Market Conditions in 44145>Question Details

 Philippa, Real Estate Pro in Westlake, OH

How does Westlake rate in the rental market? Is it a good place to invest in a rental property?

Asked by Philippa, Westlake, OH Wed Feb 6, 2008

If so, what would you consider to be the best type of rental property in this area i.e condo, single family home etc.
Thank-you.

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Answers

4
I wouldn't be looking in Westlake for rental property, it's more upscale homes and latte liberals ... and RTA transportation (even though excellent by anyones standards) is still going to be farther and more inconvenient to most of that market because it's more similar to Avon.

Rocky River, Fairview Park and Lakewood will always be your better choice.


Good luck and happy hunting.!
1 vote Thank Flag Link Wed Feb 6, 2008
Always remember that you make money when you buy, not when you sell real estate. each property you evaluate should stand on its own. If you hire a competent professional to help you look for an investment, you will always get farther ahead. Everyone who responded to this are competent professionals. Give one of us a call.

Paul W. Drury
Broker / Consultant
Keller Williams Realty
Greater Cleveland West
Web Reference: http://www.druryrealty.com
0 votes Thank Flag Link Wed Nov 11, 2009
There is a good demand for single family homes in the $1000-$2500 per month range. A lot of professional people are coming into the area and don't want to purchase because they are here for a short period (one to two years) or because their home where they are relocating from hasn't sold.
0 votes Thank Flag Link Wed Apr 29, 2009
your cap rate will be very low and your return is not what most investors are looking for. However, it is a great community with amazing amenities and great access to the Airport, shopping and downtown. I personally own 18 rental units in Lakewood Ohio and find it to be the perfect location to cash flow and keep high occupancy. Let me know if i can help you with your investmenting. http://www.ohioinvest.com
Web Reference: http://www.EZSalesTeam.com
0 votes Thank Flag Link Sun Apr 20, 2008
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