Which Ohio City is good for Cash flow relative to Quality

25 Replies

I am an OOS investor looking at Ohio (for next year) and I have narrowed my opinions to Cincinnati, Dayton and Toledo. If there is another City I should have on my list, let me know. I am interested in properties in the $30K-$70K range for SF and less than $375K for MF. What I am looking for is Cash Flowing properties and if appreciation happens, then that is a bonus (my focus is good cash flow properties). Here are my questions:

1)Which of these 3 cities will cash flow the best relative to Purchase price of property

2)I was told that neighborhood quality in Cincinnati changes block by block which will require more local knowledge than I have...which of these cities has the best broad range/spread of quality neighborhoods (interested in B and C type properties)

3)If you know good Realtors in these cities who are OOS investor friendly, please provide info

4)If you know good Property Managers, please provide info

@Toks Akindele you get what you pay for. If you're looking to invest 30k into a tertiary market, don't expect much in return.

However if you want to invest just a little more in a solid secondary market like Columbus, you will see huge appreciation and awesome CF.

My two properties here have a net cash flow of more than $1,500 and over $100k in appreciation!

Originally posted by @Toks Akindele :

I am an OOS investor looking at Ohio (for next year) and I have narrowed my opinions to Cincinnati, Dayton and Toledo. If there is another City I should have on my list, let me know. I am interested in properties in the $30K-$70K range for SF and less than $375K for MF. What I am looking for is Cash Flowing properties and if appreciation happens, then that is a bonus (my focus is good cash flow properties). Here are my questions:

1)Which of these 3 cities will cash flow the best relative to Purchase price of property

2)I was told that neighborhood quality in Cincinnati changes block by block which will require more local knowledge than I have...which of these cities has the best broad range/spread of quality neighborhoods (interested in B and C type properties)

3)If you know good Realtors in these cities who are OOS investor friendly, please provide info

4)If you know good Property Managers, please provide info

 Why not Columbus, Ohio?

Toledo has very good cash flow. Try LaPlante real estate they can help you through the whole process with buying, make ready renovations, and property management. @Mike Mocek works there.

@Toks I am in the Cincinnati area if you need any help with what Good vs Bad areas in the Cincy market  let me know  It also depends on the class of property you are looking at

Originally posted by @Remington Lyman :
Originally posted by @Toks Akindele:

I am an OOS investor looking at Ohio (for next year) and I have narrowed my opinions to Cincinnati, Dayton and Toledo. If there is another City I should have on my list, let me know. I am interested in properties in the $30K-$70K range for SF and less than $375K for MF. What I am looking for is Cash Flowing properties and if appreciation happens, then that is a bonus (my focus is good cash flow properties). Here are my questions:

1)Which of these 3 cities will cash flow the best relative to Purchase price of property

2)I was told that neighborhood quality in Cincinnati changes block by block which will require more local knowledge than I have...which of these cities has the best broad range/spread of quality neighborhoods (interested in B and C type properties)

3)If you know good Realtors in these cities who are OOS investor friendly, please provide info

4)If you know good Property Managers, please provide info

 Why not Columbus, Ohio?

A few people have also mentioned Columbus, OH ..that just slipped my mind. I will look into it. Thanks for the opinion

 

@Lee Ripma, I live in neighboring Indiana. What are your thoughts on Indianapolis vs markets like Fort wayne vs Evansville.  Currently live in Indianapolis but have roots in FW.  Thanks!

Thanks for the shout out @Michael P!!

@Toks Akindele . When reviewing Toledo properties you will discover that the Toledo market is different from all others, not to mention, extremely low purchase prices on fixer uppers as compared to their retail value, Toledo is full of promises. The need for quality residential and commercial space has become astonishing, making the right investment in Toledo is sometimes not easy with so many different projects to choose from. Whether it is Single-Family homes, Multi-Family homes, mixed use or any other type of property, with such a high demand in Toledo, it rarely stays on the market for a great length of time.

Some reasons why so many people are flocking to invest in this cosmopolitan community would be:

- Low inflation

- One of the safest cities in Ohio

- Low cost of living

- Growing metropolitan

Toledo Investment Properties provide investors with a unique comprehensive platform that makes Toledo a logical place to invest in. The area is always expanding the business district as well as downtown, from Access to low cost regional talent, competitive real estate cost, strong work ethics and excellent facilities for sports, shopping, leisure and healthcare. All-In-All, Toledo Means Business!

I would be more than happy to discuss options of the Toledo Market and answer any questions you may have pertaining to purchasing, selling and property management.

@Fawaz Hasnain

So I think you can be successful in any market in RE with the right strategy. My personal strategy for rentals is very specific - buy value-add MF below replacement cost (what it costs for new construction) in areas with growing population in MSAs with populations greater than 150k within 50 miles of a major airport. Pretty darn specific right? So the markets you mentioned don't work for MY strategy. Doesn't mean they don't work for YOUR strategy. Indianapolis just doesn't have the growth. I really want to buy in areas that are growing. Lots of people want cash flow and think cash flow comes first. Well cash flow isn't much of a return driver so I'm more focused on forcing appreciation in growing areas. If you listen to my podcast I talk about how cash flow is more of a hedge and isn't much of contributor to overall ROI. Different strokes for different folks but watch out for the cash flow kool-aid!