Best Market under 250k

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Best Market under 250k

Jonathan Orr
Developer · Boise ID · Member since 2016 · 287 posts · 110 votes

Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?

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Brian Mineau
Flipper/Rehabber · Columbus, OH (columbus oh) · Member since 2020 · 23 posts · 38 votes
2y

If the investor is looking for properties 6 units and below you can still enter several markets in ohio at that price and the units will be either turn key or close. With decent cash flow. For example 4 unit with 2/1s rents for $850 a unit and building sold for $230k

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  • Brian Mineau
    Flipper/Rehabber · Columbus, OH (columbus oh) · Member since 2020 · 23 posts · 38 votes
    2y

    If the investor is looking for properties 6 units and below you can still enter several markets in ohio at that price and the units will be either turn key or close. With decent cash flow. For example 4 unit with 2/1s rents for $850 a unit and building sold for $230k

    6Reply
  • Jonathan Orr
    OP
    Developer · Boise ID · Member since 2016 · 287 posts · 110 votes
    2y
    Quote from @Brian Mineau:

    If the investor is looking for properties 6 units and below you can still enter several markets in ohio at that price and the units will be either turn key or close. With decent cash flow. For example 4 unit with 2/1s rents for $850 a unit and building sold for $230k


    Interest! Is that most of OH?  I looked at properties in Dayton years ago for an investor and the market to me just seemed rough

    0Reply
  • Brian Mineau
    Flipper/Rehabber · Columbus, OH (columbus oh) · Member since 2020 · 23 posts · 38 votes
    2y

    Dayton and Cincy for sure, outskirts of Columbus and Cleveland as well. I agree there Dayton was rough 2017-2019, it has turned around for sure.

    2Reply
  • Joshua Michael Hauman
    Investor · Cleveland, OH · Member since 2020 · 72 posts · 173 votes
    2y

    There's some pretty interesting international property markets out there where you can find a lot of opportunities significantly under 250k. Bogota Colombia is a primary focus for me this year and we have a client who bought a Villa in Bali Indonesia last year for 110K USD which generates him over 30K NOI a year. Pretty sweet deal since he purchased cash so no debt service.

    I'm also in Ohio so I can agree with @Brian Mineau as well.

    5Reply
  • Simon Ashbaugh
    Realtor · Columbus Ohio, Cleveland Ohio · Member since 2022 · 849 posts · 830 votes
    2y

    Hey Jonathan, don't miss Cleveland and Columbus! Under $250k, you can build a strong multi-family portfolio in these markets, setting yourself up for consistent rental income.

    4Reply
  • Christopher Lathus
    Member since 2021 · 1 post · 1 vote
    2y
    Quote from @Joshua Michael Hauman:

    There's some pretty interesting international property markets out there where you can find a lot of opportunities significantly under 250k. Bogota Colombia is a primary focus for me this year and we have a client who bought a Villa in Bali Indonesia last year for 110K USD which generates him over 30K NOI a year. Pretty sweet deal since he purchased cash so no debt service.

    I'm also in Ohio so I can agree with @Brian Mineau as well.


     Hey Joshua thats such an interesting idea, could I get in contact with you? I'm interested to learn more if you have the time?

    1Reply
  • Account Closed
    Realtor · Cleveland, OH · Member since 2023 · 340 posts · 215 votes
    2y

    Hi, as an Ohio Realtor, I would definitely say Ohio. People from all over the world invest in Ohio real estate. If you have any question, please don't hesitate to contact me. Thanks!

    Regina Blake-Ohio Realtor

    4Reply
  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    2y
    Quote from @Brian Mineau:

    Dayton and Cincy for sure, outskirts of Columbus and Cleveland as well. I agree there Dayton was rough 2017-2019, it has turned around for sure.


     We really like Dayton. There are still some rough parts, but as Brian said, there is more good than bad and the City is really working on turning itself around with some significant improvements and developments.

    [email protected]
    3Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    There are some great deals in Columbus, Ohio. The market is on an excellent growth trend as well. It is now being forecasted as one of the fastest growing markets in the U.S. and prices are still relatively low. It is definitely a market worth looking into!

    [email protected]614-662-1652
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    2Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?




    Hey! I recommend looking into the Columbus market. A lot of out-of-state investors from the east and west coast are investing here due to the crazy growth over the last 3-5 years. Columbus has become a major tech hub in the Midwest with large companies like Intel investing $20 billion, Amazon investing $3.5 billion, Google building 2 new data centers: one in downtown Columbus and the other in right outside of U.S. 33 in Lancaster, there are many properties which you can get in less than 250k, with very high ROI.

    I would work with an investor-friendly agent who focuses on cold-outreach methods like cold-calling, cold-texting, etc to bring you off-market deals under 250k. That is where you will be able to buy deals that are 70 to 80 cents on the dollar.



    [email protected]614-802-5698
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    2Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    Nobody mentioning Detroit yet?

    I guess that's generally my job :-)

    Detroit is crushing it and you can still do small MFH under $250k. My last project just appraised for $193k and generates $2,400 gross monthly rents (duplex).

    Google the "state of the city address". Mike Duggan just gave it the other night and I challenge anyone to watch it and not get excited about what's happening in Detroit.

    2Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    We 2nd Detroit, but most of the Midwest will qualify.

    Logical Property Management4.9453 Reviews
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    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?

