Posted August 11, 20159 yr Report: Cleveland in top 20 markets for house flippers Posted: Aug 10, 2015 5:38 PM EDT Updated: Aug 10, 2015 6:46 PM EDT By Denise Zarrella CLEVELAND, OH (WOIO) - A new report from a housing data provider shows that if you are looking to invest in real estate, Cleveland is one of the top places where you’ll get the highest return on your investment. RealtyTrac’s Q2 2015 U.S. Home Flipping Report says the average return on your investment in the Cleveland area is 51 percent. The Old Brooklyn neighborhood is a shining example of a place where an investor may want to buy. "We see all the time that homes are going up in value, along with schools and safety, and all these different things that are happening in Cleveland, like we haven’t seen in two or three generations. There's a lot of truth to that," said Jason Powers, of the Old Brooklyn Community Corporation. Flippers have many reasons for excitement in the Cleveland area, but don't use the word "flip" with Mark Lastition, manager of Howard Hanna's Cleveland office. MORE: http://www.19actionnews.com/story/29753430/report-cleveland-in-top-20-markets-for-house-flippers "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 7, 20187 yr Was checking the Cuyahoga County property transfers for last month and noticed that a single company, Exitos Capital LLC, on March 7 bought 28 residential properties mostly in troubled east-side neighborhoods. I clicked on about a third of these and the houses appear, from a streetview at least, to be in decent condition.... 3/7/18 $611,000 543 E108 3/7/18 $611,000 2827 E119 3/7/18 $611,000 3975 E120 3/7/18 $611,000 3207 E135 3/7/18 $611,000 3656 E135 3/7/18 $611,000 4091 E138 3/7/18 $611,000 3270 E140 3/7/18 $611,000 3375 E142 3/7/18 $611,000 4082 E142 3/7/18 $611,000 3370 E143 3/7/18 $611,000 3414 E143 3/7/18 $611,000 4372 E146 3/7/18 $611,000 3380 E147 3/7/18 $611,000 4007 E154 3/7/18 $611,000 10738 AMOR 3/7/18 $611,000 13810 BARTLETT 3/7/18 $611,000 13901 CHAPELSIDE 3/7/18 $611,000 11715 ELY 3/7/18 $611,000 11225 GREENWICH 3/7/18 $611,000 10211 HILGERT 3/7/18 $611,000 7716 JONES 3/7/18 $611,000 11927 MINOR 3/7/18 $611,000 7701 NEW YORK 3/7/18 $611,000 3003 NURSERY 3/7/18 $611,000 3017 NURSERY 3/7/18 $611,000 16006 SEVILLE 3/7/18 $611,000 12917 WATTERSON Never heard of Exitos Capital. They registered in Ohio through a Cincinnati attorney but are a Florida company. I'd feel better about this if it was by an Ohio company. But we'll see what happens to these homes. It was, if nothing else, an unusually large, simultaneous purchase of houses. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 8, 20187 yr They're part of the same purchase. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 8, 20187 yr No. The ones I clicked on had different individual owners. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 8, 20187 yr Oops, you're right. Not sure what I was remembering. The downside of passing 50.... So who is Grover Horne? Seems he's a pretty well connected real estate guy and owner of Loyal Landscaping. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
April 10, 20187 yr There are a lot of investors coming to Cleveland from out of town because of the cheap housing stock. Some know what they are doing and will do a good job, others will realize quickly that they are in over their heads and sell out.
May 4, 20187 yr no doubt the impact of flipping varies from place to place, but it has its downsides: https://www.metro.us/news/local-news/new-york/house-flipping-nyc-affordable-homes
May 15, 20187 yr WSJ says that house flipping peaked in Cleveland in 2017 (which doesn't mean it couldn't go higher in 2018). https://www.wsj.com/articles/wall-street-is-getting-in-on-the-house-flipping-game-1526227200?mod=searchresults&page=1&pos=9 Remember: It's the Year of the Snake
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