Columbus On My Mind, Linden Love, from a Newbie:-)

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Columbus On My Mind, Linden Love, from a Newbie:-)

Shauna Hancock
Columbus, OH · Member since 2016 · 4 posts · 3 votes

I was debating if I was going to put myself out here regarding my intentions for getting into real estate investing. I have been reading and learning alot, while observing the bigger pockets community and love all the wealth of knowledge and experience. 


Polaris, Worthington,  Dublin, Clintonville, Easton, and such in Columbus , Ohio seem to be the places of interest for most which is fine but not for me. My interest is in getting in on the revitalization of the Linden area. Weinland, Franklinton, and Mt Vernon have experienced some revitalization efforts so its seems Linden is next on the list.

I favor the couple who rented in a low income area on bigger pockets podcast, I think it was 86 but dont quote me .

 Linden is wide open for investing. I want to be fully invested in the area, so not just real estate but community development. I know its reputation but I know its potential as well.

Linden market is high in Section 8, Hud homes, vacant properties,  land bank homes, and land from demolished properties .
Most are under 20's, many homes are in the 20-30 range, a few in the 40's... even fewer over 50. So I know creative funding is a must.

I plan on registering my business name and getting my business plan finalized to move forward with this entrepenuership path. Hopefully I can link up with individuals interested in the Linden Area or really who just have connections that i surely need. Like investors, contractors, handymen, etc... Thanks for stopping by, look forward to connections made. Blessings
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Jean BolgerPro Member
Aurora, CO · Member since 2012 · 2k+ posts · 1k+ votes
10y

Hi @Shauna Hancock!

I live in Denver but have an investment in Columbus. It's over on the east side on Cleveland Ave near Cooke. I'm not a local but I would say the area is definitely lower working class, but not as rough as some parts of Linden. 

Plenty of people do very well with rentals in tougher areas, it just takes the right combo of business skills and people skills.  On the other hand, you see a lot of people struggling and have to be able to deal with the pain of that. You can't change the world (or the neighborhood) overnight of course, but a good landlord can definitely have a positive impact on neighborhoods (and lives). You might talk to @Al Williamson, who has posted some inspiring things on BP in the past about that very idea. 

I can get you contact info for the property management company I use if you would like. They  might be interesting for you to talk to, since they do a lot of C and D class properties, including some in Linden I think,  and could give you their perspective.

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  • Dan T.
    Columbus, OH · Member since 2016 · 6 posts · 3 votes
    10y

    Hi Shauna, nice to meet you! I'm new to the community as well so I'll let others give you a better welcome but I do have some thoughts on your Columbus & Linden idea.

    My concern with the Linden area is the barrier effect that I-71 has on separating it from Clintonville/Campus/Short North. We see this on the other side with 315/Olentangy River causing a dramatic culture difference in more suburban living in Grandview vs more walkable and urban short north. IMO Weinland Park was a natural candidate because it was squashed between the ever-expanding short north and campus. Huge investment from OSU through Campus Partners has also played a massive role.

    We've started to see some investment in Milo Grogan as of late (Rogue is huge and North High's brewery facilities come to mind as well). But the area in play there is still west of I-71, albeit east of the railroad tracks.

    Anyways, I really like the idea of moving outside of the already up-and-coming areas and investing in community development as well. Care to share any thoughts on the potential you view in Linden? I really know very little about the area and community (other than frequenting the bowling alley on Innis during my college years). Do you have any thoughts on Milo-Grogan?

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  • Jean BolgerPro Member
    Aurora, CO · Member since 2012 · 2k+ posts · 1k+ votes
    10y

    Hi @Shauna Hancock!

    I live in Denver but have an investment in Columbus. It's over on the east side on Cleveland Ave near Cooke. I'm not a local but I would say the area is definitely lower working class, but not as rough as some parts of Linden. 

    Plenty of people do very well with rentals in tougher areas, it just takes the right combo of business skills and people skills.  On the other hand, you see a lot of people struggling and have to be able to deal with the pain of that. You can't change the world (or the neighborhood) overnight of course, but a good landlord can definitely have a positive impact on neighborhoods (and lives). You might talk to @Al Williamson, who has posted some inspiring things on BP in the past about that very idea. 

    I can get you contact info for the property management company I use if you would like. They  might be interesting for you to talk to, since they do a lot of C and D class properties, including some in Linden I think,  and could give you their perspective.

    1Reply
  • Dhanush Kondoth
    Investor · Dublin, OH · Member since 2015 · 75 posts · 24 votes
    10y

    hello @Shauna Hancock

    I just bought a property in North Linden last month. There is a section of Linden which is quite lucrative to investors (at the moment). For example anything south of N Broadway starts to become a bit challenging to handle as the neighborhood starts to transition from C to D very quickly. 

    I have also seen that east of Cleveland Ave is also sometimesomething a bit rough but has some pockets that you will have to do some driving for dollars.

    @Dan T and @Shauna Hancock you guys are more than welcome to stop by my property and discuss. I am starting rehab next week.

