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Old 07-11-2007, 01:51 PM
 
Location: East Tennessee and Atlanta
5,142 posts, read 9,382,432 times
Reputation: 3796

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I'm looking at some properties in and around Akron, OH for investment. I live in CT/NYC and am looking at multi-family apartment buildings in the 5 unit to 15 unit range. I've seen some pretty damn good buys on some listings recently. Wondering about the overall outlook for Akron and the worst parts/best parts of the city. The city is in the rust belt, and has lost some population. But is it turning a corner for the better or worse? Much appreciated. Thanks. Brad
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Old 07-15-2007, 05:11 PM
 
2,179 posts, read 6,704,361 times
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jj,
i have a friend who owns over thirty house in akron. its a buyers market he gets them from 5000 to 14000 slaps some paint on them and a little plumbing work and rents them for 500 mostly 2 units per house.
the pop. has decreased but it seems that its not that bad and getting better, to make money you must buy cheap in the bad neighborhoods install pvc plumbing (for it will be stolen ) and if your in nyc let a rental agent handle it for 8 to 10 pct!
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Old 07-16-2007, 11:38 AM
 
Location: East Tennessee and Atlanta
5,142 posts, read 9,382,432 times
Reputation: 3796
Good info, thank you.
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Old 07-16-2007, 01:50 PM
 
Location: Grafton, Ohio
286 posts, read 1,492,129 times
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Default A lot of houses available in the smaller communities

Don't hesitate to check out smaller communities around Akron or Canton for cheap houses. There is a market for those of us that want a decent rent price (when luxery apts really don't appeal because we'd rather save our pennies towards retirement than having a community pool/spa that we'll never get around to using) but want to be in quiet communities away from crime or larger city hussle n bussle. Rittman and Doylestown come to mind, but there are many more out there.
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