The Cleveland Real Estate Investor

This is the Cleveland Real Estate Investor with Mike Reilly, owner of Reilly Properties and Reilly Painting and Contracting. Mike has been in the home renovation business for 40+ years in the Cleveland area.Mike Ferrante, real estate agent from Century 21 also joins us amongst other guests.In this podcast, we seek to take our experience and provide insight and inspiration for outside investors looking to buy property in Cleveland.

All Episodes

The Cleveland Real Estate Investor

January/February Heat Check

February 03, 2025 • Reilly Properties • Episode 101

On today's episode, Mike and Brook Reilly check the temperature on
the Cleveland real estate market in the early part of 2025.
We are still in a sellers market but it's about 60/40.
Inventory is still low but you also can't go too crazy with pricing really high.
If you're an out of state investor the name of the game is ROI.
Don't buy with your emotions and KNOW. YOUR. NUMBERS.
00:53 Brook shares insights on the Cleveland real estate market, noting that while it’s not as hot as previous years, well-priced homes are still selling quickly, making it a 60/40 seller’s market.
3:15 Mike warns about "cart before the horse" investors who buy properties without understanding the costs, later realizing they need a property manager and major repairs, often leading to financial strain.
8:48 Mike emphasizes realistic return expectations, explaining that many investors believe they’ll make 15% profits, but a more reasonable range is 8-12% due to maintenance costs and capital improvements.