    Dhanush

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  • Shauna Hancock
    OP
    Columbus, OH · Member since 2016 · 4 posts · 3 votes
    10y

    Hey @Dan T 

    Thanks for your feedback. You gave me some info I hadnt considered. I have a couple of reasons I think favor Linden


    Mayor Ginther has stated many times that one of his interest is in the revitalization of Linden. He was proposing over 25 million towards Linden Revival for the city budget. I have to see if it passed but the focus has been continous since he came into office

    Before that though, I have relatives that live in the area and can attest to a couple of things. Longevity, Linden folks encountered do not move. My relative has been in her home, rentrd for over 15 years. She pointed out her neighbors, literally only 2 homes on the block had anyone less than 5 years in them. And those two homes where bad, other than that they jusy dont move. Talking to others, even though properties are rented, people stay for the long haul as long as its clean and taken care of.

    My ability to get my first home without a huge investment is another reason. Linden has vacant properties,  sometimes clusters of them but they are not in terrible shape.  From what I have been reading and listening to on bigger pockets people tend to invest in homes over 50000. In Linden I know  that rent amounts are typically 550 to 600+, and thats not even section 8 involvement , and that I could get a rehab property for 2000 or even a decent 2/3 bed for under 20000. I believe that the cashflow could potentially be sooner and I would have the home paid off straight out or under 5 years if Im working still.

    Growth of properties as well, i can see myself investing in a home a year minimum because I have choices in Linden.

    Cleveland Ave runs through Linden and this is propbably where the dreamer side of me comes in. But vacant homes and buildings dont scare me, if anything I see them as oppertunity for growth. I have interest in starting some community initiatives in the area including one to combat the infant mortality issue in the area, and another to help with resume development and interview skills.

    So half of my view of Linden comes from I guess being an easy foot into the door if I get it together. The othrr half os a love for the community and wanting better for it. Hope i could answer. 
    Im work 2nd shift with no phones allowed so it takes me linger to respond.

    Oh and I am not familiar with  Milo Grogan, meaning I probably know it but cant formulate in my head right now :-)
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  • Shauna Hancock
    OP
    Columbus, OH · Member since 2016 · 4 posts · 3 votes
    10y

    Hey @Jean Bolger


    Thank you for the ref, Ill check Al out and I will need that ref for the rental property management at some point,  when I say Im a newbie I mean my feet have just hit the sand;-)

    I defiantly  understand the risk of Linden, just some time ago a family of 4 were murdered very close to were my relative stays. Police are in the area monitoring all the time and some days its a mess. I think because of the connections with family that I have here in the area Im a little more at ease with investing. I have heard stories but seeing how it is helps differentiate what parts of Linden Im looking at. So sense i am getting serious Im going to take in all the tips I can get, including investigating the area, talking to neighbors, not investing in a war zone area, and googling everything :-) thanks for reaching out, all aspects help especially because you have property in the area

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  • Shauna Hancock
    OP
    Columbus, OH · Member since 2016 · 4 posts · 3 votes
    10y

    Hello @Dhanush Kondoth

    I would love to see this place that you bought for rehab. Do you mind sharing your specs, like how much you paid, what mae you choose the area, how was the buying proces. Etc... im excited to know

    I forgot @Jean Bolger to ask you as well about your experience in buying your home in Linden, If you could share rhat would be great 

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  • Ed W.
    Investor / Landlord · Columbus, OH · Member since 2015 · 276 posts · 174 votes
    10y

    @Shauna Hancock I've purchased dozens and dozens of properties all over Linden and still buy there (closed one about 5 weeks ago).   I don't hesitate to buy in South Linden BUT you have to be EXTREMELY picky about the particular street and other details about the location.  One important step for you to take would be a discussion with donna (lower case "d" is how she spells it) Hicho, the Executive Director of Greater Linden Development Corp.  Very nice woman and very dedicated to Linden. 

    In addition to BP was is an extraordinary resource, I strongly urge you to attend real estate investment related meetings in Metro Columbus for education and networking.  There are 2 that are helpful and worthwhile (I'll be at the meeting at Tommy's this Thursday):

    1. COREE (they have a website but I believe they meet the first Tuesday of each month).  

    2. There is a FREE landlording meeting this Thursday, May 26th, at Tommy's Pizza on Dublin-Granville (between Sawmill and Riverside) that features education (a Q&A session geared to newbies for general real estate investing and landlording as well as a featured speaker) and networking and has a good mix of newbies and experienced investors. It starts at 6:00 PM (though you can arrive later) and ends around 9:00 PM or later. Attendance is usually 35-50.This month the scheduled speaker is a Battalion Chief from the City of Columbus, Division of Fire who will be discussing fire safety in rentals.

    You are also welcome to contact me via BP's "Colleague" system.

    1Reply
  • Jill DeWitPro Member
    Investor · Scottsdale AZ · Member since 2015 · 1k+ posts · 423 votes
    10y

    Hello @Shauna Hancock and welcome to BP. BP is a great place for all things real estate. At BP, not only can you network with other real estate investors, you can get great information from this site including free online courses, videos, and BP's podcast in itunes. At BP, the possibilities are endless!

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