Latest News

E 185th Street, Cleveland Transformation

CLEVELAND, Ohio East 185th Street on Cleveland’s east side will undergo an $11.5 million transformation, a two-mile renovation, and beautification with new intersections, crosswalks, and street lights, and a new waterline. “The whole street will have a newer, more modern appearance and that will appeal to people, bring more people down here,” said Scott Hanson, who’s run Scotti’s Italian Eatery since 1999. East 185th Street is the border between Euclid and Cleveland with both cities funding the project along with the Ohio Department of Transportation, which will manage it. “I’m optimistic working with the new administration indicated, Mayor Bibb, that he wants to focus on the ‘Middle Neighbourhoods,’ which my area is,” said Cleveland City Councilman Mike Polensek of Ward 8 which encompasses the Collinwood neighbourhood. “It’s the areas that are links, outer edge links to the suburbs.” “The business along the street will — on their own — just fix themselves up, once they see how nice the street it is,” said Hanson, who expects the renovation to help the area. Councilman Polensek expects the project to take about a year. Despite its proximity to Bratenahl, the exclusive residential municipality to its west, Collinwood is a blue-collar enclave. Once a booming industrial area that boasted major railroad switching yards, a diverse array of factories and a confluence of cultures — home to vibrant Irish, Slovenian and Italian communities — the area was also home to Euclid Beach Park, the long-beloved entertainment destination. While Cleveland’s urban-revival success stories — Ohio City, Tremont and Gordon Square — are all located on the city’s near West Side, they represent a trek for suburban East Siders. Collinwood is on Cleveland’s East Side, less than nine miles from Public Square and about six miles from University Circle. The neighbourhood is an exit ramp away from the Interstate 90 corridor and a short drive from Lake County. “This has the potential to become the East Side’s Tremont,” says Polensek, “And we have approximately three miles of lakefront in this ward. Not too many other districts in the city can say that. Waterloo is less than a mile from the lake.” During a walk through the neighbourhood, Polensek says that about $4 million has been committed to structural and cosmetic improvements. (Friedman says the figure is closer to $5.5 million, a combination of federal transportation dollars matched by city funding. Additionally, two arts grants totaling $1.1 million are being invested in the neighbourhood.) Repairs to the roadway and curbs, new, widened sidewalks, public furnishings and other pedestrian-friendly amenities, plus new noise-reduction walls and rebuilding nearby Lakeshore Boulevard, are set to begin.

Cleveland Clinic Cleveland Clinic announces $1.3 billion in projects, including new Neurological Institute on its main campus in Cleveland

