Cleveland/Columbus OH Connections?

Question

Hey everyone,

I'm a beginner investor looking for small multifamily properties in the Cleveland and Columbus areas. I am out of state so I'm hoping to connect with anyone who has experience in these markets, be it agents, contractors, investors, lenders, etc. I'm continuously seeing the emphasis put on building a strong team, so I'd like to start developing that right now!

I'm looking to buy my first property in the next 6 to 9 months, so I'd greatly appreciate any insight on what to watch for and watch out for. And of course please let me know of any way I can be an asset to you as well!

Thanks

Remington Lyman · Answer

There is no secret to real estate investing. Just buy solid rental properties and collect that rent. Make sure you are not over-leveraged and have reserves in the bank. If you do that for a while you end up a millionaire pretty quickly

Melissa Nash · Answer

are you looking to do the work yourself and buy a distressed property? I bought a property last month and was totally turnkey, with a tenant over 10% cash on cash year 1. The same person I bought it from just sent me another that has some equity in it and some rehab needed when the tenant moves out. I don't know if it is still avail or not, message me if you want his info. He is a licensed realtor and has a PM company. Great guy.

Robert Ellis · Answer

• Research and Due Diligence: Study the Columbus market, focusing on neighborhoods with potential for growth and rental demand.
• Financial Preparedness: Get pre-approved for financing and set a budget that includes not just the purchase price, but also closing costs and potential renovations.
• Local Regulations: Familiarize yourself with zoning laws, property taxes, and any specific regulations that may affect your investment.
• Rental Market Analysis: Understand the demand for rentals in your chosen area. Consider factors like proximity to amenities, employment centers, and public transportation.
• Property Condition and Inspection: Prioritize a thorough inspection to uncover any hidden issues that could impact your investment.
• Long-Term Appreciation Potential: Look for properties in areas with a history of steady appreciation, as this can enhance your return on investment over time.
• Network with Local Experts: Connect with local real estate agents, property managers, and other investors to gain insights into the Columbus market.
• Exit Strategy: Have a clear plan for what you'll do if you need to sell the property in the future, whether due to market changes or personal circumstances.
• 
• Remember, real estate investment requires careful consideration and a long-term perspective. Seek advice from professionals and conduct thorough research to make informed decisions. Good luck with your investment journey!

Jimmy Lieu · Answer

Hi Bryan, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Ilan Kilimnik · Answer

Hi Brian,

I can connect you to my Agent/Contractor/PM.

Send me a message.

Sam McCormack · Answer

@Bryan Royster

Hi Bryan, I saw you mentioned Columbus and Cleveland, are you open to Cincinnati?

It offers roughly the same benefits as these cities do, but depends on what area you invest in specifically. Many areas are up and coming as well as property values and rents. I have a few properties from cold calls you may like as well. Let me know if Cincinnati interests you!

Bryan Royster · Answer

Thanks James. Cleveland's price to rent ratio is appealing to me as I'm looking for properties that can produce cash flow. I'm also seeing in my research that the city is experiencing job growth across several sectors, and I'm hoping that will lead to nice economic upside over the next few years.

From what I've seen and discussed about Columbus, the housing market is steadily on the rise and offers some solid opportunities for appreciation.

I also have family in both cities. They know the neighborhoods well and can keep me looped in on what's happening locally, plus I visit a couple times a year so I'd have the opportunity to put my own eyes on any property I'd buy (or consider buying) versus a market I have no connection with.

Ariel Broome · Answer

Hi All-

Looking to buy a fix and Flip in Cleveland market in the next 3 months. Looking to connect with investor friendly agents and to learn more about the area and neighbourhoods with fix and flip potential.

Thank you!

Austin Steed · Answer

Always great to start by house hacking. Limits the amount of capital you need and once you leave will just add a small multifamily to your portfolio.

I started by house hacking a single family and renting out bedrooms to friends. Always happy to connect with other Columbus investors too!

Melissa Nash · Answer

I have a really great contact in these areas- but he does the work for you and the rehab is done. He has mostly small MF. Feel free to message me if you want his info. He is not on BP. Best of Luck!

Cleveland/Columbus OH Connections?

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