New from Columbus, OH - Interested in Multi-Family/Flipping

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

Hello Everybody! I'm a Columbus native with a goal to owner occupy my first Multi-Family home mid next year. Also interested in learning how to flip!

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Umar JavaidPro Member

BiggerPockets Support · São Paulo, São Paulo · Member since 2015 · 548 posts · 79 votes

Hi @Evan Campbell Welcome to BiggerPockets!

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Umar JavaidPro Member
BiggerPockets Support · São Paulo, São Paulo · Member since 2015 · 548 posts · 79 votes
9y
Hi @Evan Campbell Welcome to BiggerPockets!
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Sharon Seiter
Wooster, OH · Member since 2016 · 38 posts · 19 votes
9y
Welcome Evan! I'm also in Columbus, although not a native. :) I'm on a similar timeline, with a goal of doing an FHA loan for owner-occupied multifamily next spring/summer. What areas are you looking at? We're currently leaning toward Dublin/Hilliard because we have little kids, and the school systems seem to attract stable tenants.
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Justin Taber
Agent · Columbus, OH · Member since 2014 · 77 posts · 23 votes
9y
Hey @Evan Campbell, congrats on getting interested in Real Estate Investing. BP is a great resource, I started out owner occupying my first investment property too! I think thats a great way to learn the basics and figure out what its going to take. If there is anything I can do to help please let me know.
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Evan Campbell
OP
Columbus, OH · Member since 2016 · 3 posts · 4 votes
9y
Originally posted by @Sharon Seiter:

Welcome Evan! I'm also in Columbus, although not a native. :) I'm on a similar timeline, with a goal of doing an FHA loan for owner-occupied multifamily next spring/summer. What areas are you looking at? We're currently leaning toward Dublin/Hilliard because we have little kids, and the school systems seem to attract stable tenants.
I am actually looking in areas that are in the process of being revitalized so I can see significant value increase on the property in the long run. Franklinton, Old Towne East, and Marion village specifically. Dublin/Hilliard are great neighborhoods!
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
9y
Originally posted by @Evan Campbell:

Originally posted by @Sharon Seiter:
Welcome Evan! I'm also in Columbus, although not a native. :) I'm on a similar timeline, with a goal of doing an FHA loan for owner-occupied multifamily next spring/summer. What areas are you looking at? We're currently leaning toward Dublin/Hilliard because we have little kids, and the school systems seem to attract stable tenants.
I am actually looking in areas that are in the process of being revitalized so I can see significant value increase on the property in the long run. Franklinton, Old Towne East, and Marion village specifically. Dublin/Hilliard are great neighborhoods!
Welcome Evan! As funny as it sounds even the areas you mentioned can be segmented. West Franklinton has plenty of inventory for multifamily, but in my personal opinion won't see a lot of revitalization for quite some time. All of the new developments near this downtown columbus area are in East Franklinton. OTE is an amazing area right now and I think there are even great areas for cash flow that extend North of Broad into King lincoln area. Merion Village in my personal opinion is going to be difficult to get a "great deal" but there are plenty of opportunities still. Most of the multifamily in this area is trading at a premium that doesn't have much upside in my opinion. But in all of these areas, I think you can attract the same stable tenants as other areas of town.
I also did an FHA my first property. Even though it's less down, make sure you are buying right! When I started I almost bought an overpriced double in Victorian Village that really would have set me back. Get a great inspector (let me know if you need one) who is experienced in multifamily properties. With all of those you will succeed. If you'd ever like to meetup and grab coffee let me know!
Again, welcome and I hope this helped!
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