Best Cities To Invest In Rental Properties

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Best Cities To Invest In Rental Properties

Christina J Smith
Investor 路 Atlanta 路 Member since 2023 路 15 posts 路 7 votes

Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 

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

It just depends on your goals, they are two very different markets. Cleveland the properties are overall cheaper than Columbus with relatively similar rents, so on paper it will cashflow better. Columbus will have cashflow but also the appreciation side from all the developments. @Christina J Smith

[email protected]614-963-3340
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  • Jimmy LieuBusiness Member
    Real Estate Agent 路 Columbus, OH 路 Member since 2019 路 3k+ posts 路 2k+ votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 

    Hi Christina, 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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    2Reply
  • Brandon GoldsmithBusiness Member
    Real Estate Agent 路 Columbus, OH 路 Member since 2020 路 1k+ posts 路 1k+ votes
    3y

    It just depends on your goals, they are two very different markets. Cleveland the properties are overall cheaper than Columbus with relatively similar rents, so on paper it will cashflow better. Columbus will have cashflow but also the appreciation side from all the developments. @Christina J Smith

    [email protected]614-963-3340
    4Reply
  • Travis TimmonsPro Member
    Rental Property Investor 路 Ellsworth, ME 路 Member since 2021 路 1k+ posts 路 2k+ votes
    3y

    You can make money is most markets if you know what you are doing. The best market to invest in is the one where you have an unfair advantage, advanced knowledge, relationships, or another compelling reason to invest. Both Cleveland and Columbus are good places to make or lose a pile of money. Your team, your own studying and due diligence (you better get on a plane before you cut a check - if you are out of town/state), solid management of the property if you do pull the trigger, and a clear plan or strategy is what will result in success - not the market you choose.

    3Reply
  • Peter Dorinsky
    Real Estate Agent 路 Columbus, OH 路 Member since 2020 路 149 posts 路 193 votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 


     Hey Christina, if you want to maximize cash-flow I'd suggest Cleveland, but if you're looking for cash-flow/appreciation in a rapidly growing market I'd recommend Columbus.

    2Reply
  • Travis Biziorek
    Investor 路 Arroyo Grande, CA 路 Member since 2014 路 1k+ posts 路 1k+ votes
    3y

    Hey Christina, you aren't stuck with just Ohio, although it may feel that way.

    Take a look at Detroit as well. I invest there from California. There's still cash flow to be had and the city is undergoing a major revitalization.

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

    @Christina J Smith
    I would recommend looking at Columbus, OH. You can get good cash flow and solid appreciation at the same time. Columbus has a lot of job opportunities and population growth. Especially with Intel coming to Columbus as well as Hyperion, which is a company that makes hydrogen fuel cells. Columbus is home to the HQ of Chipotle, Wendys, White Castle, L-Brands, and Hunnington. Columbus is also home to OSU, which constantly develops real estate, employs lots of jobs, and attracts students from the US and internationally to attend. On top of all of that, it boasts one of the best college football teams Ohio State Buckeyes, which is very well known and has a cult following, and attracts a lot of people to the games. 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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  • Ali Nichols
    Investor 路 Member since 2022 路 235 posts 路 127 votes
    3y

    hey @christina plenty of great advice above. Another thing to consider is whether you plan to live in or simply invest remotely out of state. Very possible and easy to invest out of state nowadays, but sometimes it's nice investing in your own backyard. 

    3Reply
  • Christina J Smith
    OP
    Investor 路 Atlanta 路 Member since 2023 路 15 posts 路 7 votes
    3y
    Quote from @Brandon Goldsmith:

    It just depends on your goals, they are two very different markets. Cleveland the properties are overall cheaper than Columbus with relatively similar rents, so on paper it will cashflow better. Columbus will have cashflow but also the appreciation side from all the developments. @Christina J Smith


     Thank you for the feedback! 

    0Reply
  • Christina J Smith
    OP
    Investor 路 Atlanta 路 Member since 2023 路 15 posts 路 7 votes
    3y
    Quote from @Ali Nichols:

    hey @christina plenty of great advice above. Another thing to consider is whether you plan to live in or simply invest remotely out of state. Very possible and easy to invest out of state nowadays, but sometimes it's nice investing in your own backyard. 


