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. __________________ Want more wealth? 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 __________________ 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 The Real Estate Guys Mortgage Loans: RidgeLendingGroup.com Cash Flow Banking: ProducersWealth.com Turnkey RE: NoradaRealEstate.com QRP: TotalControlFinancial.com Find Properties: GREturnkey.com GRE Book: GetRichEducation.com/Book

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This episode was published on September 10, 2018.

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