Which city in Ohio to start out?

Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

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Remington LymanBusiness Member

Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes

Quote from @Yechiel W.:

I like Cleveland as well. Columbus, Ohio has seen a rapid growth in jobs and population. Cleveland is amazing for cash flow.

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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
2y
@Yechiel W.
stay local
if you're in eastern PA you've got Allentown / the lehigh valley
why go OOS?
1 Reply
Yechiel W.
OP
Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes
2y
Hi Nicholas,
Philly is chalk for of crime and I have been to Allentown/Bethlehem Leigh high valley areas a number of times. I got a poor impression of the area. I guess the grass can appear greener on the other side, but this area does not seem to be up and coming, good schools, in demand etc. If I am incorrect I am happy to hear your or anyone else's view on these areas.
0 Reply
Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

I like Cleveland as well. Columbus, Ohio has seen a rapid growth in jobs and population. Cleveland is amazing for cash flow.
[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
2y
@Yechiel W.
every single market in the US has good neighborhoods and more challenging neighborhoods. the lehigh valley has had pretty consistent population growth over the past few decades, even post COVID. i don't invest there but i have friends that live there and they love it. the suburbs of Allentown I think have great potential.
columbus is a great place to invest, too. i just never see new investors actually have a plan to be successful out of state. their plan is 1. buy something on Zillow and 2. hope for the best. that's not going to work.
here's a plan for you:
-find all the REIA meetings within a 2 hour radius and go to all of them. pick the ones you like best and go to those every month or week or whatever.
-find an investor friendly agent and tour 50-100 properties. run numbers on those. don't run numbers on Internet properties on Internet. worthless.
-connect with folks sourcing off market deals and start reviewing those. see if you think they have potential.
if you can house hack, even better. can you house hack? if you can house hack, house hack.
good luck
2 Reply
Min ZhangBusiness Member
Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
2y
hi Yechiel, I personally love the Cleveland market for its cash flow. I invest heavily in this area as an agent. I grew up on the east side of the town with a well versed knowledge of the neighborhood. I do have clients buy in those area, generally anywhere from 8-12% COC return. As far as Columbus goes, it's more of an appreciation play. Let me know how I can help!
[email protected]614-412-2912
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Yechiel W.
OP
Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes
2y
Quote from @Remington Lyman:

Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

I like Cleveland as well. Columbus, Ohio has seen a rapid growth in jobs and population. Cleveland is amazing for cash flow.
Hi Remington,
Thank you for your insight.
Which areas in Cleveland do you find that quality tenants are attracted to living as a bad tenant can make all the cash flow vanish and without good appreciation there is not much to salvage your investment. Hence, If I consider the cashflow play, there is little room for hiccups I would imagine.
0 Reply
Yechiel W.
OP
Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes
2y
Quote from @Nicholas L.:

@Yechiel W.
every single market in the US has good neighborhoods and more challenging neighborhoods. the lehigh valley has had pretty consistent population growth over the past few decades, even post COVID. i don't invest there but i have friends that live there and they love it. the suburbs of Allentown I think have great potential.
columbus is a great place to invest, too. i just never see new investors actually have a plan to be successful out of state. their plan is 1. buy something on Zillow and 2. hope for the best. that's not going to work.
here's a plan for you:
-find all the REIA meetings within a 2 hour radius and go to all of them. pick the ones you like best and go to those every month or week or whatever.
-find an investor friendly agent and tour 50-100 properties. run numbers on those. don't run numbers on Internet properties on Internet. worthless.
-connect with folks sourcing off market deals and start reviewing those. see if you think they have potential.
if you can house hack, even better. can you house hack? if you can house hack, house hack.
good luck
Hi Nickolas,
That is definitely solid advice and I definitely see your point. Part of me is like 100% yes to do all that for at least my 1st deal and then branch out to oos. My work is so time consuming I'll probably hit up a couple meetups in my area and really keep my radar up of there is indeed something or some niche here. I'm reading David Greens book on out of state investing and you cannot fathom how much Columbus is bursting with influx and opportunities. Perhaps not as the scale here. I'll definitely keep ans open mind.
2 Reply
Yechiel W.
OP
Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes
2y
Quote from @Min Zhang:

