Questions for Ohio agents/investors and Class A, B, C in your markets

[Becca F.]

I'm an investor in the Bay Area and Indianapolis metro area. I've seen a lot of posts suggesting to beginning investors, many of them Californians that Ohio is a great market, particularly with Google, Intel, Honda, and Wells Fargo to Columbus. I've heard that Columbus is "the new Silicon Valley" of the the Midwest. I'm actually impressed by that although I don't plan to invest in the Midwest anymore. 

I bought a Class A (nice Indy suburban home with excellent schools) in 2013 and it's appreciated (doubled in value from 2013 to 2021) and I'm positive cash flow because of my low interest rate, 3.875%. I actually did a cash out refi during COVID so I would cash flow more if I had just done a rate and term refi. 

I bought Class C in Indy in 2023 (move in ready) and am losing money each money on what was supposed to cash flow on paper just barely $176 if no repairs were called in. Some of the comments that I've seen are 1% cash flow. Where are these properties and would they cash flow buying in 2024 (not 2020 or 2015)? 

What would be the price ranges of Class A, B and C properties in your markets of move in ready or something with light repairs (where a buyer could get a conventional loan, not a distressed property)? My opinion is that OOS investors, especially ones that are inexperienced shouldn't do BRRRRs. I've done a local renovation and I wouldn't do a BRRRR in Indy after a few attempted offers.

I'm not trying to be a jerk but truly trying to understand where this cash flow is coming from buying in 2023-2024, although I can understand with Columbus I could see it appreciating with those companies moving there. I appreciate the feedback, always trying to help out my California investor friends.