Bad Areas In the Columbus Ohio Area
Which areas in the Columbus I should watch out for. My property is in the 43222. I was told to me by multiple Investors that it was in a War Zone, and next time I should do research in the neighborhood first. Would anyone with experience in the Columbus market know the Zip codes to WATCH out for?
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Hey Daniel,
"Bad" areas and "good" areas are defined by your goals. When I first got into real estate investing, I bought 5 houses at once against the advice of an investor who had over 600 units. They were on: Kelton Ave, N. Champion Ave, 2 on Rankin Ave, and on on Linden Ave... all in Columbus.
My goal was to focus on low-income areas because of the low barrier to entry, the lack of competition, and the ability to improve areas. Through the proper management, over the course of 2 years I had built over $1mm in real estate assets. This was from $0 in real estate assets before my first investment. My goals were to have the highest cash on cash return, and these "bad" areas gave me the opportunity. My time was worth a lot less then than it is now, and I leveraged it for the highest return I could get. HUGE headaches, many late nights, and a lot of hard work. I have since, invested in commercial real estate over $500k per building, I have used my cash to pay for houses over $150k, and I have bought more "bad" area properties.
Through my experiences, you will make the fastest and highest returns in Columbus and Surrounding if you focus on: 3+ bed, 1.5+ bath, attached garages, basements, in areas with very low 'days on market.' typically in houses built after 1980
If you contract at: ARV x .65 - repairs - liens = MAO, you will make money on your flips every time. If you need to wholesale a few for some cash, let me know.