    I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here! Population is growing aggressively and jobs are moving here especially with major employers like Intel, Google, Amazon, Nationwide, etc. On top of that, you have one of the biggest and best universities in the world here with Ohio State University. The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here. On top of that, you get great appreciation and very landlord friendly laws. Tons of investors are buying Columbus up! As an investor and agent here, let me know if you have any questions or want to connect

    [email protected]614-300-7535
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    0Reply
  • Jeremy MelloulPro Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 83 posts · 83 votes
    2y

    When targeting markets for investments under $250k, there are several factors to consider, including affordability, rental demand, economic growth, and potential for appreciation. Ultimately, the best market for investing under $250k will depend on factors like your risk tolerance, investment goals, and personal preferences. I personally think Columbus, OH, is the best market for $250k and under. It checks all the boxes regarding the factors I listed above. Currently, Columbus is the fastest-growing city in America, and with good reason. I could go on and on about why one should invest in this city and state, so if you're interested in hearing more, feel free to DM me. 

    I hope I was able to shed some light on your search. Happy hunting!


    380-222-6485
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


     Whole Midwest. Cleveland, Cincinnati, Columbus, Toledo, Detroit, KC, Baltimore etc....

    2Reply
  • Liam Maher
    Miami, FL · Member since 2022 · 60 posts · 39 votes
    2y

    Detroit and Cleveland have the best cash-flow in the country at the moment...lots of properties under $250k there

    1Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


     Hey Jonathan, can't recommend Northern Ky and Cincinnati enough! I could send you at least 5 Small multifamily houses that I think could do well. Not in warzones. let me know if the guy you mentioned in interested

    [email protected]859-443-4952
    Sam McCormack Realtor
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    2Reply
  • Jack Seiden
    Real Estate Agent · Washington DC · Member since 2016 · 847 posts · 656 votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


     I don’t know if these are the best the In the country but two areas I like are the eastern shore of Md, 250k is douable though it’s probably closer to 300k in most parts, another area I’ve started to do more more research on is Lancaster pa.

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


     If you are looking for cheap properties, I would check out Ohio. I started purchasing small multifamily in Columbus, Ohio 7 years ago. The cost of entry is low while the cash flow is high

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Jonathan Orr
    OP
    Developer · Boise ID · Member since 2016 · 287 posts · 110 votes
    2y
    Quote from @Travis Biziorek:

    Nobody mentioning Detroit yet?

    I guess that's generally my job :-)

    Detroit is crushing it and you can still do small MFH under $250k. My last project just appraised for $193k and generates $2,400 gross monthly rents (duplex).

    Google the "state of the city address". Mike Duggan just gave it the other night and I challenge anyone to watch it and not get excited about what's happening in Detroit.


     I had a friend mention Detroit to me randomly.  Don't know any connections there but may need to find a few!  Any recommendations?

    0Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y
    Quote from @Jonathan Orr:
    Quote from @Travis Biziorek:

    Nobody mentioning Detroit yet?

    I guess that's generally my job :-)

    Detroit is crushing it and you can still do small MFH under $250k. My last project just appraised for $193k and generates $2,400 gross monthly rents (duplex).

    Google the "state of the city address". Mike Duggan just gave it the other night and I challenge anyone to watch it and not get excited about what's happening in Detroit.


     I had a friend mention Detroit to me randomly.  Don't know any connections there but may need to find a few!  Any recommendations?

    Yes, happy to help. Feel free to shoot me a DM any time. 
    1Reply
  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?


     Columbus and Cleveland, Ohio, all day. You'll get a great mix of both cashflow and appreciation, and they are two of the top growing cities. 

    3Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Jonathan Orr if you get a chance, watch the NFL draft this Thursday-Saturday, not for the sports part of it, but to monitor the thoughts about Detroit from the visiting media.

    Us Detroiters are expecting a LOT of positive feedback on how the city has improved in the last 10 years.

    PM us if you'd like to chat:)

    Logical Property Management4.9453 Reviews
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  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Jonathan Orr:

    Hey BP, was having a conversation with a newish investor and was discussing markets on a macro level.  We were talking hypothetically if you were targeting markets where investments were under 250k which would be the best markets to look in.  I gave him some ideas, (OKC, Omaha, parts of TX) and he was dead set on the south.
    Thought this would be an interesting question that if you want to build a portfolio but only could target homes under 250k to hold as rentals, where would you look?

     Cleveland of course . 250k you can get 2 duplex's with 40k in rent, net about 28k. I'm closing this week on one all in 90k, with 20k in rent,/ Last week I closed on a 3/2 all in 70k, rented sec 8 for 1300,  

    All the best 

    1Reply
  • Liam Maher
    Miami, FL · Member since 2022 · 60 posts · 39 votes
    2y
    Quote from @Jonathan Orr:
    Quote from @Travis Biziorek:

    Nobody mentioning Detroit yet?

    I guess that's generally my job :-)

    Detroit is crushing it and you can still do small MFH under $250k. My last project just appraised for $193k and generates $2,400 gross monthly rents (duplex).

    Google the "state of the city address". Mike Duggan just gave it the other night and I challenge anyone to watch it and not get excited about what's happening in Detroit.


     I had a friend mention Detroit to me randomly.  Don't know any connections there but may need to find a few!  Any recommendations?


    Joe Hammel (FIRE Realty) is a great investor friendly realtor in the area

    1Reply
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