Thoughts on OH markets for flipping?

Question

Hello!

We are interested in starting to get into flipping. We are out of country but do have the ability to travel frequently. We are looking for an area to start with low entry points and are thinking OH markets. Thoughts on this? Or are other areas that may be higher entry costs (which we'd have to use financing) a better idea?

Thanks!

Drew Sygit · Answer

@Natasha Rooney and @Fallon Gilbert

You're unlikley to succeed with flipping cheap houses (Class C & D properties), especially remotely:(

First off, do you know of a TV show that covers flipping Class C or D properties?I don't!FYI: my wife asks me all the time how realistic these shows are. The only 100% realistic thing in these shows is the unexpected cost overrun challenge. Every show she's made me watch has an unpleasant surprise found during the renovation - that requires either going over budget, or cutting the budget somewhere else to compensate. - No one has xray vision, so there's ALWAYS a surprise on a renovation of an old house!

BTW: what is YOUR definition of a "cheap house"?

Here in our City of Detroit market, which is similar to most of Ohio, pretty much only Class C-minus & D properties sell for under $100k.

That means to flip it, you have to buy it, renovate it and then sell it for under $100k - and make a profit.

Yes you can still buy houses here in the City of Detroit for less than $50k, but unless you're connected with the local market, 99% of them are going to be:

1) In bad areas that will be hard to find a buyer.2) Need MAJOR renovations pushing your total out-of-pocket amount past market value:(

Most of the properties like this are bought by:

1) Experienced landlords that do cheap, minimum repairs to rent them out. 2) Inexperienced landlords that overpay, then can't figure out why they're not getting their paper ROIs, so they eventually sell at a loss to #1 above.

To have any chance of getting market value, you'd really need buyers that plan to live in the houses. Challenge are:1) Most of the people willing to live in these areas don't have cash, so would need a mortgage.- They may not even have 3-5% to put down!2) Most of the people willing to live in these areas have bad credit, lack of consistent employment, etc., so won't qualify for a mortgage - even if someone gives them the 3-5% down payment amount.If you can find a consistent market for your cheap property rehabs, willing to pay "market value" - then you're smarter than 99+% of the rest of us.

Like several of the responders here, it's our opinion & experience that it's even a challenge to flip Class B properties - but, it can be done.

We assist a lot of our metro Detroit investor clients with this via what we call a BRRR Turnkey - we help them find the property, evaluate Scope Of Work for Rehab budget, do the rehab, place a tenant and then they cashout refinance to repeat the process.

No matter what market you choose to do business in, recommend you stay away from any agent or PMC that's not experienced enough to warn you about these challenges - they are NOT "investor-friendly", just desperately "commission-friendly"!!!

Joseph Tadres · Answer

Hi Natasha, Ohio markets like Cleveland and Toledo offer low entry points and solid returns for flipping. If you're open to financing, higher-cost areas like Columbus may offer better long-term growth.

Remington Lyman · Answer

Ohio have some great flipping options

Angel Vargas · Answer

@Jimmy Lieu hi jimmy I am looking to close on a property in Ohio can we connect and talk

Marc Rice · Answer

Different markets in Ohio offer different entry points and flipping options. Happy to share my experience and contacts in Ohio

Dan H. · Answer

Low entry point typically equates to poor flipping opportunity.   A good flip is where you can add significant value for the amount and effort of the value add.

So if I was going to flip in Ohio, it would be in the higher priced areas.  Columbus might have some decent opportunities.  Look for a wreck in a nicer area.

I watch various flipping shows.   I like many of them.   The lady in Detroit area who restores to classic often does not disclose their return.  The ginger lady and her mom that recently retired produce modest returns.  The hometown couple does rehabs for their clients.  Compare this to flipping el Mousas, flipping 101, renovation aloha, the couple that flipped in Vegas, etc.   It is not rocket science to see where the flips can create great returns versus where the flips generate modest returns.

I did a rehab a year ago in a very costly market.   My wife proposed adding a half bathroom out of existing space in a very small unit.  We used comps to determine the half bathroom would add ~$50k of value.  Crazy!  Easy decision.  How much do you think adding a half bathroom out of existing space would add in a low cost market?  Would it be worth the effort.

Do not buy in a cheap area and expect a flip to provide outstanding return for the effort.   The properties are so cheap that value adds are constrained in the value that can be added.

good luck

Micah White · Answer

Hi Natasha!

There are great flipping opportunities in Ohio. Especially near the universities. It would be helpful to know a little more information about your current financial standing. That way I can better help you come up with a solid plan for your next investment! Feel free to reach out!

Fallon Gilbert · Answer

Following this! I was wondering the same thing.

Micah do you recommend any areas in Ohio specifically?

Jimmy Lieu · Answer

Hey Natasha! That’s awesome you’re looking to get into flipping — and totally doable even from out of the country, especially if you can travel in periodically and build a reliable local team. Ohio can definitely be a solid choice for that low entry point you’re looking for. I’m based in Columbus and also invest here, and we still see deals in the $100K–$180K range with good upside potential. The key is picking the right neighborhoods — areas where retail buyers want to live but there’s still older inventory to add value to. Columbus has been growing like crazy with companies like Intel, Google, and Amazon moving in, so demand has stayed strong and there’s still room for appreciation.

That said, flips here are a volume game — margins are smaller than in some higher-priced markets, so it really comes down to your goals. If you're trying to build experience and manage risk while keeping cash needed upfront lower, Ohio markets (especially Columbus, Cincinnati, or parts of Cleveland) are great starting points. On the flip side, higher-cost markets might offer bigger profit per deal, but you're also looking at bigger holding costs and more exposure to market swings, and you’d likely need financing to get in. So it's a balance of risk, entry cost, and your ability to manage remotely.

If you’re leaning toward Ohio, I’d suggest focusing on areas where there’s strong owner-occupant demand and comps are easy to evaluate. And definitely connect with a solid local agent and contractor you can trust — that’s everything when you’re flipping from a distance. Happy to connect and answer any questions you have!

Matt Dingus · Answer

@Natasha Rooney - Hi Natasha. I work with a lot of out-of-state investors and flippers here in Pittsburgh. We have a great amount of opportunities here for flips. Most purchase prices are somewhere around 80-150k purchase I would say for a decent project with a good spread. Affordability is huge right now when it comes to housing, and with Pittsburgh having that quality as well as being a booming city with a high quality of life when it comes to opportunities, arts/entertainment, tech., parks, etc. I would definitely recommend considering it as you're jumping in.

Thoughts on OH markets for flipping?

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