Invest in Cleveland/Akron or Columbus Ohio?

Question

Hi Investors, Brokers, and Realtors:What do you recommend to a California investor that wants to invest in Ohio for Cash Flow? I know the appreciation is not the greatest but cash flow is great. I have heard good things about both. My criteria is pretty much cash flow, landlord friendly, I want multi-family over SFR, Section 8 tenants mostly.

Thanks!

Joshua Janus · Answer

Section 8 (CMHA in Cleveland commonly) is a great way to create long term consistent cash flow. You can do it in single family and multi family.

Steven Foster Wilson · Answer

Some of my properties in Columbus have tripled in value in just a couple of years. Some of my Cleveland properties are hitting the 2% rule. Take your pick of cashflow or appreciation. Ohio has a variety of markets. Or if you want 4% rules (with some shady tenants like hookers and drug dealers) you could buy in East Cleveland or parts of Toledo!

Christopher Abele · Answer

Since when do you not have hookers and blow in Columbus?

Bonnie Low · Answer

Gordon are you a contractor? If so, I'd love to connect. We're buying in Dayton but have mostly been looking at turnkey because we don't have relationships with trade I am an investor who acts as contractor on properties that I own. I switched from buy and hold to fix and flip fully rehabbed single family while I scoop up duplexes.. kind of a hobby going through abandoes

Tim Ryan · Answer

I'm always buying for cash flow and appreciation. My market is in the midwest, but not Ohio. My answer to you is to demand both. I told about me first to show you can find it.

Remington Lyman · Answer

Columbus, Ohio is a great market to pick up rental properties because of the lower home prices and demand from renters. JPMorgan Chase, Nationwide, Honda, L Brands, Huntington, and Amazon are just a few of the many companies that have thousands of jobs in the city.

I recommend you build a core 4

Gordon Starr · Answer

In Cleveland and Dayton, the city proper has alot of vacancy. Until recently you could buy an abandoned house for the same price as a vacant lot from the city planners. They were literally selling houses for the price of dirt... I was getting cash flows on such property of 30 percent of capital outlay. BUT.. I do it all myself.. am there on location alot. ..know the neighbors... Come by my places en route to my other places right by my home.. it's impossible to do that from a distance.. so you are going to need a team if you are from out of town... The higher the cash flow the higher the risks it seems

Jimmy Lieu · Answer

Hi Anthony, personally, I really like Columbus Ohio and work 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. Just a few weeks ago, I helped a client close on a deal getting them 20% cash on cash return. My biggest advice for out of state investors is finding the right team members who has your best interest at heart (and not chasing a commission check or see you as a paycheck!). If that means interviewing multiple people, you should definitely do so! As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Evan Lewellen · Answer

Columbus or Cincinatti for a more balanced mix of cashflow and appreciation. Cleveland or Dayton if cash flow is main priority

Invest in Cleveland/Akron or Columbus Ohio?

Invest in Cleveland/Akron or Columbus Ohio?

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