NexGen NewsDay V3
Continued Cleveland Rebound Makes Big News on Meet The Press
At a time when Washington is getting very little done and the economic situation is still uneasy Cleveland Ohio may be America’s new “comeback kid.” Lebron James has given sports enthusiasts new hope and the GOP is headed to Cleveland for it’s breakthrough convention in 2016. How is it that Cleveland is beating the odds.
Happy days are here for a rust belt city, once the butt of many jokes. Cleveland is fighting back. The steel mills once again flex their muscles. Global giant Arcelor Mittal continues to grow. Patrick Conway of The Great Lakes Brewery is another fast growing enterprise taking advantage of the Cleveland renascence. Restaurants and bars line streets that were once derelict.
The Cleveland rebound is driven by healthcare and manufacturing and that nucleus has driven more companies and people to invest in the region. Still there is a ways to go in some areas. Some foreclosed homes still remain but there is plenty of new residential building to make up for it. Sure LeBron (the King) is back but Cleveland has been making changes long before he returned.
Successful Investment Returns $1300/mo.
When NexGen Invest clients succeed, everyone is a winner. In this case our client purchased one of our featured properties and with our help made minor updates. That client now receives $1300 monthly in rental income, in addition to the equity that is building in this property. In as little as 10 years he will have recouped his investment and have a property worth roughly $100,000 while still collecting over $15,000 per year in income.
The Compton Street home is a perfect example of how NexGen Invest uncovers hidden gems in established neighborhoods with great rental potential. With NexGen Invest’s complete range of services the investor has spent a minimal amount of time and effort on this income producing project. For ideas on property investments that ARE available see our featured properties further down the page or call us for even more ideas.
$300 Million Project Planned for Cleveland
One of Cleveland’s leading investors is once again confirming why he thinks Cleveland is a good bet for his money. Bob Stark has just received approval for a $300 million mixed use project that will include a 30 story office tower, 500 new apartments, shopping center and possibly a hotel.
This is just one of the many recent success stories that have reached the N.E. Ohio marketplace. An exciting time that has seen one project after another come to fruition. Each one adding to the momentum of the regions make over.
The nuCLEus project is design to be a link between Cleveland’s Gateway district, Playhouse Square area, Cleveland State University area, Public Square and a planned new casino project. The project’s design is to be world class and will be the third tallest in Cleveland’s skyline.
The project has been approved by Cleveland’s planning commission. the location will be mostly on open parking land however some demolition will need to be done before construction can begin. A portion of the project is expected to be ready for the RNC convention in 2016 with remainder completed by early 2017.
This Month’s Featured Properties
Each newsletter issue we highlight special investment property values. These are just a few of the many options available and we encourage you to call us to discuss your financial goals so we can pick the perfect property investment for you.
Lots of space at a super value. We’re estimating this property will be available for as much as $40,000 under market value. Located on a quieter residential street, this 4 bedroom, 1.5 bath home provides a safe haven for the family and friends that reside here. We project an over 50% return on investment here and with minor upgrade this property will be ready to rent. Close to shopping, schools and plenty of growing businesses.
If you want low maintenance then this brick 3 bedroom is an ideal choice. The home is situated in a traditional well maintained neighborhood of all brick homes. Within walking distance to local parks, restaurants and major shopping district. These salt-box style homes make great investments because they were so well built and have held up well over time. No doubt some updates will be required but overall a super buy for an investment.