Located in Cleveland, Ohio, Cleveland Clinic is a nonprofit, multi-specialty academic medical centre that integrates clinical and hospital care with research and education. The Cleveland Clinic announced on Friday that it will invest $1.3 billion in capital projects including new buildings and renovation of facilities in Ohio, Florida, and London. To help make way for one of the biggest projects, a new, 1-million-square-foot Neurological Institute between East 86th Street and East 90th Street on its main campus in Cleveland, the Clinic said it would demolish the historic Cleveland Play House complex at East 85th Street and Euclid Avenue. The Play House includes the theatre’s original 1926 building and a 1983 expansion designed by architect Philip Johnson, a Cleveland native who became one of America’s most important 20th-century architects. The Clinic acquired the Play House property in 2009 when the theatre company moved to Playhouse Square in downtown Cleveland. In the Clinic’s announcement, CEO and President Tom Mihaljevic said that “our services have never been in greater demand.’’ He said the new construction projects “reflect the needs of our organisation and will ensure cutting-edge care for the next generation of patients. By building, partnering, and innovating with technology, we are preparing current and future caregivers to deliver the best care.” The Clinic released a rendering of the Neurological Institute building, which will be designed by London-based Michael Hopkins Architects and Cleveland-based Stantec. On the main campus, in addition to the Neurological Institute building, Clinic plans to expand its Cole Eye Institute building and expand research facilities through its commitment to the Cleveland Innovation District. The district is a joint project of the Clinic, MetroHealth System, University Hospitals, Case Western Reserve University, and Cleveland State University to collaborate on research and job creation. The State of Ohio and JobsOhio invested $200 million in the project, and the Clinic invested $300 million. The new projects announced by the Clinic will be funded in large part by philanthropy, and will add more than 2,000 indirect and 7,500 direct jobs, the institution said. The Clinic’s news release stated that the Neurological Institute will provide inpatient and outpatient care, along with imaging and surgical services and research laboratories. The building’s mission will include investigating the function of the human brain and developing new neurological treatments. Neurological services are currently located at several locations on the main Clinic campus, which stretches across 165 acres between the Midtown neighbourhood and University Circle. The new facility is intended to bring neurological caregivers and services together in a single place to facilitate collaboration. The design and planning of the project are supported by a $10 million donation from the Charles L. Shor Foundation, the Clinic said. In honour of the gift, the Clinic is naming its epilepsy centre The Charles Shor Epilepsy Centre. Work on the project will begin this year with the first patient expected to be seen in 2026. The Cole Eye Institute at the Cleveland Clinic, a Cesar Pelli building, will soon be expanded. The area to be cleared by the demolition of the Play House complex “will initially be used to support the building of the new neurological building where all equipment and vehicles will be contained on Cleveland Clinic property during construction,’’ the news release said. “This will ensure that local residents have uninterrupted access to parking in their neighbourhood during this time.” Architect Philip Johnson brought together old and new elements in his 1983 design of the Cleveland Play House complex at 8500 Euclid Ave. The Clinic said in its news release that potential long-term plans for the Play House site could include “a new mixed-use neighbourhood development project.” Further east on the main campus, at Euclid Avenue, between E. 100th and E. 105th streets, the Clinic plans to add 150,000 square feet to its Cole Eye Institute building, plus additional renovations. The project will add additional operating rooms and procedure rooms. Donors Jeffrey A. Cole and his wife Patricia O’Brien Cole have made a $31 million commitment for the expanded clinical and surgical capabilities at the Cole Institute, and to enhance research and education there. The expansion will be named the Jeffrey and Patricia Cole Building, the Clinic said. An additional $10 million grant from the Timken Foundation of Canton helped support the planning for the Cole expansion and established The Louise Timken Ophthalmic Education Center, the Clinic said. A groundbreaking ceremony for the project will be held on Friday, May 20, and the completion of the institute’s expansion is expected at the end of 2025. The Clinic called the project the largest research effort in its history. Its goals include positioning “Northeast Ohio at the forefront of pathogen research and preparing for the next pandemic.”

The Detroit housing market is not cooling down !

Detroit had a rollercoaster year last year with many ups and downs, it seen the re-opening of nightlife and restaurants but also seen the closure of many small business due to the after math of the pandemic. 2022 is full steam ahead for Detroit, with the revitalization of long-abandoned historic landmarks to affordable housing developments, safer streetscapes, urban forests and exciting new projects across the city, there is a lot to look forward to in 2022. Detroits new development projects include. Joe Louis Greenway: A 27-mile loop for biking and hiking, starting at the Detroit Riverfront and passing through Dearborn, Hamtramck, and Highland Park. Ford’s Mobility Innovation District: A walkable 30-acre Corktown campus next to the renovated Michigan Central Station that will serve as the automaker’s hub for research and development for a range of new mobility products, from self-driving cars to non-gas vehicles. Love Building: Once this space is completed, the Allied Media Projects will share it with Detroit Community Technology Project, Detroit Disability Power, Detroit Justice Center, Detroit Narrative Agency, and Paradise Natural Foods to promote unity and social justice in the community. Dreamtroit: A mixed-use development with 81 apartments and 38,000 square feet of commercial space. Osi Art Apartments: A colorful, four-story, 30-unit housing complex in Woodbridge, half the units are set aside for people with household incomes of less than $60,000 and commercial space is available for rent. Former Michigan State Fairgrounds turn to Amazon Distribution Center: 142 acres, 78 of which are currently being leased to Amazon, will be turned into a distribution center that will employ approximately 1,200 workers. All of these new developments are having a positive impact on the housing market, the Detroit housing market is seeing traditional seasonal trends, which may present a window of opportunity for buyers looking to invest in rental property in Detroit. Of the 180 neighborhoods in Detroit, the most expensive neighborhood to buy a home is Boston Edison West where the median listing price is $305,000. The highest residential sale in Detroit was recently recorded, the Fisher Mansion at 1771 Balmoral in Palmer Woods recently sold for $4.9 million to Stellantis North America COO Mark Stewart and Antonio Gamez Galaz. But we do need to take into consideration the soaring inflation rates, we see a 8.5% inflation rate, being the highest seen in the past 41 years. There also has been an increase in interest rates, in just the past 60 days we have seen mortgage rates for a 30 year fixed climb from an average of 3% all the way up to 5.13% for a new mortgage. But no matter how you look at it 5.13% is still a decent inters rate, it has risen to nearly 7% , there might be a slight decrease in buyers in the real estate market, but not enough to cause any sort of a ‘bubble burst like we seen in the past. This is why now is the time to buy in Detroit, with so many developments taking place its attracting new residents to the City, this is pushing up rent prices, even with interest rates beginning to rise, by waiting a year for rates to drop back down near 4%, the increase in home values will cost you more than the increased interest rate. In fact, higher rates could be contributing to a sense of urgency for buyers to find a house before rates rise further, although one different than the “fear of missing out” urgency that was more common last year and the year before following the initial surge of COVID-19. “The fact is for every house that hits the market, there are at least four or five buyers that are attempting to get it,” said Realtor Teri Spiro, president of the Greater Metropolitan Association of Realtors. “The shortage of entry-level housing is really almost catastrophic If you would like to see any of great Detroit properties please invest@globalinvestmentsincorporated.com