hi Yechiel, I personally love the Cleveland market for its cash flow. I invest heavily in this area as an agent. I grew up on the east side of the town with a well versed knowledge of the neighborhood. I do have clients buy in those area, generally anywhere from 8-12% COC return. As far as Columbus goes, it's more of an appreciation play. Let me know how I can help!
Thank you!
0 Reply
Jessica LarsonBusiness Member
Property Manager · Cleveland, OH · Member since 2023 · 108 posts · 96 votes
2y
Definitely check out Cleveland if you are looking for cashflow!
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Jimmy LieuBusiness Member
Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!
Hi Yechiel, 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
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Patrick DruryBusiness Member
Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
2y
@Yechiel W.
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. With Columbus, you can get good cash flow and solid appreciation, at the same time. Columbus has a lot of job opportunities and population growth. If you don't care about appreciation at all you should look at Cleveland, OH. Cleveland has a bit higher cash flow than Columbus in exchange for the appreciation.
[email protected]614-412-4565
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Sam McCormackBusiness Member
Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

I just shot you a DM about Cincy!
[email protected]859-443-4952
Sam McCormack Realtor
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Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
2y
https://www.biggerpockets.com/forums/521/topics/1175232-lehi...
0 Reply
Ko KashiwagiPro Member
Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
2y
Hi Yechiel,
What are you top priorities and goals? Cash flow, appreciation, stability...? Columbus has really good outlook on appreciation. I also come across a lot of investors acquiring great cash flow deals in Cleveland and Cincinnati.
310-848-9776
1 Reply
Simon Ashbaugh
Realtor · Columbus Ohio, Cleveland Ohio · Member since 2022 · 849 posts · 830 votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!
If cash flow is your top priority, Cleveland's reliable rents and predictable income could be a strong contender. However, if your sights are set on long-term appreciation, Columbus might be more appealing, with the city experiencing impressive property appreciation surpassing the national average. Plus, Ohio's landlord-friendly reputation really boosts its overall appeal.
3 Reply
Yechiel W.
OP
Investor · bucks County PA · Member since 2020 · 29 posts · 17 votes
2y
Quote from @Ko Kashiwagi:

Hi Yechiel,
What are you top priorities and goals? Cash flow, appreciation, stability...? Columbus has really good outlook on appreciation. I also come across a lot of investors acquiring great cash flow deals in Cleveland and Cincinnati.

Hi Ko,
To be perfectly honest both. I'm looking for enough cash flow to cover any incidental costs of upkeeping the property so I don't have to eat the cost of any capital expedlnditures, vacancy, maintenance etc. I am patient that living off the cash flow would come a few years down the road, as the loan is paid and rents gradually go up and or rates go down. Most importantly not to run negative as would halt further investing. By negative, I Mean cash flow positive even just a few hundred per month for anticipated costs. The barrier of entry in the good neighborhoods can be pricy so looking for a balence of the best neighborhoods with a relatively reasonable and attainable cost of entry.
0 Reply
Mike C.
Member since 2024 · 18 posts · 5 votes
2y
Quote from @Nicholas L.:

@Yechiel W.
every single market in the US has good neighborhoods and more challenging neighborhoods. the lehigh valley has had pretty consistent population growth over the past few decades, even post COVID. i don't invest there but i have friends that live there and they love it. the suburbs of Allentown I think have great potential.
columbus is a great place to invest, too. i just never see new investors actually have a plan to be successful out of state. their plan is 1. buy something on Zillow and 2. hope for the best. that's not going to work.
here's a plan for you:
-find all the REIA meetings within a 2 hour radius and go to all of them. pick the ones you like best and go to those every month or week or whatever.
-find an investor friendly agent and tour 50-100 properties. run numbers on those. don't run numbers on Internet properties on Internet. worthless.
-connect with folks sourcing off market deals and start reviewing those. see if you think they have potential.
if you can house hack, even better. can you house hack? if you can house hack, house hack.
good luck

