Why is the Ohio market so popular right now?

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Why is the Ohio market so popular right now?

Luca Perinuzzi
Real Estate Agent · Long Island, NY · Member since 2023 · 24 posts · 20 votes

I have been seeing that cities like Cleveland and Columbus (Ohio) are becoming increasingly more popular for investors. I'd be curious to know what is making these markets stand out to investors.

Any advice based on experience would be great. Thanks!

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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
3y
Quote from @Luca Perinuzzi:

I have been seeing that cities like Cleveland and Columbus (Ohio) are becoming increasingly more popular for investors. I'd be curious to know what is making these markets stand out to investors.

Any advice based on experience would be great. Thanks!


 Cheap taxes, cheap properties, high cash flow, and high appreciation

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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Luca Perinuzzi:

    I have been seeing that cities like Cleveland and Columbus (Ohio) are becoming increasingly more popular for investors. I'd be curious to know what is making these markets stand out to investors.

    Any advice based on experience would be great. Thanks!


    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.

    New Albany is home to several major data centers including ones operated by Amazon, Google and Facebook, whose parent company, Meta, announced plans in the spring to expand its New Albany campus.
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  • Russ Kitzberger
    Realtor · Cincinnati, OH · Member since 2022 · 81 posts · 58 votes
    3y

    MAJOR ECONOMIC DEVELOPMENT WINS in the past decade; 

    Ohio was setup for success by HUGE new projects by the economic development of the state over the past decade. They are just beginning to come online in the next 2-10 years.  

    There are reasons that the huge projects decided to locate here, but the fact is that there is major tailwinds coming from the projects and investors that understand future demand are choosing to place $ in Ohio (as well as parts of KY, IN, and PA).


    Russ Kitzberger




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  • Alex Deacon
    Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
    3y

    @Luca Perinuzzi google vinebrook homes. They purchased thousands of homes. They are not doing so good. I know the Pittsburgh market but not Ohio. Vine brook was I believe a hedge fund and now they are losing a lot of money. I have heard good things about Ohio but regarless what any agents tell you or other investors, you need to be careful regardless what the market. Start slow and mitigate as much risk as you can.

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  • Jayson Cain
    Lender · Manhattan Beach, CA · Member since 2017 · 423 posts · 268 votes
    3y

    Hi @Luca Perinuzzi,

    I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis. Now, I have a portfolio of Short Term Rentals and Long Term Rentals. I've started looking at Columbus because my business partners have found success doing Mid Term Rentals there and the returns are solid.

    I've also helped other investors with their DSCR loans and flip projects in Columbus. Happy to share my experiences and chat with you more if you're interested.

    1Reply
  • Linda LabbePro Member
    Investor · North Bay, Ontario · Member since 2015 · 709 posts · 263 votes
    3y

    We work in Toledo where there are still great deals in good areas. Cash flow is great and the 2% rules still works there  more then willing to chat with anyone on what we are doing

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  • Michael Key
    Entrepreneur & Real Estate Investor · ID · Member since 2016 · 82 posts · 84 votes
    3y

    My family is originally from Youngstown, OH, and I still have family in that area and the surrounding areas. 

    Ohio was never on my radar because .... well have you been to Youngstown? I know, I'm throwing the state under a bus here.

    But now Columbus and its projects have piqued my interest. Where I got started investing in Boise was great years ago for appreciation. I have so much equity it still boggles my mind.

    But getting cashflow here is impossible unless I can get an estate sale, probate, or preforeclosure.

    I'm curious though, a number of people mentioned appreciation, but I thought Ohio was mostly a cashflow market with little to know appreciation. Has their been upwards appreciation lately?

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    3y
    Quote from @Michael Key:

    My family is originally from Youngstown, OH, and I still have family in that area and the surrounding areas. 

    Ohio was never on my radar because .... well have you been to Youngstown? I know, I'm throwing the state under a bus here.

    But now Columbus and its projects have piqued my interest. Where I got started investing in Boise was great years ago for appreciation. I have so much equity it still boggles my mind.

    But getting cashflow here is impossible unless I can get an estate sale, probate, or preforeclosure.

    I'm curious though, a number of people mentioned appreciation, but I thought Ohio was mostly a cashflow market with little to know appreciation. Has their been upwards appreciation lately?


     Columbus, Ohio has appreciated a lot since I started purchasing in 2017. I love living here as well

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  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    3y

    @Luca Perinuzzi

    Due to rising interest rates and market volatility, investors are wanting more stable growth and more access to affordable price points that cash flow AND appreciate. The coastal markets are starting to pull back where the Midwest isn’t.

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  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    3y
    Quote from @Luca Perinuzzi:

    I have been seeing that cities like Cleveland and Columbus (Ohio) are becoming increasingly more popular for investors. I'd be curious to know what is making these markets stand out to investors.

    Any advice based on experience would be great. Thanks!


     The growth, economic diversity, affordability, rent/price increase, inflow of investment, and low entry point make it very attractive.

    [email protected]614-363-2787
    Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
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    2Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    3y
    Quote from @Luca Perinuzzi:

    I have been seeing that cities like Cleveland and Columbus (Ohio) are becoming increasingly more popular for investors. I'd be curious to know what is making these markets stand out to investors.

    Any advice based on experience would be great. Thanks!

    You should have purchased,5, 6 7 8 years ago, you would have gotten net caps of 25% or better, based on cash purchase, and you would have tripled your money or more. We are still getting 15- 20% net caps, and pricing seems to be steady. Investors from around the world have been and are still buying there. I just locked up 5 more all will have not less then 15% net cap. Two months ago, I purchased a 7 unit, all in 220k, rents about 52km net about 38k. two 4/2's all in 75k, rents are 1300,,,, NOW you understand why many purchase there. 
    All the best 

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