As a company Global Investments Incorporated have been selling houses in the USA for over a Decade and have over 6000 sales under there belt.
For the past 5 years the companies most demanded and best selling product has by far been Cleveland Ohio.
Like when the company sold in Detroit after this period of time in one market it would be normal for new markets to emerge with maybe a lower price point and higher CAP Rates or expected ROI. This is however not the case with Cleveland and after 5 years and over 1700 sales the demand for the city is bigger than ever and right now Cleveland Ohio still provides some of the best valued houses with solid CAP rates and returns for both the overseas and Domestic investors. Coupled with great on the ground management companies that Global have been working with for many years these types of buy to let houses really do tick a lot of boxes for most seasoned or new investors.
As a company we would have probably expected that after prices have increased over the past 5 years and investors can sometimes get bored seeing the same product or sometimes think they have missed the boat etc that we would have had to ventured into a different market. We did try a few areas like Chicago and Memphis etc but surprisingly enquiries and demand is still highest in Cleveland.
With the average single family home selling at around the $58-60k mark and Duplex’s around $70-80k and net returns anywhere between 15%-20% there are still great opportunities for investors and we expect to at least get another 2-3 years selling in the city before prices hit a high and we have to look elsewhere.
I also believe that unlike areas like maybe Detroit, the investment into the city is still pouring in and investors still see after this period of time that the city still has a long way to go and prices will continue to rise giving not only a solid ROI but potential growth as well. Companies like Key Corp, Morgan Stanley, Sherwin-Williams and individuals like Dan Gilbert are still investing heavily in the city. The City itself also spending millions of dollars improving the lower income neighbourhoods. All of these factors making Cleveland still a hot investment area for this year and into 2024. Mike Moodie CEO Global Investments Incorporated.
The Future is bright and strong for CLEVELAND OHIO.