Amazon expanding in Cleveland & Slavic Village

Amazon is reportedly pivoting to a new site for a distribution centre on the southeast side of Cleveland yet would remain in Slavic Village, according to two sources familiar with the project. The global giant will apparently be the anchor for a new warehouse development on a 40-acre site that could grow further if additional properties around the fringes are added to it. The site, between the east side of Interstate 77 and East 55th Street, is owned by trucking firm Morabito Enterprises Inc. It intends to sell the bulk storage facility to Atlanta-based Stonemont Financial Group to develop with two or three separate warehouse structures totalling 500,000 square feet. Nearly two years ago, Amazon had considered locating in another Slavic Village development site on the west side of I-77. That location, the Job Ready Site in the Cuyahoga Valley Industrial Center (CVIC), would have hosted a 112,000-square-foot Amazon delivery station to be called DCL6 (the sixth Delivery Center Cleveland). But Amazon favoured development of a 123,355-square-foot facility, now under construction at a former drive-in movie theatre site on Memphis Avenue in suburban Brooklyn. The 40-acre plot in the CVIC is under consideration for Cuyahoga County’s new consolidated jail facility, or for relocating a container shipping yard to open up another potential jail site near the main post office closer to downtown. Both of those options have met with opposition from Cleveland City Council, led by Ward 12 Councilwoman Rebecca Maurer. Amazon hasn’t given up on building a distribution centre on the city’s southeast side.Their latest acquisition was the 1.273-acre site of the former Mound Elementary School on Mound Avenue at East 55th. Acquisition of that vacant plot by the Morabito-Slavic Village Development partnership won approval in November from the City Planning Commission. Additional properties are being sought to give greater flexibility in placing large structures and parking areas for workers and trucks on the site. That may include acquiring more than a dozen mostly vacant residential parcels north of Mound as well as vacating Eliza Avenue plus portions of East 53rd and 54th streets. The Morabito site was re-platted by the county at the end of December as a single parcel that also removed several dead street rights of way through the site, including for a portion of East 52nd Street and the entirety of Morgana Avenue. However, even if the Morabito land transferred today, it will still take up to two years to level the site, install new sanitary and storm sewers, electrical and communications lines, access roads, parking lots and construct new buildings for Amazon and other as-yet unidentified tenants. But the demand for light-industrial and logistic/shipping facilities in Greater Cleveland exceeds supply. Much of that demand has been provided by the growth in e-commerce. In just the last few years, Amazon has leased these new “Delivery Center Cleveland” facilities to serve the Greater Cleveland market: CLE1 – 2020 Euclid Ave, Cleveland (Hub Locker) CLE2 – 21500 Emery Rd, North Randall, 855,000 SF CLE3 – 1155 Babbitt Rd, Euclid 850,000 SF CLE4 – 2550 Columbus Road NE, Canton, 1 million SF CLE5 – 8685 Independence Pkwy, Twinsburg 248,000 SF There are also these Amazon delivery stations, which is what the Slavic Village facility would reportedly be: DCL1 – 26555 Bluestone Blvd., Euclid, 127,020 SF DCL2 – 2823 Gilchrist Rd., Akron, 640,000 SF DCL3 – 12111 Debartolo Dr., North Jackson, 43,200 SF DCL4 – 24800 Miles Rd., Warrensville Hts., 145,200 SF DCL5 – 2040 S Reynolds Rd., Toledo, 150,000 SF DCL6 – 10575 Memphis Ave., Brooklyn, 123,366 SF DCL7 -10801 Madison Ave., Cleveland, 168,750 SF Global Investments have seen a sharp increase in demand for properties in the Slavic Village area mainly fuelled by investor demand. The smart investor is not looking to buy and flip properties immediately. A property purchase in Slavic Village today could look like a bargain in 2-3 years time when Amazons plans have been completed and the infrastructure is in place. Supply certainly will be highly demanded for employees and that will only increase prices. If you are interested or wish for a call and more information on the latest properties Global Investments can offer in this location then please email us today at : invest@globalinvestmentsincorporated.