     Thanks for advice! Midwest it is!!

    1Reply
  • Christina J Smith
    OP
    Investor 路 Atlanta 路 Member since 2023 路 15 posts 路 7 votes
    3y
    Quote from @Patrick Drury:

    @Christina J Smith
    I would recommend looking at Columbus, OH. You can get good cash flow and solid appreciation at the same time. Columbus has a lot of job opportunities and population growth. Especially with Intel coming to Columbus as well as Hyperion, which is a company that makes hydrogen fuel cells. Columbus is home to the HQ of Chipotle, Wendys, White Castle, L-Brands, and Hunnington. Columbus is also home to OSU, which constantly develops real estate, employs lots of jobs, and attracts students from the US and internationally to attend. On top of all of that, it boasts one of the best college football teams Ohio State Buckeyes, which is very well known and has a cult following, and attracts a lot of people to the games. 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.


     For sure... thats exactly what I got from doing my homework on Cleveland and Columbus. Always will have job opportunities. I don't mind holding for bit. But thank you the great information!! 

    0Reply
  • Christina J Smith
    OP
    Investor 路 Atlanta 路 Member since 2023 路 15 posts 路 7 votes
    3y
    Quote from @Travis Biziorek:

    Hey Christina, you aren't stuck with just Ohio, although it may feel that way.

    Take a look at Detroit as well. I invest there from California. There's still cash flow to be had and the city is undergoing a major revitalization.


    Detriot?馃 I was watching that market.. I am not sure if I want focus that market right now. Do you have SFR or Multifamily in Detriot?

    0Reply
  • Travis Biziorek
    Investor 路 Arroyo Grande, CA 路 Member since 2014 路 1k+ posts 路 1k+ votes
    3y
    Quote from @Christina J Smith:
    Quote from @Travis Biziorek:

    Hey Christina, you aren't stuck with just Ohio, although it may feel that way.

    Take a look at Detroit as well. I invest there from California. There's still cash flow to be had and the city is undergoing a major revitalization.


    Detriot?馃 I was watching that market.. I am not sure if I want focus that market right now. Do you have SFR or Multifamily in Detriot?

    I have 8 SFHs and 2 duplexes there. It鈥檚 been fantastic for me. 
    1Reply
  • Account Closed
    Member since 2023 路 2 posts 路 0 votes
    3y

    Cleveland is a nice idea

    0Reply
  • Bobby PaquetteBusiness Member
    Real Estate Agent 路 Abilene, TX 路 Member since 2019 路 223 posts 路 88 votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 


     I think you can find what you are looking for all over the midwest, I would say look at what data is most important to you and go from there. Few other markets to check out below! I will say a lot of these markets to include the 2 you mentioned, have a lot of areas where its a street by street price difference so make sure you have good boots on the ground.

    Cincy, OH

    Toledo, OH

    Indy, IN

    Louisville, KY

    2Reply
  • Kyle ObradovichPro Member
    Investor 路 Miami, FL 路 Member since 2023 路 3 posts 路 3 votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 

    I鈥檓 originally from Youngstown, OH , but live in Miami, FL . We have property in Trumbull County, OH , Columbus, OH , Miami, FL and Fort Myers, FL. Having researched close to 40 markets, I let 1st time investors know Trumbull County, OH (Howland, Cortland, Warren)  is a terrific spot to start. Low entry point, great cash flow, long term tenants and the homes seem to be well built.   

    2Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one B

    Both, there is a reason investor from around the world have been buying in those areas for years ,

    0Reply
  • Michael Behr
    New to Real Estate 路 Huntsville Al 路 Member since 2023 路 55 posts 路 19 votes
    3y

    I was looking into Ohio as well. I decided to check growth rates and it was alarming that Dayton Cincy and Columbus were all declining in population. It鈥檚 made me hesitant 

    1Reply
  • Kyle Sosnowski
    New to Real Estate 路 NJ 路 Member since 2023 路 71 posts 路 20 votes
    3y
    Quote from @Travis Timmons:

    You can make money is most markets if you know what you are doing. The best market to invest in is the one where you have an unfair advantage, advanced knowledge, relationships, or another compelling reason to invest. Both Cleveland and Columbus are good places to make or lose a pile of money. Your team, your own studying and due diligence (you better get on a plane before you cut a check - if you are out of town/state), solid management of the property if you do pull the trigger, and a clear plan or strategy is what will result in success - not the market you choose.