What would you recommend if you do not have any REIA near you, the nearest one is 5 1/2 hrs away?
0 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
2y
@Mike C.
is it really 5.5 hours away?? where are you located?
lots of options still
1. start your own
2. start your own virtual one
3. find other virtual ones
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

I have been working in the Cleveland markets for years. I used to get 25- 30% net caps based on cash purchases. Now I still get 15- 20% ,as pricing has tripled or more. I know many from around the world that get 10% ish
Good luck
1 Reply
Mike C.
Member since 2024 · 18 posts · 5 votes
2y
Quote from @Nicholas L.:

@Mike C.
is it really 5.5 hours away?? where are you located?
lots of options still
1. start your own
2. start your own virtual one
3. find other virtual ones

It really is, I will shoot you a DM if that is okay.
0 Reply
Jay ThomasPro Member
Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
2y
Your interest in Ohio, especially Columbus, is spot-on for your SFH or small multifamily investment goals. Columbus stands out as a business hub with over 24 major corporate headquarters, ensuring a stable demand for housing across various industries. Additionally, Ohio's generally landlord-friendly legal environment, compared to Philadelphia, makes it an appealing investment location. Columbus, consistently ranking among the fastest-growing Midwest cities, suggests a promising market for both appreciation and rental income. On the other hand, Cincinnati offers affordability and ongoing revitalization projects, creating potential opportunities for fixer-uppers and value-add properties. With major employers like Procter & Gamble and Kroger ensuring a stable job market, Cincinnati presents a strong contender. Before diving deep, consider both cities—weigh their pros and cons based on your specific investment goals and risk tolerance.
[email protected]832-889-5607
1 Reply
Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

Hey Yechiel, I think you should look into the Columbus market. There has been a ton of growth here over the last 3-5 years. The market is booming in both the business and real estate sectors. New companies like Intel, Amazon, and Google are also investing here.

I own all of my investment properties here and work with a lot of out-of-state investors in both the east and west coast that love investing here for the turnkey and BRRRR opportunities that we have here. I made some resources for my out-of-state investors like a neighborhood graded map and contractor rolodex that I can share with you!

[email protected]614-802-5698
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Engelo RumoraBusiness Member
Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
2y
Quote from @Yechiel W.:

I was looking into SFH or small Multifamily and have been looking into Philadelphia and it seems not so Landlord friendly per the (landlord tenant laws and asking around) Many areas are over priced (i.e. Center City) and other areas are war zones. There isn't much cash flow in Bucks County PA from what I see and some of the fringe areas have a flat population with little growth. NJ comes with its own issues. I have seen many mention OHIO specifically Columbus. Looks like at least 24 major corporate headquarters there and lots of different industries (universities, government, Hospitals etc) I want to do a deep dive into Columbus but want to see what you all think about other Cities in Ohio like Cincinnati. I understand that location is super nuanced, but before delving in on a micro scale I wanted to know what the big overall picture is in your Opinion! Thank you so much!

You can't go wrong with Ohio.
IMO cities like Columbus, Cleveland and Cincinatti offer lower cashflow and more upside for appreciation than Dayton and Toledo which offer higher cashflow and less upside for growth.
In all cities if you look hard enough, you could probably find solid B class properties or C+ under $100,000 that will easily beat the 1% rule.
Much success
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Taz Zettergren
Real Estate Agent · Memphis, TN · Member since 2019 · 365 posts · 264 votes
2y
I prefer to invest south of the mason dixon line for a few reasons but the main one is it's local to me. The winters aren't as harsh down here and the price points/landlord laws are also friendly but I've heard great things about Ohio! @Engelo Rumora is an expert on/in Ohio and has been in the business quite a long time.

2 Reply
Engelo RumoraBusiness Member
Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
2y
Quote from @Taz Zettergren:

I prefer to invest south of the mason dixon line for a few reasons but the main one is it's local to me. The winters aren't as harsh down here and the price points/landlord laws are also friendly but I've heard great things about Ohio! @Engelo Rumora is an expert on/in Ohio and has been in the business quite a long time.

Thanks for the kind words mate.

Global warming will warm up the North hehe

Keep being great.

We look up to you guys at REI Nation 🙏
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