CLEVELAND OHIO – THE NEXT DETROIT
Prices in Detroit are on the move and there is a shortage of good stock, investors are on the look out for the next hot product that can rival the Detroit marketplace and give similar value and returns that the Motor City has given investors over that past 5 years.
Global Investments Incorporated are the biggest selling overseas Detroit company and have almost 2,500 Sales in the city. The Manchester based firm is always on the look out for the next big thing in the USA buy to let market and CEO Mike Moodie believes that Cleveland Ohio is exactly what they have been waiting for.
Located in Northeast Ohio on the southern shore of Lake Erie, Cleveland is one of the 50 largest cities in the United States. Cleveland is often known for its famous sports team and continues to develop the riverfront area between the stadiums.
Cleveland job market continues to grow with a sizeable push from the health care industry as well as large companies such as Cliffs natural resources, Forest city enterprises, Sherwin Williams, KeyCorp and NACCO Industries. With a strong demand for rental properties Cleveland presents some impressive investment opportunities for the overseas and domestic buyer. Many investors looking for good income producing properties find Cleveland to be a good balanced investment that provides steady cash flow.
Some of the main reasons why Cleveland is tipped to be the next Investment hot spot.
• 95% housing occupancy rate in downtown Cleveland (Downtown Cleveland Alliance, 2104)Cleveland is among the Top 10 job markets for new college graduates – (CNN)
• Northeast Ohio is one of the hottest entrepreneur regions in the nation – (Entrepreneur)
• Cleveland serves as headquarters to 11 companies on the Fortune 500 list, both industrial and non-industrial, including National City Corp., Eaton Corp., Parker Hannifin Corp., Sherwin-Williams Co., KeyCorp, Nacco Industries, American Greetings Corp., Ferro Corp., Medical Mutual of Ohio, Applied Industries Technologies, and Lincoln Electric Holdings (City-Data.com)
• Home to 27 area colleges and universities
• Regional Banking Hub: home to one of 12 Federal Reserve Banks
• Home to four professional sports teams
• Home of the Rock-n-Roll Hall of Fame with 7+ million visitors
• University Hospitals named one of nation’s best hospitals – (U.S. News & World Report)
• Home of the nation’s first Medical Mart
We asked CEO Mike his opinion on the Cleveland market place and he thinks that it can really rival the Detroit market with the same sales and success they have had in Detroit for the past 5 years.
Mike added. “ I have been studying the market in Cleveland for some time now and have been actively trying to source a good supply of income producing houses which we have finally managed to do. It is really important that we do our due diligence on the supplier and also the areas and neighbourhoods that the properties are in.
At the moment there are other companies selling homes for as little as $20,000 and offer projected returns of up to 30%. We really dont want to get into this price point as normally these types of homes would be in not so great areas and would need maintenance in the coming months and years which of course would eat into any rental income or projected ROI.
Our new supply of Cleveland homes are in great neighbourhoods and the properties are updated and the tenants are fully vetted ensuring that our investors get a hands off income producing property with little or no hassle. Our prices will start around the $35,000 with good real returns of around the 18-20% mark. “
To find out about what Global Investments Incorporated have to offer in the Cleveland area email firstname.lastname@example.org or go to there website http://globalinvestmentsincorporated.com/cleveland-investment-property/
“ Detroit is still going strong but in my opinion as a company we have another 12 months before the market starts to out price itself and a different type of buyer will come in. I think that Cleveland Ohio is an excellent opportunity for our investors and in time could take over Detroit in enquiries and sales. We are excited and pleased to be working with our new supplier in the region. “ Mike Moodie CEO Global Investments incorporated.