The Rochester housing market is booming

Although the real estate market is normally pretty stable, the year has been different, but in a good way as far as real estate investors are concerned. Inventory is 40% lower than 2020 while median home prices in Rochester have increased by over 10%. The local real estate association predicts the trend of rising home prices in metropolitan Rochester will continue as buyers from Boston and New York City look for more affordable real estate in smaller, more liveable cities. The economy in Rochester is the 4th largest in the state, driven by a diverse mix of industries including science and technology, research and development, and advanced manufacturing. Many houses and commercial buildings in downtown Rochester date back a century or more, with many properties being renovated right now. Rochester has a great quality of life and a low cost of living, making the area attractive to families and millennials alike. Keep reading to learn why the Rochester real estate market remains a good place to invest. As scientists forecast a massive population migration to more liveable areas, one of the top places to live in the next 50 years will be Rochester The national median sale price for single-family homes was 1.5 percent higher in October 2021 compared with the price in the last three weeks in September, according to Redfin. Median home sale prices were 13 percent higher than those in October 2020 and 30 percent higher than those in October 2019. The housing market in Rochester was extremely hot over the summer. Prospective investors have to be quick if they are looking for a good value investment home. Global Investments predict 2022 will increase just as much as previous years and make Rochester one of the top places in the U.S. to invest. Rochester has all the ingredients, great prices, high rental yields, lowering inventory and potential fantastic capital appreciation. Get in touch today invest@globalinvestmentsincorporated.com

Flint, Michigan. Why you should consider investing now ?

Flint, Michigan. Why you should consider investing now ? Known as “ The Vehicle City “ Flint is the largest city and seat of Genesee County, Michigan, United States. Located along the Flint River, 66 miles northwest of Detroit, it is a principal city within the region known as Mid Michigan. According to the 2020 census, Flint has a population of 81,252, making it the twelfth largest city in Michigan. After considerable research Global Investments with their professional contacts in the U.S. have just released buy to let investment property in Flint, Michigan. For a seasoned buy to let property investor there are many factors that sway decision. Obviously the main factors are, price, rental yield and potential capital appreciation. Global Investments started business nearly 10 years ago selling investment property in Detroit. Many people at the time were harshly critical of the area and potential. It is very easy to simply read one side of the story and listen to the negativity surrounding the demise of the once bustling city filled with business and opportunity. 10 years ago Global Investments were selling an average three bedroom, brick built single family home for less than $25,000 in Detroit. The increase in demand and steady growth of Detroit is still continuing however to purchase that same property it will now probably cost you close to $60,000 Our early investors ( that we still deal with ) have been extremely happy with their decision. Who can blame them ? Now, we are not making any statement that Flint will mirror Detroit however there are current statistics and trends that are peaking the interest of many savy long term investors right now in Flint. The first thing to mention is price. One of the many reasons that sales slowed down in Detroit over the last few years which catapulted Cleveland, Ohio into one of our busiest regions was the ability to enter into the market at a very low cost. Property prices is Flint are incredibly low right now which enables a larger audience to look at getting on the investment ladder. So to begin let’s get the “ Elephant in the room “ out of the way and explain why properties dropped so considerably in Flint, Michigan. Quite simply put it was the water scandal. It began in 2014, when the city switched its drinking water supply from Detroit’s system to the Flint River in a cost-saving move. Inadequate treatment and testing of the water resulted in a series of major water quality and health issues for Flint residents. This stemmed from the tragic decision in 2013 to end the city’s five-decade practice of piping treated water for its residents from Detroit in favour of a cheaper alternative: temporarily pumping water from the Flint River until a new water pipeline from Lake Huron was built. Although the river water was highly corrosive, Flint officials failed to treat it, and lead leached out from ageing pipes into thousands of homes. One of the few bright spots of the Flint water crisis was the response of everyday citizens who, faced with the failure of city, state, and federal agencies to protect them, united to force the government to do its job. On the heels of the release of test results in the fall of 2015 showing elevated lead levels in Flint’s water—and its children—local residents joined with NRDC and other groups to petition the U.S. Environmental Protection Agency (EPA) to launch an immediate emergency federal response to the disaster. Those efforts paid off. In November 2016, a federal judge sided with Flint residents and ordered the implementation of door-to-door delivery of bottled water to every home without a properly installed and maintained faucet filter. A more momentous win came the following March with a major settlement requiring the city to replace the city’s thousands of lead pipes with funding from the state, and guaranteeing further funding for comprehensive tap water testing, a faucet filter installation and education program, free bottled water through the following summer, and continued health programs to help residents deal with the residual effects of Flint’s tainted water. Since then the state provided more than $350 million to Flint, in addition to the $100 million from the federal government – all of which is helping with water quality improvements, pipe replacement, healthcare, food resources, educational resources, job training and creation, and more. For five years in a row Flint’s water has been meeting federal standards. The water is now testing at 3 parts per billion (ppb) which is much lower than the federal requirement of 15 ppb. Flint’s water is one of the most monitored and testing the same as similar cities across the state and country. Obviously during this scandal many people and businesses left the City and the housing market plummeted. But things are changing, with the number of homes on the market continues to be near historic lows, which has driven prices up. Strong demand for housing among millennials, along with low interest rates, have tightened the market still further. Lumber prices are higher than normal, too, which has pushed up the price of new construction. With these factors and also the continuing exodus in many major cities in the US for more affordable housing in the suburbs has caught the eye of long term real estate investors. Flint, Michigan’s Real Estate is again starting to slowly move in the right direction and with prices so low and without the water issue hanging over its head the potential for capital appreciation in the coming 10 years could eclipse Detroit ! So what are the facts : Prices increased 0.39 percent from February to March in the Flint MI Metropolitan Statistical Area, according to the CoreLogic Case-Shiller Index, one of the leading trackers of the housing market. Prices are up 8.80 percent from March 2020. Forecasters are expecting increases for 2021 – 2022 to increase by at least a further 8% and possibly into double figures. Once confidence

