Best places to BRRRR in Columbus, OH??

11 Replies

Ohio has come up a lot lately. My family and I live in Nashville, so OOS investing in Ohio seems like a good place to start since it's relatively drivable. I'm specifically looking for insight on Columbus. What areas are people looking at? Specifically, where are the B neighborhoods in the path of progress? I'm looking for single family and duplexes for BRRRR investing.

Thanks so much!

There are a lot of good neighborhoods to BRRRR in. I'd advise more closer to the B-/C+ neighborhoods where rent to price ratios are a bit better. But regarding B class neighborhoods that's where I primarily invest and do my BRRRR's (I own 15 units in B class Cbus now) and they are very hard to find good ones.

The B Class neighborhoods are Merion Village, Old North, OSU Campus, Franklinton (south of broad, north of sullivant, east of glenwood), Hilliard, some areas in Worthington, Sharon Village, 5th by Northwest, Old Town East/King Lincoln, Berwick, etc.

The B-/C+ class neighborhoods that are more gentrifying and rapidly changing are Southern Orchards, Hungarian Village/Reeb Hosack, South of Main, North Linden, other area of Franklinton (non-nipple), Eastmoor/Broadley, etc.

I also have a map that better breaks the neighborhoods down by rent ratios, pricing, and crime.

Originally posted by @Brent Fosner :

Ohio has come up a lot lately. My family and I live in Nashville, so OOS investing in Ohio seems like a good place to start since it's relatively drivable. I'm specifically looking for insight on Columbus. What areas are people looking at? Specifically, where are the B neighborhoods in the path of progress? I'm looking for single family and duplexes for BRRRR investing.

Thanks so much!

 It doesn't matter what neighborhood you choose in Columbus.

My first BRRRR was on campus, pulled almost $100k out after Reno

My Second BRRRR was on the south side, pulled almost $200k out after Reno

My current BRRRR is on the east side and hoping for the same as the first two.

If you buy in Columbus, chances are it will appreciate and be worth more. Things to consider when buying, can you add value (look at cosmetic rehabs). Will the rents justify a higher value.

Originally posted by @Brent Fosner :

@Marc Rice thank you for the breakdown! Very helpful. Are any of your properties used for short term rentals? I'm considering both short and long term. 

Cheers. 

Only a few units are that consist of 1bd apartments in B class neighborhoods. My other units have too many bedrooms so I didn't Airbnb them. Airbnb is best with studio-1bds in A-B class neighborhoods, in my opinion.

Originally posted by @Brent Fosner :

@Steven Wilson Those are some appealing numbers. Good to hear! 

Yeah Columbus is full of deals like that, its getting harder with the market, but if you have a good deal finder its possible! 

Hey Brent!

I am actually an investor in the south west side of Columbus. There are great little pockets in the area that have huge potential due to their unique local governments. I currently invest in the Valleyview and Northern Hilltop areas. These might not be considered the B neighborhoods you are mentioning but I would say Southern Orchards and Victorian Village would be closer to what you are looking for. 

The areas I focus on look more toward cash flow and mid term appreciation over a term of about 5 years. I have lucked out with the recent market hype and actually have received a lot of appreciation within a year. I would suggest looking for locations that have extra benefits that you as an investor doesn't actually control. Examples are newly paved roads, local school levies passing, and increased amounts of property taxes in recent years. Though most of these are bad for cash flow they typically translate to more appreciation of the property. 

I hope this helps!