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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Listen to this week's show and learn:

02:06 Money and currency roles.