The Rental Market in Rochester & Why an increasing amount of people choose to live in Rochester, NY

Across the largest cities in the USA, rents have been growing at a slower pace since the onset of the COVID-19 pandemic early last year. In January, this slowing trend may have found its bottom, as a more optimistic outlook on 2021 has set in with continued news of relief and vaccines. Rents at the national level, calculated by averaging the top 50 largest metros, are still growing below pre-COVID rates. The median rent in January was $1,442, up 0.8 percent year-over-year. In March, rents were growing by 3.2 percent year-over-year. Rent growth may have found a floor, as January marks the first month since July where the trend has not slowed compared to the previous month. Some markets are seeing rents grow by double digits. Rents are rising in many of the same markets where home prices are rising. Many of the same factors that attract homebuyers — good schools, job opportunities, affordability, and more — attract renters, and the rental trends reflect that reality. Metros such as Rochester, NY which is one of the region’s topping the list of largest year-over-year rent growth. Also among one of the metros with the fastest-growing home prices. The expensive markets of Los Angeles and San Francisco are driving renters to more affordable housing further inland. And with working-from-home as the new normal, Rochester offers more affordable options without sacrificing too much in terms of proximity to the major hubs. This welcoming town south of Lake Ontario was known as Flour City in the 1800s, thanks to many flour mills located along waterfalls on the Genesee River. Then, when nurseries and seed production replaced the grain industry, it switched monikers to the very lovely sounding Flower City. These days, this upstate town is best known for its world-class educational institutions (like the University of Rochester), many parks and frequent festivals. Locals enjoy a low cost of living, with U.S. News giving Rochester a score of 7 out of 10 in its value ranking, noting that “Rochester offers a better value than similarly sized metro areas when you compare housing costs to median household income.” The organisation also ranked Rochester as number two in best places to live in New York, and last year, realtor.com ranked the city number six on its list of hottest real estate markets in the country ! As Bloomberg recently reported, many native New Yorkers are fleeing the Big Apple for the safety and security offered by smaller cities like Rochester. .Over the last 12 months, the cost of leasing a one-bedroom dropped by almost 22 percent in New York City and more than 19 percent in Boston, bringing their median rents to $2,350 and $2,020, respectively. Closer to home, the median for the Buffalo market fell by just a hair over 7 percent, to $1,050. By contrast, the median rent for a one-bedroom apartment in the Rochester area last month was $1,010, 4.1 percent higher than a year earlier. The Greater Rochester Association of Realtors has found that not enough homes are for sale in the Rochester metro area to meet current demand. The shortfall has helped drive up the median price of a home to $161,000, a 9.2 percent increase over 2020. These statistics based on an incredibly tough year shows why Global Investments have decided to move into the Rochester market. If you would like more information regarding properties in Rochester upstate New York then please email the team at : invest@globalinvestmentsincorporated.com

