What’s the deal with Ohio?

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What’s the deal with Ohio?

Cameron McNulty
Minneapolis, MN · Member since 2020 · 61 posts · 56 votes

Hi guys, this one is for my OHIO investors/real estate people. What’s the deal with Ohio? I swear people are RAVING about Ohio, I can’t stop hearing Ohio and real estate in the same sentence LOL.

The only thing I really know about Ohio, is that not a lot happens in Ohio. This is probably an ignorant statement so TELL ME... Is there something i’m missing about the great state of OH?

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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
5y
Originally posted by @Joe S.:

I see so many people promoting Ohio I almost wonder if it’s being oversold. I kind of wondered about that myself because they have a higher number of realtors promoting their services than it seems any other state.

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  • Cameron Johnson
    Member since 2021 · 1 post · 1 vote
    5y

    @Cameron McNulty it's quite simply has a big population with cities with big city qualities yet. You are 5 minutes away from Amish country. Ohio is a very good estimate of how the Midwest as a whole is doing simply because it's Nebaska and Chicago in one.

    1Reply
  • Corey Frank
    Gillette, WY · Member since 2017 · 149 posts · 68 votes
    5y

    @Steven Wilson Ohio had a population of 11.3 million in the year 2000 and 11.7 million in 2021… 400k increase. neighboring states with half of the original population saw the same or close to the same growth in numbers. The population growth chart for Ohio is practically a flat line for the last decade.

    1Reply
  • Corey Frank
    Gillette, WY · Member since 2017 · 149 posts · 68 votes
    5y

    @Cameron McNulty this is such a good question. I see so much hype about Ohio as well. I looked into Cleveland and the numbers really scared the s**t out of me at first glance. Population decrease year after year since the 60s and a lot of people under the poverty line. 🤷🏼‍♂️

    0Reply
  • Mike Mocek
    Property Manager / Licensed Realtor · Toledo/Columbus, OH · Member since 2019 · 244 posts · 262 votes
    5y

    I agree @Corey Frank I bought my first portfolio in Cleveland in 2012 and I am getting out of there now.  My properties have decreased significantly even though most have brand new roofs, siding, complete interior rehabs etc just within the past 5 years.  I can't wait to get out of there.

    1Reply
  • Corey Frank
    Gillette, WY · Member since 2017 · 149 posts · 68 votes
    5y

    @Mike Mocek Really?! I wondered about low income type housing in Cleveland. Trying to find an area where the tenets won't destroy your property but you still have reliable income. (If a match like that exists 😂) Happy to hear you are getting out of a bad area! Have you looked into Columbus? From my initial analysis of Columbus, it looks like they are experiencing a lot of the growth that is happening for Ohio. 

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Corey Frank:

    @Mike Mocek Really?! I wondered about low income type housing in Cleveland. Trying to find an area where the tenets won't destroy your property but you still have reliable income. (If a match like that exists 😂) Happy to hear you are getting out of a bad area! Have you looked into Columbus? From my initial analysis of Columbus, it looks like they are experiencing a lot of the growth that is happening for Ohio. 

     The growth in Columbus, Ohio has been unreal.

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  • Michael K GallagherBusiness Member
    Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
    5y

    I have to agree with all the sentiments about Columbus. Being a small investor/self manager the tenant pool is great, their is so much diversity of neighborhoods, so you can really get into just about any "class" area or building if you want. There is still ample small multi family that need forced appreciation, and the rents actually support them. For example I have a Duplex I bought almost 3 years ago for $318K, it appraised at the end of 2019 for $340K, have not gotten another one since...but I get $1350 per side, and I purchased it completely gutted and flipped. So although its not a 1% rule, I'm willing to give up the cashflow for the lack of Capex and Maint needs.

    As many others have mentioned the ability to live "in the country" but still be within a 30 min drive of downtown really allows for a wide variety of properties to fit a wide variety of investment needs. 

    [email protected]614-362-2231
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  • Corey Frank
    Gillette, WY · Member since 2017 · 149 posts · 68 votes
    5y

    @Michael K Gallagher That is fantastic! 

    1Reply
  • Clay Boykin
    Real Estate Agent · Columbus, OH · Member since 2021 · 98 posts · 101 votes
    4y

    @Cameron McNulty Ohio is really overlooked in some cases. Now beware I am going to go on a tangent about Ohio here (because I do live in the market and am really boots on the ground). Columbus has one of the most diverse real estate markets in the U.S right now, leaving your investing opportunities widely spread. The market is on track to reach another 1m in population in the coming 7 years. This market is pretty self sufficient. Buyers come in and do a quick flip while capitalizing on their investment in about 3-4 months (for the semi-pro investor). For sellers, the "days on market" is dropping pretty steadily. The average days on market for Columbus right now is around 15 days. Which is extremely low compared to other high investor markets. There are really no downs right now or in the future for investing in Columbus. Feel free to reach out to me for any further questions. Happy Investing!

    0Reply
  • Hemrajsinh Waghela
    Member since 2021 · 25 posts · 21 votes
    4y

    I started Investing in Dayton Area in OCT 2020. Returns are great, prices have definitely gone up since then but Apartments are never vacant. Mostly long term tenants. Ohio is landlord friendly state and have currently 80+ doors and buying more. I would definitely invest in OH for so many reasons. For landlord most important is stability in rent roll and long term tenants, so you get both in here. Inventory is very low and most owners are OUT OF STATE. 

    Only issue here is No good management companies. And most owners who are selling are because of that reason. otherwise its good.  
     

    2Reply
  • Joshua JanusBusiness Member
    Realtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    Here are a few reasons to dive into Ohio, or Columbus more specifically. 

    https://www.dispatch.com/story...

    https://www.10tv.com/article/m...

    https://news.wosu.org/news/202...

    [email protected]614-502-5316Podcast Guest on Show From DoorDasher to $1.5 MILLION in Real Estate (All at 22 Years Old!)
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