Real Estate Investors
Cleveland, Ohio Wholesale Deals
Thanks to its national-low price/rent ratio, Cleveland is the Best Income Property Market in the U.S.
Prices in the Greater Cleveland Market have returned to 1991 levels based on the price-to-rent ratio…
Rents are strong and renters are plentiful. The cost of housing is stable and comparatively very low. In fact using the price-to-rent ratio, the Wall Street Journal recently rated Cleveland the most undervalued market in the country. In other words, a house that would command $1,000 per month in rent costs less around Cleveland than it does in any other major market in the country. There is literally no better place to be investing in cash flow properties.
We buy properties often at great discounts. Because we acquire so many properties, we are unable to fix and sell every property we come across. Instead of passing on these deals, we often find other investors and leave most of the profit on the table for them. If you want access to our properties or would like to be alerted of any new properties we get in your area, please fill out the information form on the right.
Need to Know More?
Cleveland isn’t just the home of the Rock and Roll Hall of Fame and embittered sports fans. Cleveland is the most populated county in the seventh most populated state in the country. The Greater Cleveland Metro area is the nation’s 14th largest with just under 3 million people. The Economist recently ranked Cleveland one of the country’s “most livable” cities. Six Cleveland suburbs have made CNN Money’s Top 100 places to live over the past couple of years. It is home to three professional sports teams: The Indians, The Browns, and The Cavaliers. Cleveland boasts a surprising wealth of artistic and cultural offerings. The “Playhouse Square Center” is the country’s second largest center for performing arts, behind New York’s Lincoln Center. The Cleveland Orchestra is widely considered one of the finest in the world. There are numerous Art and Cultural Museums.
Located halfway between Chicago and New York on the shores of Lake Erie and the Cuyahoga River, Cleveland is a prime location. This geographic position made it instrumental in the industrial era–and the 7th largest city in the country at its peak. The decline of manufacturing caused some shrinkage in the population and has forced the city to redefine itself. Cleveland diversified and emerged as leader in the service industries. Northeast Ohio ranks seventh in terms of the presence of Fortune 500 firms, and has the fourth highest headquarter employment share per capita in the nation. Cleveland’s largest non-government employer is the world famous Cleveland Clinic, which has more than 37,000 on its payroll. One of the largest law firms in the world, Jones Day, is headquartered in Cleveland (as are a disproportionately large number of other firms). NASA has a headquarters in Cleveland. Several Fortune 500 companies call Cleveland home, including Eaton, Parker Hannifin, Sherwin-Williams, TravelCenters of America, KeyCorp, and Cliffs Natural Resources.
Like food? Cleveland is home to Iron Chef Michael Symon who has a number of restaurants around the city. His B-Spot has the best burger you’ve ever eaten. And be sure to try the Apple Pie Bacon Milkshake. Other new haute-spots have earned Cleveland’s food scene numerous accolades, including “best new restuarant,” “best steakhouse,” “best farm-to-table programs,” and “great new neighborhood eateries” by the likes of Gourmet, Food & Wine, and Esquire.
Saying that Cleveland has the lowest price-to-rent ratio in the country is just a fancy way of saying that a $1,000 per month income property costs less there than in any other major U.S. market. Residential real estate in the Greater Cleveland Area generates more cash for less principal outlay than any of the country’s other major markets. Our acquisition specialists are Cleveland Metro natives and know where to buy and where to avoid.
Cleveland is RIPE for investing in rental properties, and there is no better way to passively build wealth with as little risk. But, we’re not suggesting that Cleveland is a utopic land of rainbows, butterflies, and limitless treasure. There are high crime neighborhoods and a steady flow of foreclosures. But that is only in some neighborhoods. Other neighborhoods are booming! The point is: we know the difference. We only buy in neighborhoods with strong school systems, healthy median incomes, and good price-to-rent ratios. So you can invest with confidence.
Cleveland is ripe for investing. New Mercies,LLC knows the real estate market as well as the next major realty company. We know real estate investing and customer service better than anyone.