     Love that reply Travis, 

    I tend to hear people asking the same questions (I was one of them before), but the more I learn from other investors.. It really does come down to your experience in an area. 

    Definitely a mindset change I had to make, and everyone can. 

    1Reply
  • Ke Nan Wang
    Developer 路 St. Augustine, FL 路 Member since 2018 路 311 posts 路 384 votes
    3y
    Quote from @Travis Timmons:

    You can make money is most markets if you know what you are doing. The best market to invest in is the one where you have an unfair advantage, advanced knowledge, relationships, or another compelling reason to invest. Both Cleveland and Columbus are good places to make or lose a pile of money. Your team, your own studying and due diligence (you better get on a plane before you cut a check - if you are out of town/state), solid management of the property if you do pull the trigger, and a clear plan or strategy is what will result in success - not the market you choose.


     This one is a solid and honest advise I would like to see more people say. 

    2Reply
  • Linda LabbePro Member
    Investor 路 North Bay, Ontario 路 Member since 2015 路 709 posts 路 262 votes
    3y

    we live in Canada and invest in the US so everything for us is remote . We invest in the Detroit Toledo area because of the returns which are great. More the willing to share what we have learnt if you want to chat.

    0Reply
  • Sam McCormackBusiness Member
    Real Estate Agent 路 Cincinnati, OH/NKY 路 Member since 2021 路 1k+ posts 路 833 votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 


     Columbus is great! I know a few agents there that are great as well. I am in greater Cincinnati. I would recommend here as well. Northern Ky has a lot to offer, because it is growing. Let me know if there is anyway I can help find your next investment property!

    [email protected]859-443-4952
    Sam McCormack Realtor
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    0Reply
  • Anthony L Amos Jr
    Real Estate Agent 路 Columbus | Toledo 路 Member since 2019 路 608 posts 路 768 votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 


     Columbus for appreciation & Cleveland for affordability & cashflow

    0Reply
  • Robert EllisBusiness Member
    Developer 路 Miami, FL 路 Member since 2014 路 3k+ posts 路 1k+ votes
    3y
    Quote from @Anthony L Amos Jr:
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 


     Columbus for appreciation & Cleveland for affordability & cashflow


     you can still buy affordable and cash flow homes in columbus too I don't think you can say one market is better than the other. both have deals every day that work. I think you have to develop a stronger strategy as an investor than just "buy cash flow houses" 

    [email protected]786-494-6766
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    0Reply
  • Robert EllisBusiness Member
    Developer 路 Miami, FL 路 Member since 2014 路 3k+ posts 路 1k+ votes
    3y
    Quote from @Christina J Smith:

    Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one 


     Best way I describe columbus to people is many areas are seeing double digit appreciation and the same areas are seeing 1% rule deals without buying low end 100 year old houses. make sure whoever you work with you and them have a solid strategy 

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
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    0Reply
  • Robert EllisBusiness Member
    Developer 路 Miami, FL 路 Member since 2014 路 3k+ posts 路 1k+ votes
    3y
    Quote from @Brandon Goldsmith:

    It just depends on your goals, they are two very different markets. Cleveland the properties are overall cheaper than Columbus with relatively similar rents, so on paper it will cashflow better. Columbus will have cashflow but also the appreciation side from all the developments. @Christina J Smith


     a little bit simple but generally I would agree with Brandon's comments. Look at some of the more recent housing reports they post monthly. A area like delaware where there is a large portion of new homes, the average home from August of 2022 to August of 2023 went up by 9% and that is at an average price of around 400k which is insane. The lower the cost of the homes or properties the faster the appreciation. 1-4 family homes obviously seeing the highest impact of this. 

    [email protected]786-494-6766
    Section 8 Launch52 Reviews
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    0Reply
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