Investing in Cleveland and Columbus OH

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Investing in Cleveland and Columbus OH

Mark Vazquez
Rental Property Investor · Member since 2020 · 20 posts · 20 votes

Rookie OOS investor trying buy and hold. Looking to invest in Cleveland and Columbus OH area. Need to connect with any solid agents and lenders that understand this process. Talked to a few and it like going to the dentist, sucksssss..... any help would be greatly appreciated!

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Jacob Repreza
Real Estate Agent · Orange County, CA · Member since 2016 · 207 posts · 111 votes
6y

You're gonna get a whole lot of people swarming you after mentioning columbus so good luck with that lol 

But me and my team are out in Cleveland. I'm not gonna try to convince you to invest there as i'm sure you've done your research and will choose wisely. I did notice you said you wanted to invest in C/D areas tho so my best suggestion is make sure you know the areas really well as that C/D area can turn into an F area rather quickly. And get a property management team that knows those areas. We do more of the A/B areas as we just prefer them.  

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  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    6y

    @Mark Vazquez I don't invest in those cities but we have tons of OOS investors in my market. I never realized that fact until I began my journey with REI.

    Anyways... How many times have you visited Cleveland or Columbus? What neighborhoods are you looking in? Those cities are similar to Indy. It's hard to build a team without taking the time to meet and connect with agents and wholesalers in person. It's street-by-street. You'll gain better knowledge just by renting a car and driving the neighborhoods. 

    2Reply
  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Jaron Walling thanks for the advice. No, I have not visited the areas I'm inquiring about yet. Trying to get into C to D properties. Trying to line up with the right people before I do go out there. Since I'm OOS, I don't want to waste too much time filtering people when I'm there. I'd like to hit the ground running sort of saying. The good thing is I have my brother who just moved out to Columbus who is my eyes right now over there.

    3Reply
  • Jacob Repreza
    Real Estate Agent · Orange County, CA · Member since 2016 · 207 posts · 111 votes
    6y

    You're gonna get a whole lot of people swarming you after mentioning columbus so good luck with that lol 

    But me and my team are out in Cleveland. I'm not gonna try to convince you to invest there as i'm sure you've done your research and will choose wisely. I did notice you said you wanted to invest in C/D areas tho so my best suggestion is make sure you know the areas really well as that C/D area can turn into an F area rather quickly. And get a property management team that knows those areas. We do more of the A/B areas as we just prefer them.  

    4Reply
  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Steven Wilson thanks for the info. Ill reach out to you!

    1Reply
  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Jacob Repreza aaaaye! A fellow Titan!!! I know, been getting all the wrong attention. Comes with the territory I guess. I've have been actively looking in Cleveland as well. Maple Heights, East Cleveland, and Garfield Heights! Im actively looking right now for a agent right now there too.

    Can I bug you with some quesrions when your free?!

    1Reply
  • Jacob Repreza
    Real Estate Agent · Orange County, CA · Member since 2016 · 207 posts · 111 votes
    6y

    @Mark Vazquez AYEEEE TITAN UP. 

    and yea man that's just going to happen. Columbus is super hot right now so agents there got the keywords on LOCK lol but anyway, we were in the process of purchasing a whole 14 property portfolio in maple heights but it fell through. We don't really look at garfield heights and then we never look at East Cleveland. We're in south euclid, Cleveland Heights, University Heights, and Shaker Heights.

    Feel free to reach out tho! 

    1Reply
  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    6y

    Hi @Mark Vazquez, both markets have there pros and cons. I would be happy to answer any questions you might have about the Columbus market!  

    1Reply
  • Dwayne L.
    Rental Property Investor · Atlanta, GA · Member since 2020 · 16 posts · 8 votes
    6y

    @Mark Vazquez Get with me Mark! I'm consistently working deals under the radar in Ohio.

    2Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    6y
    Originally posted by @Mark Vazquez:

    Rookie OOS investor trying buy and hold. Looking to invest in Cleveland and Columbus OH area. Need to connect with any solid agents and lenders that understand this process. Talked to a few and it like going to the dentist, sucksssss..... any help would be greatly appreciated!

     Two very different markets really. Cleveland's pricing is a fraction of what you'll see in Columbus. However the population trends in Columbus are much better. For more detail on the Cleveland market in relation to investment risk/reward give The Ultimate Guide to Grading Cleveland Neighborhoods a read.

    2Reply
  • Scott Starrett
    Rental Property Investor · New York City, NY · Member since 2016 · 49 posts · 36 votes
    6y

    @Mark Vazquez

    Yes I agree with @jameswise the population trends in Columbus are more attractive (increasing population)

    An older article but interesting perspective —

    https://www.forbes.com/sites/adammillsap/2018/08/06/columbus-ohio-is-booming-but-will-it-last/

    In Columbus, I recommend learning about potential growth neighborhoods: Southern Orchards, Milo-Grogan, Franklinton.

    2Reply
  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @James Wise yes they are indeed! I chose Columbus due to have my brother move to Powell just recently. He'll be my boot there. The appreciation in Columbus is something I'm looking at from that stand point.

