Columbus or Cleveland Ohio for BRRRR/Cashflow?

Question

Any agents or investors in Columbus or Cleveland Ohio? I live in Hawaii and choose Ohio to be my area for my first investment. I plan to do long term rental with high cash flow. What city would be better? Job and population growth seem big in those cities as well. Any advice is appreciated. Thanks.

Brandon Goldsmith · Answer

Columbus is a higher purchase price but more growth overall for the long term. Cleveland will be easier to enter as the numbers will look a little bit better due to the price points. Just all depends on the long term goals. @Mandy Adams

Patrick Drury · Answer

@Mandy AdamsIf you are comparing the markets they are both solid. Columbus is a better market for buy-and-hold over the long term and cleveland will offer better cashflow.

Remington Lyman · Answer

Cleveland would be a higher cash flow market vs Columbus, Ohio

Jimmy Lieu · Answer

Hi Mandy, I personally love Columbus Ohio and as someone who works 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. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

James Wise · Answer

Cleveland you'll get cheaper properties. Columbus you'll get properties that will probably have much higher value growth over the next 10-20 years.

James Wise · Answer

My thoughts on 44105 as well as all the other zip codes in the Cleveland market are here in The Ultimate Guide to Grading Cleveland Neighborhoods.

Nicholas L. · Answer

@Mandy Adams

BRRRR is not a cash flow strategy right now.  if done successfully - which is difficult OOS - you will get equity, not cash flow.

James Wise · Answer

Up to date

Srini Murthy · Answer

Thanks that is the first thing I look at for anything Cleveland . Any changes since or it is actively up to date?

Robert Ellis · Answer

hard to compare the two and most out of state investors do but it's not even close by demographics, population patterns, economic drivers, etc. look at jobsohio.com if you want to review central oh numbers. for columbus if you look at new construction as an equity driver may be a strategy to consider before jumping on an old existing home that you have no control over. we do turn key development and construction for individuals and corps and would be happy to discuss.

Columbus or Cleveland Ohio for BRRRR/Cashflow?

Most Popular Reply