Welcome to Rochester City the next investment hotspot

Global Investments Incorporated are pleased to announce the new launch of Rochester City New York. Ten years ago we started our company selling properties in Upstate New York and we then diversified into other States in the US. We lead the way in cities like Cleveland, Detroit, St.Louis and Baltimore and have now come back to Rochester as it has been ear marked to be the the next best investment city in the US. We have been working hard to get our clients the best priced properties available today, Rochester has seen large capital appreciation in the last 10 years due to huge investment taking place in the City, by partnering with the largest Agents in Rochester including Remax we have managed to secure the best performing properties available. So why is Rochester City on the radar for the next best investment hotspot ? At the moment the City of Rochester is looking for input on how to invest $202M in federal funds it received into the City, this does not include the millions that have already been invested. The $202 million is part of the $65 billion distributed to cities nationwide as part of the stimulus bill. The money will be used over a two-year span, the city already received $101 million in the middle of May. Rochester over the last few years has seen $115 Million in new capital investments from several great stable companies such as, General Motors, General Electric, Natcore Technology, and Alpina Foods just to name a few. The economy in Rochester is the 4th largest in the state, driven by a diverse mix of industries including science and technology, research and development, and advanced manufacturing. According MIT Economics Rochester is the top metro in the US for future growth and strategic investment in tech innovation. With a work force that produces more patents and the 2nd most renewable energy patents in the world. Rochester is in the top 5 in patents per capita (Forbes). Rochester, NY is recognized as one of the 25 most innovative cities in America based on patent registration and advanced degrees. Rochester is the third most populated city in New York State, after New York City and Buffalo. The colleges and universities attracts students from all over New York State including New York City, In U.S. News and World Report’s 2021 evaluation of nearly 18,000 public high schools, 10 schools in the Greater Rochester, N.Y. region are among the top 10 percent. News & World Report also stated that Rochester is the 13th Best Place to Live in the U.S. for Quality of Life. Short commutes and high-quality education were key factors. Rochester has a great quality of life and a low cost of living, making the area attractive to families and millennials . The population of Rochester is just over 205,000 with more than one million residents living in the Rochester metropolitan area. The City offers its residents a very quick commute time, you can be anywhere in the City within 20 minutes. You also have Rochester International Airport, you can be in NYC, Chicago, Pittsburgh, Cleveland within two hours or less, the commute time is 25% shorter than the rest of the nation. To summarise the key points of why you should be looking at Rochester Very stable housing market showing good capital appreciation. Strong cap rates with established management companies. High quality of life with low living costs. Huge investments in the city from the US Government and private sector. Large influx of millennials relocating. One of the best education systems in the US Easy commute time and accessible to many large US Cities Many stable anchor companies, industries, medical and universities Excellent medical facilities and Universities Healthy business economy Great schools, world-class attractions, year-round festivals and cultural events, and a low cost of living. The Greater Rochester, NY region is the real deal. If you would like more information on our great properties in Rochester please email invest@globalinvestmentsincorportaed.com

