Get Rich Education 205: A Diamond In The Rust Belt
#205: A dollar is not money. Money serves three purposes. It is a:
#1: Medium Of Exchange
#2: Unit Of Account
#3: Store Of Value
There is an opportunity for you to invest in cash-flowing real estate in Cleveland (link).
After discussing the roles of money, currency, and real assets, we discuss the Cleveland, Ohio real estate investing market.
Generally, if a place is too desirable to live in, it is a bad place to invest in long-term rental real estate for cash flow. But it must be attractive enough to retain residents.
Cities must reinvent themselves when manufacturing wanes. Cleveland has doubled-down on medical technology and has become a world leader in health care.
Eight Fortune 500 companies are headquartered here. The Cleveland Clinic is a world health care leader.
Neighborhood selection, pockets for long-term appreciation and cash flow discussed.
Typical in Cleveland: 3 BR / 2 BA, $700 - $1,000 rent, $80,000 price, 2% property tax.
This provider: financing-friendly, in-house management, guarantees, annual inspection, give tours.
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1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my best-selling paperback: getbook.at/7moneymyths
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Listen to this week’s show and learn:
02:06 Money and currency roles.
04:08 Real assets.
05:53 “Too desirable” to live in a place.
10:18 Medical and technology replaces manufacturing.
11:00 Why companies are spending more to renovate homes.
16:24 Cleveland culture.
19:12 Fortune 500 companies - eight headquartered in Cleveland.
21:49 Forbes named Cleveland the top cash-flowing rental market.
24:22 Why SFHs?
29:58 Typical: 3 BR / 2 BA, $700 - $1,000 rent, 2% property tax.
32:04 Provider, financing-friendly, in-house management, guarantee, annual inspection.
35:45 Interested? Get the investing report at www.GetRichEducation.com/Cleveland.
Resources Mentioned:
GetRichEducation.com/Cleveland
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com