Why We Started Investing in Cleveland, Ohio
Cleveland is a great place to live and work. It combines a solid and diverse business infrastructure with numerous education centers, a thriving entertainment scene and an affordable cost of living.
We chose Cleveland as our next investment location based on
1. The current health and prospects of the metro area and
2. What we can bring in terms of added value and expertise.
1. Why invest in Cleveland?
With a population of 4.5 million, the Northeast Ohio region boasts a $170 billion economy and $12 billion invested in capital developments.
Cleveland’s economy has a range of active sectors – it includes biomedical services, financial services, healthcare and manufacturing. 70% of Fortune 500 companies maintain a strong presence in the city and ten Fortune 500 companies are headquartered here.
Having such a wide exposure to big companies and boasting over 25 universities, Cleveland is ranked in the top 10 most attractive location for graduates.
The labor market outperformed the national average, as unemployment rates dropped in all the major areas over the past year.
Real Estate Market
Cleveland was ranked as having the second most healthy real estate market in the “Health of Housing Market Report”. The Cleveland metro area is also the number one source of undervalued real estate.
The average price per square foot increased by 8.3floatr the ;ast year to $65, while the median sales price increased by 11.4% over the last year to $81,300.
2. Why Abbotsinch Capital?
In our geographical expansion, we seek metro areas that have similar characteristics to our profitable starting point in Buffalo. We can offer the same unique package of high yield, affordable properties that are already let, managed and structurally secure. Foreign investors are welcome, since our partners at B2R Finance offer great financing options for rental properties with the same focus on cash flow.