The Cleveland Real Estate Market 2021

Cleveland Ohio has been the best selling product for Global Investments for the past 3 years and is still going strong with a huge demand by both overseas and domestic investors. More than 50% of the households in Cleveland are occupied by renters, making the market perfect for rental property investors. Many recent reports have Cleveland as no.5 on the list of top housing markets to watch in 2021. The real estate market in Cleveland is competitive, with some homes going under contract the same day they are listed. One reason homes are selling quickly in Cleveland is that prices here are still very affordable, with the median listing price for a home in Cleveland only $100,000. Global Investments work with some of the top turn key suppliers and have available renovated and tenanted houses from as little as $55,000. The diversified economy helps keep the rental market strong in Cleveland. For a city that once relied on the manufacturing industry for growth, Cleveland has done a remarkable job of transforming its economy into a well-balanced blend of service, high tech, blue and white collar employment. Located along the southern shore of Lake Erie, Cleveland is just across from the Canadian border. The metro area is home to the Rock and Roll Hall of Fame, one of the worlds finest orchestra and major professional baseball, football, and basketball teams. Here’s just a few reasons why Cleveland could be one of the best places to invest in rental property in 2021. POPULATION GROWTH In its in-depth study, “The Fifth Migration: A Study of Cleveland Millennials”, the Cleveland Foundation reports Cleveland ranks among the top 10 U.S. cities for population growth of college-educated millennials. That’s great news for rental property investors, because as CNBC recently noted, rental demand across the country is soaring as more millennials say it’s cheaper to rent than to own. Key Population Stats: Cleveland has a city population of nearly 400,000 and a metropolitan population of more than 2 million, ranking Greater Cleveland as the 33rd-largest metro area in the U.S. Population of Cleveland has declined 0.09% year-over-year. Net migration in Cleveland has remained steady, decreasing by only 870 residents since 2018. The median age of people in Greater Cleveland is 41, with about 37% of the population between the ages of 20 and 49. In the City of Cleveland, the median resident age becomes more youthful, dropping down to about 36 years. JOB MARKET The unemployment rate in Cleveland is down to just 5.8% (as of Nov. 2020), according to the U.S. Bureau of Labor Statistics (BLS). As the economy in Cleveland continues to recover, job sectors showing the fastest signs of recovery include construction, manufacturing, and financial activities. While job growth in Cleveland has historically lagged behind some of the city’s peers, a recent report in Crain’s Cleveland Business notes that economic growth in Cleveland surpassed Tulsa, Albuquerque, and Memphis. The renewed focus on space exploration is good news for the fuel cell industry and the NASA Glenn Research Center in Cleveland. Companies with corporate headquarters in Cleveland include Applied Industrial Technologies, Cliffs Natural Resources, and Sherwin-Williams Company. The Federal Reserve Bank of Cleveland, one of only 12 Reserve Banks in the U.S., is in downtown Cleveland. Key Employment Stats: GDP of Cleveland is more than $118 billion, an increase of more than 12% over the past 10 years. Employment growth in Cleveland is 1.43% year-over-year, while median household incomes have increased by 7.08% over the same period.e metro area. The healthcare sector is one of the major employers in Cleveland, including the Cleveland Clinic, University Hospitals of Cleveland, MetroHealth, and Medical Mutual of Ohio. Biotechnology, fuel cell research, and technology are three of the growing employment sectors in Cleveland. In fact, Forbes recently speculated that Cleveland might become the country’s next technology hub. Despite the shift to professional service and high tech business, construction and manufacturing in Cleveland still account for a significant amount of employment growth. Nearly 3,000 new manufacturing jobs were created over the last couple of years, while the construction industry added more than 1,700 new jobs during the same period. Since 2009, per capita income in Cleveland has steadily grown and is now at $34,200 while median household income is $57,228. Nearly 32% of the adults in Cleveland hold an undergraduate degree or higher, about 10% higher than the rate in Ohio. Cleveland is served by five Interstate Highways and several freight railroads. The Port of Cleveland is a major bulk freight terminal on Lake Erie. More than 5.8 million domestic and international passengers traveled through the Cleveland Hopkins International Airport (CLE) through the first half of 2019, while shipping facilities at CLE have handled more than 51,000 tons of cargo over the same time period. Playhouse Square in Cleveland is the 2nd-largest performing arts center in the country, right behind New York’s Lincoln Center, and the Cleveland Museum of Arts is home to more than 40,000 works. Real estate investors who are pro sports fans will find Cleveland offers a winning combination: Major League Baseball’s Cleveland Indians, the NFL’s Cleveland Browns, and the NBA’s Cleveland Cavaliers. REAL ESTATE MARKET Cleveland is ranked as one of the top housing markets to watch in 2021 by Forbes. The affordability of single-family homes in Cleveland is especially appealing to remote real estate investors and to people working from home. Successful real estate investors know how to make money in any market cycle, which is one reason people are investing in Cleveland rental property. Cleveland is one of the most recession-resistant markets in the U.S., according to Crain’s Cleveland Business. When measured by the investment variables of home price volatility, home sales flips, average loan-to-value, and home price-to-income ratio, Cleveland ranks as one of the top four markets with the lowest risk of a real estate dip. Key Market Stats: Zillow Home Value Index (ZHVI) for Cleveland is $79,166 through November 2020. Home values in Cleveland have increased by 18.8% year-over-year and are forecast to grow by another 13.1% in the next 12 months. Over the past five years home values in Cleveland have increased by nearly 76%.

