Cleveland, Ohio ranked as the #1 market for high-yields according to Marcus and Millichap’s “2017 Multifamily Investment Forecast.” With investors seeking the city’s strong cash flow, many turn to James Wise to help them invest in the market. James is the co-founder of Holton-Wise Property Group, which controls a portfolio worth $45 million. On this episode, he talks to us about where to invest in Cleveland, which areas he avoids and how he once had a couch thrown through a second story window.
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Key Market Insights
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The Cleveland metro market is one of the best real estate markets in the US for cash flow
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How Holton-Wise Property Group grew from $0 to $45 million portfolio in 3 years
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How to view the city grid of the Greater Cleveland Area
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Grading Cleveland Neighborhoods and suburbs
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Things you want to know about C-class neighborhoods and how to plan for them
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How point-of-sale clauses have created opportunities in four east side suburbs
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James’s recommendations for neighborhoods he tries to avoid
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The misconceptions of some out-of-town investors in Cleveland: Beware
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1 Tip to Win in your Target Market —> For every benefit there is a trade-off. Ask yourself why?
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One thing James does to stay focused on his goals? He constantly thinks about them, automates processes, and plans time for mundane tasks
Resources
The Ultimate Guide to Grading Cleveland Neighborhoods
Crain’s Cleveland Business – http://www.crainscleveland.com/
Cleveland News – http://www.cleveland.com/
Best Business Books: Multiple Streams of Income by Robert G. Allen
The Millionaire Real Estate Investor by Gary Keller
Digital Resources
Mailchimp (for Email Automation)
Tweet This:
“Know that there’s a give and take on every single thing. Every reward has its own risk.” – @JamesHWPG “You gotta put up with stuff like couches going through a second story window during a thunderstorm.” – @JamesHWPG
“If the rents are higher and prices are lower, it’s not because you found a magical area” – @JamesHWPG
Places to Grab a Bite in Cleveland:
Romano’s Macaroni Grill in Strongsville, OH
Connect with James:
Website: http://www.holtonwisepropertygroup.com/
Twitter: @JamesHWPG
Instagram: @JamesWiseHWPG
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