LA Investors Interested in Rental Properties in Columbus Ohio

6 Replies

Hey BP,

My partner and I are interested in buying Multi-family property in Columbus, preferably with owner financing options . My partner will be attending an RE seminar on Thursday in Columbus, and I will be flying out to meet him in the afternoon.

It'll be a quick visit, but we'd like to get to know the area. Are there any neighborhoods you would recommend?

Any comments or suggestions would be much appreciated.

Thanks,

Oscar

What size properties? Columbus is one of the best cashflow markets in the US and buying is very competitive. Unless you are able to find a pocket/off market mom and pop deal (will take lots of networking and boots on the ground and are increasingly rare) owner financing will not win you many deals. It's a great market and to win you're probably going to have to be relatively aggressive with your terms (quick close, hard earnest money, waive some contingencies) and offer price. Good luck! 

Hey Spencer,

We're looking for semi mid-sized multi-family( in the 5-20 unit range). We've been looking into Columbus for some time now, and now we have an opportunity, though a short one, to get our boots on the ground.

I had a feeling this would take work. But we plan on making it a successful trip. Thanks for chiming in!

This post has been removed.

Originally posted by @Oscar Torres :

Hey BP,

My partner and I are interested in buying Multi-family property in Columbus, preferably with owner financing options . My partner will be attending an RE seminar on Thursday in Columbus, and I will be flying out to meet him in the afternoon.

It'll be a quick visit, but we'd like to get to know the area. Are there any neighborhoods you would recommend?

Any comments or suggestions would be much appreciated.

Thanks,

Oscar

 Hi Oscar, it really comes down to something I have posted about in these forums before....risk tolerance.  As with any investment, there are properties that are a slightly more risky investment in up and coming areas like Old Town East for example and, in general, the returns are higher on those investment properties.  Alternatively, there are properties around the Ohio State University for example that are a less risky   investment but also have a lower return. One kind of investment is in no way better than another as each investor has a different level of risk tolerance.  Additionally, many folks are invested in both kinds of property. An investor may have a property in a B- or A area that is a long term buy and hold and then diversify and invest in a slightly more risky property in a C area that will be a B in the next 3 to 5 years. Good luck with everything! 

Thanks for sharing this info Robert. I look forward to seeing what Columbus has to offer.

Appreciate the feedback.

Oscar

Originally posted by @Oscar Torres :

Hey BP,

My partner and I are interested in buying Multi-family property in Columbus, preferably with owner financing options . My partner will be attending an RE seminar on Thursday in Columbus, and I will be flying out to meet him in the afternoon.

It'll be a quick visit, but we'd like to get to know the area. Are there any neighborhoods you would recommend?

Any comments or suggestions would be much appreciated.

Thanks,

Oscar

 Multi-family with owner financing is best case scenario!  I would say these don't usually happen but I actually just got in contract on a 12 unit off market multi where the owner is financing about 40% for us for 1 year.  I think typically the seller will want to get out in a shorter term.  

What does this first deal look like?

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