    For the Cleveland market, the reason is section 8 and Eden. I like the payment being on time and without delay that brings. Of course tenants bring issues that arise but that's why you would have your core team set.

    I plan to go out there soon to meet with people to set up my team before I buy anything. Thank you for that article. Pretty much what I've already have read on the city demographic.

    James, do you invest there? If so, when did you start and why? How do you like it? So for the many questions. Just trying to pick up any nuggets I can.

    Thanks!

    1Reply
  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Scott Starrett I have been doing my research in those areas. My brother just moved to Powell and he will be my boot on the ground. I'm willing to give up a little cash flow for a better appreciation in Columbus. As opposed to Cleveland where its opposite.

    Do you invest in the city? If so, how long and why? How is it going for you? So for the many questions but like I said, newbie investor just trying to pick up nuggets where I can!

    Thanks for the article!

    1Reply
  • Scott Starrett
    Rental Property Investor · New York City, NY · Member since 2016 · 49 posts · 36 votes
    6y

    @markvazquez

    I don’t yet invest in Columbus, tho I hope too in the coming year! I still have more learning to do, I like to build a strong investment thesis before deploying capital. 


    (My first investments were in Cincinnati.)

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Mark Vazquez:

    @Scott Starrett I have been doing my research in those areas. My brother just moved to Powell and he will be my boot on the ground. I'm willing to give up a little cash flow for a better appreciation in Columbus. As opposed to Cleveland where its opposite.

    Do you invest in the city? If so, how long and why? How is it going for you? So for the many questions but like I said, newbie investor just trying to pick up nuggets where I can!

    Thanks for the article!

     I have 27 doors in Columbus, Ohio. My properties are in Old North Columbus, Franklinton, and Southern Orchards.

    It is going extremely well for me.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Remington Lyman great job man!

    I hope to do extremely well as well!

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    6y
    Originally posted by @Mark Vazquez:

    @James Wise yes they are indeed! I chose Columbus due to have my brother move to Powell just recently. He'll be my boot there. The appreciation in Columbus is something I'm looking at from that stand point.

    For the Cleveland market, the reason is section 8 and Eden. I like the payment being on time and without delay that brings. Of course tenants bring issues that arise but that's why you would have your core team set.

    I plan to go out there soon to meet with people to set up my team before I buy anything. Thank you for that article. Pretty much what I've already have read on the city demographic.

    James, do you invest there? If so, when did you start and why? How do you like it? So for the many questions. Just trying to pick up any nuggets I can.

    Thanks!

     Yes. We run a $50+ Million rental portfolio out in Cleveland. Mostly C and D class cash flow rentals with a few commercial assets mixed in.

    2Reply
  • Andrew Weiner
    Property Manager · Cleveland, OH · Member since 2020 · 268 posts · 315 votes
    6y

    @Mark Vazquez I Strongly recommend that you avoid East Cleveland, it is a solid F.  The other areas that you are looking in are teetering and depending on where in the city you buy they can be better or worse.  You definitely should make a trip to any potential markets, walk the streets where the rental properties are, walk units that are listed in each market, talk to locals, you will find which areas you are more comfortable working in.

    1Reply
  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Andrew Weiner thanks Andrew! Would love to discuss this further!

    0Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    6y
    Originally posted by @Andrew Weiner:

    @Mark Vazquez I Strongly recommend that you avoid East Cleveland, it is a solid F.  The other areas that you are looking in are teetering and depending on where in the city you buy they can be better or worse.  You definitely should make a trip to any potential markets, walk the streets where the rental properties are, walk units that are listed in each market, talk to locals, you will find which areas you are more comfortable working in.

    I think it would take a couple of trips to get a good idea by walking neighborhoods and talking to locals.  Perceptions are often different that reality especially for the general population who don't know the values of properties in the cities in question.  Having those conversations will help but getting an experienced realtor would go a lot further. 

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  • Mark Vazquez
    OP
    Rental Property Investor · Member since 2020 · 20 posts · 20 votes
    6y

    @Robert Ellis thanks Robert, I have been suggested this and will do. I plan to traveling there very soon to meet my core people needed to make this happen!Luckily my brother just moved out there, so he'll be my boots on the ground when needed! Would like to pick your brain if you wouldn't mind!

    0Reply
  • Connor Johnson
    Property Manager · Columbus Ohio · Member since 2015 · 11 posts · 8 votes
    5y

    Being born and raised in Columbus I am bias but it is a great market apperception has been insane to say the least, secondary markets are great as well with the majority of suburbs having fantastic schools and they have less competition. We have a 20 unit building in Westerville that was a killer deal and pulls 950 plus rents. If you want to connect, more than happy too. 

    1Reply
  • Michelle Fenn
    Real Estate Agent · Cleveland OH · Member since 2015 · 213 posts · 275 votes
    5y

    I am a realtor and property manager, I can be helpful in Cuyahoga, Summit and Lorain counties.    I not only sell and manage I own over a dozen properties of my own.   Been doing this since 2009, I a have seen the bottom and now the top.   1031 Swap is a wonderful thing.   Feel free to reach out to me for advise. 

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