I was listening to a podcast on my way to church yesterday with the Rebel Broker and he was going over the best places to purchase rental home. The article he was talking about is from https://www.homeunion.com/ by Stacey Corso. Here is how they looked at the returns in this article.
““Strictly based on yields, and not accounting for employment growth and
future rental demand, Cleveland, Columbia, S.C., and Memphis top our
list of SFR markets for returns,” says Steve Hovland, director of
research for HomeUnion. “In these metros, investors stand to gain big
with a small initial investment over a shorter-term horizon. On the
other hand, Orange County, San Jose and San Francisco will provide SFR
buyers with the lowest yields on their investments. At this stage in the
real estate cycle, investing in these West Coast markets doesn’t pencil
out for most buyers, unless they seek a long-term appreciation play or
desire the cache associated with purchasing California properties
located in highly ranked school districts.”
Cleveland came in at #1 at 10.9% return the first year. Employment in the Cleveland area is very good with a lot of companies moving here. You can purchase a very nice home in the Cleveland area that will get the very good returns for $70,000 to $150,000. These areas are predicted to see 3%-6% appreciation this year.
I am currently doing a property for a client in Parma Ohio that will do over 10% net on the property. It was leased in two days and excellent tenants. This property is also located in a nice neighborhood that families want to live in.
Wanting to get into income real estate? Creating income for today and equity today can get you a freedom and make you wealthy. Low point of entrance and quality homes makes Cleveland a great place to invest you money.