Long Island NY · Member since 2017 · 14 posts · 8 votes
Hi everyone, I am looking into purchasing a buy and hold rental property in Columbus, OH. I am new to real estate investing, and would love some insight on any reputable company that could assist me with this. Any neighborhoods you would recommend? I am from NY, so this would be a long distance rental.
Hi Laura, if you are looking downtown, look at the Franklinton neighborhood. A lot of investment and development is headed that way. For the suburbs, I would look at some of the less costly ones, Hilliard, Gahanna, Obetz.
Hi Laura, if you are looking downtown, look at the Franklinton neighborhood. A lot of investment and development is headed that way. For the suburbs, I would look at some of the less costly ones, Hilliard, Gahanna, Obetz.
Rental Property Investor · Columbus, OH · Member since 2019 · 32 posts · 12 votes
7y
If you are looking for a long term buy and hold with strong cash flow potential I would recommend Franklinton as well. The area is upcoming as it has great location near downtown. Also, it has been designated as an "opportunity zone", increasing demand for large development projects. You can see this is already having an impact in the Gravity and Gravity 2 project. I currently have 3 rental units there and looking for more.
One of the risks you have to consider is that it currently is a C class neighborhood and there are parts of the area in a flood zone. I would recommend checking the FEMA website to see if you would have to obtain renters insurance. Being a C class neighborhood, there is still a decent amount of crime and one of my properties was broken into.
Given the risks, I still find this a great opportunity. Many investors consider this area the "Short North" of 10 years ago. You can research property values and see how well an investment in the Short North would have came out to today.