are a lot more businesses coming here.
My secretary was telling me she was looking for a house in Euclid Ohio to rent. Because of the very low inventory of rental homes when she did find one to rent it was a hundred dollars more for the rent than she expected. She said she happily paid that amount in order to live in that area.
Yesterday I met with some investors that we're from Colorado and Holland. The gentleman from Colorado was a broker. He informed me that the inventory for investment real estate was running extremely low in the Denver Colorado area. He was very excited about the opportunity in the Cleveland area to purchase investment real estate. He could not believe the quality of our real estate and the high returns with it.
The Ford car company announced this week that they are adding 450 new jobs at the Ford plant in Cleveland. This is another great sign that there's going to be a housing shortage in the Cleveland area.
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I think people forget about Cleveland Being a metropolitan city one with many amenities And a lot of culture. The theater district is only second to New York and the dining in Cleveland attracts the finest Chef's in the business. The other benefit is that the area also offers very affordable living. With Lake Erie and the ever present building of the downtown area Cleveland is becoming a mecca for business opportunities.
As a real estate investor this makes me very excited and I can tell you the real state here is phenomenal. The time is coming in the near future when Cleveland will also have a inventory problem and prices will start Ticking upward.
Investing in the Cleveland suburbs has become a very smart way to build your portfolio in equity positions and income streaming. The net rental income returns are double digit in this area. Go to any Bank or other quality portfolio instrument and the returns will probably be almost half.
So build your portfolio with the Cleveland suburb market. It's has quicker and higher returns, with it's quality Investment real state making it a smart choose for investing.
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Posted in Investing Post Date 09/20/2015