guidance investing in Ohio
Hi,
I'm an out of state investor and would like to connect with active investors in Ohio. I've done some brief research and it seems like areas such as Akron, Youngstown, Dayton, Toledo and Cleveland have good city-average cap rates. Open to any advice or contacts you guys could offer to help me get started.
Also, any advice on what I need to be aware of? Or areas I should stay away from?
Thanks
Most Popular Reply
You're casting a very wide net right now. Every market has its pros and cons. You can literally rent a house or apartment in any market which means that some investor figured out how to make money there. I'm in Zanesville, OH. Very rural market and you can get some good cash flow on cheap houses, but you're not going to get rich on appreciation anytime soon. You need to get specific on your criteria and what your goals with REI are and then you can really hone down on a market. Ohio has already piqued your interest, I'm sure one of those cities that you mentioned is more appealing to you than the others. Just research that one market and find your niche within it. It's counter intuitive but the more specific your focus is, the more likely you will find what you are looking for. There are thousands of people on BP that LOVE Ohio and an open ended request for advice or contacts could quickly overwhelm you.