In May of this year, Cleveland Clinic announced a $1.3 billion expansion and renovation of its facilities in Cleveland, Florida, and London. This includes the construction of a one-million-square-foot Neurological Institute and an expansion of the Cole Eye Institute.
Supported by charitable donations, these additions are expected to add over 2,000 direct jobs and over 7,500 indirect jobs to the Cleveland metro.
Good Sign for Cleveland Rental Property
This is good news for property owners in Cleveland and presents a great investing opportunity to aspiring investors on the hunt for rental properties in developing areas.
Real estate is highly responsive to local economic conditions, and nothing indicates economic strength like an influx of jobs. When jobs come to a region, we can expect an increase in the demand for housing (both for purchase and rent), leading to an increase in rental rates and property values.
#2 Hospital in the World
Cleveland Clinic isn’t just one of the city’s most robust employers — it’s also one of the most respected hospitals in the world, rated as the #2 hospital worldwide and #1 for cardiac surgery according to Newsweek.
Located blocks from University Circle, the main campus of Cleveland Clinic sprawls from 86th St to 105th St from west to east, and from Cedar Ave to Chester Ave from south to north.
Cleveland Turnkey Rentals
Cleveland also happens to be one of our strongest markets. MartelTurnkey has an extensive selection of turnkey rental opportunities ready to go in B-class neighborhoods with easy access to Cleveland Clinic. Any one of these rentals has the potential to become an in-demand housing solution for Cleveland Clinic employees and the workers who support them.
Prices for our turnkey rentals in the Cleveland metro start in the low $100k range, with initial investments starting in the mid-$20k range and a projected ROI of 20% or more.
Best of all, we own all the properties in our inventory, so no one else has access to them. They are exclusively available to clients of MartelTurnkey.
How Turnkey Rentals Work
The goal of turnkey rental acquisition service is to make it easy to find cash-flowing rental properties with significant upside potential in growth markets — without you (the investor) ever having to get on a plane or set foot on the property.
In fact, most of our clients are out-of-state buyers who do not see the property in person upon purchase. With the help of our streamlined process, they happily collect the cash in their bank accounts every month.
How does it work?
We locate distressed properties in growth markets with strong upside potential.
We negotiate the purchase and perform due diligence.
We acquire the property and plan the renovation.
You select the property and wire funds for the initial investment.
We execute the renovation, hire a property manager, and install a tenant.
You apply for a mortgage loan and insurance.
You close on the property, get the keys, and watch the money roll in from Day 1!
Cleveland’s good fortune can be yours as well. No matter where you live in the world, MartelTurnkey can help you easily gain exposure to the positive impacts of the Cleveland Clinic expansion plan.
Ready to get started? Reach out to MartelTurnkey today!