looking to purchase first SFH rental in Ohio or Indiana

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looking to purchase first SFH rental in Ohio or Indiana

Raz Malik
MA · Member since 2021 · 4 posts · 6 votes

Hi there, 

I am looking at purchasing my first rental property and have narrowed it down to Ohio or Indiana. I am based in MA so I am looking for a local team. Any recommendations on key cities / towns within Ohio / Indiana that I should continue to research to further narrow my focus?

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Brandon GoldsmithBusiness Member
Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
3y

Really depends on the goals. There are some higher growth markets for appreciation and some more stagnant markets here in Ohio which are better for cashflow @Raz Malik

[email protected]614-963-3340
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  • Vadim F.
    Investor · Member since 2020 · 337 posts · 213 votes
    3y

    are you looking for cash flow or appreciation? Every city is a different market.

    0Reply
  • Brandon GoldsmithBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
    3y

    Really depends on the goals. There are some higher growth markets for appreciation and some more stagnant markets here in Ohio which are better for cashflow @Raz Malik

    [email protected]614-963-3340
    2Reply
  • Raz Malik
    OP
    MA · Member since 2021 · 4 posts · 6 votes
    3y

    Hi all,

    focusing on cashflow

    thanks

    raz

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Raz Malik:

    Hi there, 

    I am looking at purchasing my first rental property and have narrowed it down to Ohio or Indiana. I am based in MA so I am looking for a local team. Any recommendations on key cities / towns within Ohio / Indiana that I should continue to research to further narrow my focus?


    I recommend you read this article on OOS investing. It explains the importance of creating your core four. You will need to get a local, rockstar Realtor, contractor, lender, and property manager.

    https://www.biggerpockets.com/blog/core-four-real-estate-tea...

    I invest locally in Columbus, Ohio
    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    1Reply
  • Alex Hunt
    Lender · Member since 2022 · 441 posts · 134 votes
    3y

    Hi Raz, 

    Is this going to be a long or short term rental? If your focused on cashflow I would look into the following: 

    These areas can generate good cash flow due to lower acquisition costs.

    -Toledo
    -Akron
    -Youngstown

    Once you locate a property, feel free to send me a PM. 
    Thanks
    *

    0Reply
  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    3y

    For Ohio, the Akron/Canton area is good for cash flow. I personally invest primarily in multifamily properties in the City of Canton and it's been great. I've had a few borrowers looking at Toledo as well, Alex is right about the lower acquisition costs for sure. Happy to answer any questions about location or lending and can recommend a couple of agents if you need one for any of the areas I've mentioned, feel free to connect. 

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC520 Reviews
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  • Gloria N GearBusiness Member
    Realtor · Indianapolis IN · Member since 2018 · 464 posts · 339 votes
    3y

    Hi Raz, I can help with Indianapolis.  I was just taking a CE class on the market in Indiana yesterday.  Indiana overall has experienced 300,000 population growth in the last year - it is the leader for the midwest.  Most of that is concentrated around the metro areas - Indianapolis, Ft Wayne, upper northwest corner. (source Indiana Association of Realtors).  Indianapolis has a very stable and diverse economy, be happy to chat with you.

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    3y
    Quote from @Raz Malik:

    Hi there, 

    I am looking at purchasing my first rental property and have narrowed it down to Ohio or Indiana. I am based in MA so I am looking for a local team. Any recommendations on key cities / towns within Ohio / Indiana that I should continue to research to further narrow my focus?


     Ohio's got several solid markets. Best price to rent ratios will be in Cleveland, Akron and Toledo. Best long term metrics will be in Columbus. We've had success in all 4 of these markets, so really depends what you're trying to accomplish and how much money you have to play with.

    0Reply
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    3y

    @Raz Malik
    In Ohio both the Columbus and Cleveland markets are great for investing in from out of state since they are landlord-friendly, and have a low barrier of entry and cash flow.

    [email protected]614-412-4565
    Reafco-557 Reviews
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    0Reply
  • Jake KnightPro Member
    Property Manager · Indianapolis · Member since 2017 · 303 posts · 146 votes
    3y

    As Gloria mentioned, Indy is a great growth market. I think long term future trends will continue to support affordable real estate markets.  Demand for housing and rental has increased significantly.

    0Reply
  • Anthony L Amos Jr
    Real Estate Agent · Columbus | Toledo · Member since 2019 · 608 posts · 768 votes
    3y
    Quote from @Raz Malik:

    Hi there, 

    I am looking at purchasing my first rental property and have narrowed it down to Ohio or Indiana. I am based in MA so I am looking for a local team. Any recommendations on key cities / towns within Ohio / Indiana that I should continue to research to further narrow my focus?

    Invest in the wonderful town of Columbus, OH. Home to The Ohio State University with nearly 60,000 students, 5 Fortune 500 companies, over +25% population change since 2000, and the 2016 smart city challenge award winner (https://www.columbus.gov/smartcity/). Furthermore, Intel is spending 20 Billion dollars to build two semiconductor plants, and many more great things presently and coming in the future. Needless to say, Columbus will remain a strong real estate market for the foreseeable future.
    1Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 835 votes
    3y
    Quote from @Raz Malik:

    Hi there, 

    I am looking at purchasing my first rental property and have narrowed it down to Ohio or Indiana. I am based in MA so I am looking for a local team. Any recommendations on key cities / towns within Ohio / Indiana that I should continue to research to further narrow my focus?


     Hey Raz, I am a realtor in the Greater Cincinnati area, which has had a lot of growth and has many attractions. This area is well known for its cash flow as well. Let me know if there is anyway I can help or any questions you have!

    [email protected]859-443-4952
    Sam McCormack Realtor
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    0Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    3y

    have you looked at new construction? 

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
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    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    3y
    Quote from @Raz Malik:

    Hi there, 

    I am looking at purchasing my first rental property and have narrowed it down to Ohio or Indiana. I am based in MA so I am looking for a local team. Any recommendations on key cities / towns within Ohio / Indiana that I should continue to research to further narrow my focus?

    Hi Raz, 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!
    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9124 Reviews
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    1Reply
  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 3k+ posts · 1k+ votes
    3y

    Central IN for sure

    1Reply
  • Tiffany Makiya
    Member since 2024 · 8 posts · 2 votes
    2y

    Hey Raz,

    Did you end up purchasing your first rental. I am in a similar situation as you and want to know your experience. I am looking at multi-family but still would like to hear what you decided.

    1Reply
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