Friday, July 19, 2013

New Weekly Ad:Nice Investment home in a Great Neighborhood





Attractive 4 bedroom, 1 and a half bath single family home on a beautiful street in Cleveland Heights OH.  This home features a first floor master bedroom, family room with a fireplace, dining room, detached two car garage and a partially finished basement.
*This home has a tax appraised value of $104,000. Contested taxes are typically reduced by 30% which will increase cash flow.

Property #’s Below:
Purchase Price ---------------------------------------------------$ 32,000
Rehab Cost ------------------------------------------------------- $ 33,000
Total Cost including rehab and purchase-------------------$ 65,000
Market Value ------------------------------------------------------$ 90,000-100,000


After Expenses Positive Cash Flow $650
Rent --------------------------------------------------------------------------------------------$1100
Prop Management ------------------------------------------------------------------------ $  110
Taxes ---------------------------------------------------------------------------------------    $  295
Insurance ------------------------------------------------------------------------------------ $    45
Positive Cash Flow ------------------------------------------------------------------------ $   650
ROI ------------------------------------------------------------------------------------12%

Call Brett 602-363-6551

Sunday, July 14, 2013

Cleveland's economy up in every catagory of Q4 2013

 

 Cleveland's economy up in every catagory of Q4 2013


The city of Cleveland is growing downtown.  This is great for the surrounding areas.  In this report from City-Data.com shows all the new sq footage coming in the downtown areas.  I want to point out the 450,000 sq ft in office space.  This means more business's are coming in and that means more Jobs. This article is just a snap shot of the new business coming into the Cleveland Area.  I also included the link to the entire story.

A few highlights for Downtown Cleveland:

- 1165 housing units coming online in the next 18 months
- 3 new hotels (741 hotel rooms) in the next 18 months
- Market Comparison by City (see page 9 of 14!), Cleveland now has the most sq. ft. office space in the region and is getting online 450,000 sq. ft. coming online in 2013 -- again the biggest increase in the region.
- Two dozen new restaurants for 2013
- RTA ridership increased in every categor

Here is another story that says that fine jewelry sales are up double  from last year in the Cleveland area showing a stronger economy in the greater Cleveland area. 

Increase In Fine Jewelry Sales Indicates Economy Is Improving


 "Our January and February sales are more than double than last year's," said Cleveland-based jewelry designer Heather Moore, "and we currently sell more pieces in 14k gold than Sterling silver. People are starting to relax and spend money again.


 I will give you one more piece of news on jobs in this area.  It comes from crainscleveland.com 

Team NEO forecasts 150,000 new jobs

 Employment in Northeast Ohio is forecast to grow by a net of 150,000 jobs through 2022, and employers will need to fill 780,000 job openings over the next decade because of retirements and job churn, according to the first-quarter economic review released today, May 20, by Team NEO. "


Sunday, July 7, 2013

Why are People Moving to Cleveland



There are a lot people moving to the Cleveland area for many different reasons.  I will be going over some of them in this Blog.  That is great News for Real Estate investors, more homes will be needed.  The winning formula in real estate investing is do people want to live their.  Also is there business,good schools, things to do and what is cost of living ?   


The Best Cities for Boomers to Pre-Retire by nextavenue.org.  According to their report Cleveland ranks #2 Cleveland-Elyria-Mentor Cleveland has plenty of doctors per capita as well as an award-winning hospital system, the Cleveland Clinic, which has been ranked by U.S. News & World Report as one of the top five hospitals in the nation.

Here's a Blog about a Moving to Cleveland
By  aslamminadventure.com   According to a variety of website calculators including Bankrate.com, the cost of living in Cleveland, Ohio is 23.86% less than my former home of Anchorage, Alaska.  And it is between 25-59% less than many cities in New York and New Jersey. But I think the barista who recently moved there from NY, who now manages my soon to be local coffee shop, put it best… “You can live like a princess in Cleveland.”

This article talks about all the growth another important ingredient to success in Real Estate
 
 Cleveland began revitalizing its downtown in the mid-1990s. Today, more than $3.5 billion is currently invested in furthering the area's redevelopment. The Global Center for Health Innovation and a 750,000 square foot convention center will open this summer, totaling $465 million.  Roughly $200 million in mixed-use development is under way around the relocation of the Cuyahoga County Administrative Headquarters at Euclid Ave. Recreational projects include a newly finished aquarium, an up-and-coming recreation center and a proposed skate park expected to break ground this year. 
 
Here's a story talking about employers  and recruiters and what they are saying about living in the Cleveland area.


Ms. Judd also points clients to salary calculators like that at Sperling's BestPlaces.net, which incorporates data on
salaries, home prices, crime, health care expenditures and more to create a cost of living analy
sis. That site gives Cleveland a cost of-living score of 90
with 100 as the national average
as compared to 105 in Atlanta, 116 in
Chicago, 159 in New York City and 185 in San Francisco.
Ms. Judd says cost of living is the top factor in making a client choose a job in Cleveland, combined with what she
calls the low hassle factor—shorter commutes, less traffic and easy accessibility by air.
“Our relative weakness is nothing more than the unfortunate reputation Cleveland has outside of Northeast Ohio,”
Mr. Milby said. “But one of our greatest strengths is that once people are here, they don't want to leave"

These are just a few reasons why people are moving to the Cleveland area.  I for one live here and love it! Went to a great restaurant (The Cabin) last night and eat some of the best Walleye I ever ate in Westlake Ohio about 20 min outside of Cleveland. I ate in that area after viewing the extraordinary  homes that line the Lake Erie shoreline.


Investing in a growing city and one that is starting to be highly noticed can only mean that Real Estate will continue to be a great investment both in cash flow and selling. Brett Young CEO Rooftopinvestment.com 

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