The resurgence of Detroit and why you should invest in 2021

The rental real estate market in Detroit is crazy right now, which is just the thing real estate investors want to hear. Demand for single-family rentals is skyrocketing, and the median price of a single-family home in Detroit is well below $100K, offering an amazing opportunity for rental property with solid yields and cash flow. The Motor City is famous for its innovation and work ethic, yet the decline of the domestic auto industry and the devastating effects of 2008 had some questioning whether Detroit could make a comeback. The verdict? Detroit real estate investing has attracted many new investors, especially those who know where to look. With high-end retailers like Whole Foods moving in, and high tech stalwarts like Microsoft, Google, and Pinterest opening offices, Detroit’s future is looking bright. That’s good news for the housing industry and good news for investors. So what are the upsides and challenges of investing in the Detroit real estate market in 2021 ? Population Growth Although the population of Detroit has been slightly declining, the city is seeing an influx of millennials. As the Detroit Chamber reports, over the last decade metro Detroit saw the second highest growth among peer cities for populations between the ages of 24 and 35. Key Population Stats: Detroit is home to about 670,000 people in the city and more than 4.3 million residents in the metropolitan area. Detroit is the most populous city in Michigan, the largest city on the U.S.-Canadian border, and the second largest metropolitan area in the Midwest after Chicago. Median age in Detroit is 39.9 years with 38% of the population between the ages of 20 and 49. Per capita income in Detroit is $35,315 while median household income is $63,474. Job Market The 11-county Detroit region is home to more than 300 municipalities and 300,000 businesses, including 11 Fortune 500 companies and numerous educational institutions. As the Detroit Chamber reports, metropolitan Detroit is home to robust technology infrastructure and a workforce recognised around the world for its skills, expertise, and productivity. Key Employment Stats: GDP of the Detroit-Warren-Dearborn, MI MSA is over $237 billion, according to the Federal Reserve Bank of St. Louis, and has grown by more than 28% over the last 10 years. Employment growth in Detroit is 1.77% year-over-year with the metro area home to over 2 million employees. Median household incomes in Detroit grew by 3.6% year-over-year while median property values increased by more than 5% over the past 12 months. Unemployment rate in Detroit is down to 8.9% (as of Nov. 2020) with the construction, information technology, and financial activities sectors showing the fastest signs of new growth. Key industry clusters in Detroit include automotive and mobility, defence, health care, information technology, and transportation, distribution, and logistics. Largest employers in the Detroit region are Ford Motor Co, General Motors, Ally Financial, University of Michigan, Beaumont Health, and Quicken Loans. Major colleges and universities in Detroit include University of Michigan, Wayne State University, and Lawrence Technological. 91% of the residents of Detroit are high school graduates or higher, while over 32% hold a bachelor’s degree or advanced degree. Real Estate Market Northern Michigan’s housing market is “on fire”, according to The Detroit News. The real estate market is helping to fuel the red hot market, with the median list price of a single-family home in Detroit well below $100,000. Opportunistic real estate investors may find Detroit the perfect market to acquire very affordable rental housing for all cash, then refinance at a later date. As The Wall Street Journal reports, lack of credit is making it hard for local residents to buy a home. That may be one reason why almost half of the households in Detroit rent rather than own. Key Market Stats: Zillow Home Value Index (ZHVI) for Detroit is $43,113 through November 2020. Home values in Detroit increased by 12.0% last year and are projected to grow by another 12.2% during the next 12 months !! Over the last five years home values in Detroit increased by over 92% ! Median listing price of a single-family home in Detroit is $65,000 based on the most recent report from Realtor.com (Nov. 2020). Median list price per square foot for a home in Detroit is $58. Median selling price of a single-family home in Detroit is $60,000 Sale-to-list price ratio is 95.05%, meaning that homes in Detroit are selling for 4.95% below the asking price on average. Strong Renters’ Market According to ClickOnDetroit.com, single-family rentals are skyrocketing, as tenants leave apartments to rent a home they can call their own. Key Market Stats: Median rent in Detroit is $983 per month for a 3-bedroom home, based on the most recent research from Zumper (Jan. 2021). Rents in Detroit have increased by 16% year-over-year. Over the past three years average rents in Detroit have grown by nearly 23%. Renter-occupied households in Detroit account for 44% of the total occupied housing units in the metropolitan area. Millennials and Generation Z make up 38% of the population in Detroit. Quality of Life Many real estate investors are surprised to learn that Detroit has been experiencing a renaissance over the last few years. New housing and businesses in the city’s Midtown, Downtown, and New District areas are attracting residents and visitors. Millennials are attracted to Detroit by the low cost of living, affordable rentals, and vibrant neighbourhoods. Key Quality of Life Stats: Cost of living in Detroit is 18% less than Chicago, according to NerdWallet’s cost of living calculator. Forbes ranks Detroit as one of the best places for business and careers in the U.S., with the city home to a variety of companies in emerging technologies such as nanotechnology and hydrogen fuel cell development. Detroit is one of the best places to live and a great place to retire, based on the most recent research by U.S. News & World Report. The 73-story, 7-skyscraper GM Renaissance Center in Detroit is one of the most photographed landmarks on the