We just finished and leased this property for $1100 a month near Lakewood Ohio. The home is located in the Kamms Corner area in Cleveland. This area is seeing nice growth in equity. This report from ARMLS gives us the stats, In November of 2016 the average price in the 103 area was $86,657 fast forward to November 2017 the average price is $113,708. These are the types of trends that we like to see in areas that we are purchasing in.
Looking at income or investment real estate you need a team of professionals that look at the trends and get the homes that have a large tenant demand. There are not a ton of homes in this area that are for rent. That is what makes a good income property.
We will also be managing these properties for our clients. A Property management that focuses on getting quality tenants is critical to steady income. I know that sounds like every other management company, but we truly do it. For example we showed this home to almost 20 potential tenants before selecting one.
We check there credit, and past landlord references to help ensure that we have a good tenant. We also market properties through social media.