The Cleveland Area has a lot to offer to business and investment real estate. It has all the amenities that any large city has. Investment real estate is among the best of all the larger cities. In fact The Economist ranked Cleveland 26th as the best place to live in the world.
With the smaller suburbs,quality schools,Lake Erie, Low crime rate makes Cleveland a highly desirable place to live and work. Inventory on real estate has dropped by 50% and sales are brisk. Rental returns are 15%-22% in the Cleveland area.
The best thing about the Cleveland market is it is still very affordable and there is a high demand for rental properties. Rents range from $850-$1450 a month for homes and $550-$1050 a month for duplex's. THE DEMAND IS VERY HIGH!
We are finishing up a duplex in Lakewood Ohio 2029 Dowd the property has been rented for 2 weeks @ $900 unit 2 and $675 Unit 1. We usually rent out our properties before they are finished. Another home we just finished in Cleveland Heights Ohio 3321 Beechwood we rented for $1100 a month 3 weeks before it was done. I do not count anything rented until we get a deposit from the tenant. We also do an extensive credit check on each tenant.
I could go on and on with properties with similar stories. The great thing about Rooftopinvestment is the quality and affordability of our investment program. I have also thrown in a couple of quick facts about Cleveland and a really great video.
Economy and Industry
Greater Cleveland is a world corporate center, consistently ranking among the top 10 cities in which Fortune 1000 companies maintain their corporate headquarters. These industrial giants include companies like Eaton, Rockwell Automation, Timken, Diebold, and Parker Hannifin, along with hundreds of growing, advanced manufacturers. NASA also maintains the Glenn Research Center in Cleveland. The Cleveland region is the worldwide leader in plastics manufacturing, innovation and commercialization. Goodyear, PolyOne, Sherwin Williams, RPM International and Step2 are just a few of the global brands that call the Cleveland region home Cleveland Clinic &
Biotechnology
Cleveland's largest employer, the Cleveland Clinic, consistently ranks as the nation’s best cardiac care center. The Cleveland Clinic Foundation has the nation's largest hospital-based department of biomedical engineering. To capitalize on this strength, the State of Ohio invested $60 million into the Cleveland Clinic’s $250 million Global Cardiovascular Innovation Center (GCIC) to attract, incubate and accelerate cardiovascular related companies. Cleveland's research base for the biotechnology and biomedical industry has tripled in recent years, from $50 million to $150 million. More than 100 biotechnology firms are located in northeast Ohio, along with more than 100 research laboratories. BioEnterprise is a business formation, recruitment, and acceleration initiative designed to attract outside venture capital into the Cleveland region for biomedical start-up opportunities. In just 5 years, the organization has generated more than $500 million in new VC funding, making the Cleveland region stronger in VC recruitment than many states as a whole.
With the smaller suburbs,quality schools,Lake Erie, Low crime rate makes Cleveland a highly desirable place to live and work. Inventory on real estate has dropped by 50% and sales are brisk. Rental returns are 15%-22% in the Cleveland area.
The best thing about the Cleveland market is it is still very affordable and there is a high demand for rental properties. Rents range from $850-$1450 a month for homes and $550-$1050 a month for duplex's. THE DEMAND IS VERY HIGH!
We are finishing up a duplex in Lakewood Ohio 2029 Dowd the property has been rented for 2 weeks @ $900 unit 2 and $675 Unit 1. We usually rent out our properties before they are finished. Another home we just finished in Cleveland Heights Ohio 3321 Beechwood we rented for $1100 a month 3 weeks before it was done. I do not count anything rented until we get a deposit from the tenant. We also do an extensive credit check on each tenant.
I could go on and on with properties with similar stories. The great thing about Rooftopinvestment is the quality and affordability of our investment program. I have also thrown in a couple of quick facts about Cleveland and a really great video.
Economy and Industry
Greater Cleveland is a world corporate center, consistently ranking among the top 10 cities in which Fortune 1000 companies maintain their corporate headquarters. These industrial giants include companies like Eaton, Rockwell Automation, Timken, Diebold, and Parker Hannifin, along with hundreds of growing, advanced manufacturers. NASA also maintains the Glenn Research Center in Cleveland. The Cleveland region is the worldwide leader in plastics manufacturing, innovation and commercialization. Goodyear, PolyOne, Sherwin Williams, RPM International and Step2 are just a few of the global brands that call the Cleveland region home Cleveland Clinic &
Biotechnology
Cleveland's largest employer, the Cleveland Clinic, consistently ranks as the nation’s best cardiac care center. The Cleveland Clinic Foundation has the nation's largest hospital-based department of biomedical engineering. To capitalize on this strength, the State of Ohio invested $60 million into the Cleveland Clinic’s $250 million Global Cardiovascular Innovation Center (GCIC) to attract, incubate and accelerate cardiovascular related companies. Cleveland's research base for the biotechnology and biomedical industry has tripled in recent years, from $50 million to $150 million. More than 100 biotechnology firms are located in northeast Ohio, along with more than 100 research laboratories. BioEnterprise is a business formation, recruitment, and acceleration initiative designed to attract outside venture capital into the Cleveland region for biomedical start-up opportunities. In just 5 years, the organization has generated more than $500 million in new VC funding, making the Cleveland region stronger in VC recruitment than many states as a whole.
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