Going out to Columbus. Recommendations?

Question

James Kojo · Answer

Now that I have visited Columbus, my scientific conclusion is that Columbus is all kinds of awesome.

I was only there a couple of days, but it was a fairly easy town to get to know.

On the tourist side, I did a walking tour of downtown which eventually took me to the Short North, which was a real blast. I ended up meeting a lot of really great people in my journeys, and some of them were actually REI's, so that was a lot of fun.

On the investor side, I toured a few properties (duplexes all the way up to  a 24 unit) with Robin and David Panzera, who own Panzera Realty (combined sales and PM introduced via @Sarah Wheeler. ) I was in contract with a 4-plex in Westerville, which is why I flew out there in the first place. That deal looks like it's going to close soon, and I have a few more "irons in the fire". All indications are that they are a great shop, and I really like working with Robin on the acquisitions side.

I also met with @Robert Ellis and team while I was there. They gave me a bunch of new ideas to think about, so if you're in town, I would definitely recommend looking them up. They definitely have and investor focus and mindset, and they present all of their deals through an investor lens.

That all said, Columbus is not quite a "hidden gem." Talking to vendors and providers, they are getting constant pings from OOS investors like myself. Commercial brokers are far from being desperate for your business. You still need to be putting your best foot forward, and soliciting referrals and generally have your act together when you're working with them. There is a lot of C inventory, but B inventory trades at a premium and moves very fast.

It's also not easy to differentiate between the C neighborhoods and the B neighborhoods just by driving around. You'll want to have some local knowledge on the ground if you're investing.

Hope that helps!

James

James Kojo · Answer

yup! I’ll defin be checking out Westerville. I’m actually closing on a property not too far from there.

I’m actually working with a couple of companies who frequent this forum so I’ll  update you if they don’t beat me to it.

Lee Self · Answer

Columbus is an AMAZING city and I love living here. The nicest neighborhoods to live in close to downtown are definitely: Short North (consisting of Victorian Village, Italian Village, and Harrison West), German Village, Bexley, and Grandview. Heading more out into the suburbs, the nicest neighborhoods are Dublin, Worthington, Clintonville, and New Albany. However, if you want my advice, look at up and coming neighborhoods like Olde Towne East and Marion Village. Olde Towne East is especially amazing because it was the old rich neighborhood around 1880-1900 but was largely abandoned during the urban flight. The result is a transitional neighborhood full of stunning homes waiting for a rehab.

You'll find a lot of quality bars downtown and most especially in the Short North. I highly recommend Denmark or Mouton if you want a higher end, more professional crowd. Local Bar is good if you want that dive bar experience.

Jeremy Hua · Answer

Westerville is a great city, but extremely high property taxes. Our schools used to be A rated, but some geniuses decided to bus in kids from low income areas, so it has declined a bit.

There's only three pockets of Westerville that I'd call a C+ area, and they're all South of Schrock Rd.

Sarah Wheeler · Answer

@James Kojo we are very glad to hear about your positive experience with Columbus so far! We are happy to have you here and look forward to working together in the future.

Please let me know if there is anything you need going forward.

Best of luck!

Jesse Cabot · Answer

@James Kojo I'm glad to hear you loved Columbus and sorry we missed you! There is definitely a lot to like about it. But, congrats on your upcoming deals and good luck moving forward! We still have your criteria, so we'll keep an eye out for any deals you may be interested.

Jessey Kwong · Answer

@James Kojo would love to hear your experience out there. Can I ask what the property is (SFH or MFH?) and price range? Rehab needed?

Sounds exciting really gotta keep me posted on your find!

Jessey Kwong · Answer

I've been eyeing the Columbus area as well and thinking of heading out there sometime. I have a virtual staff member of mine who I've been working with for many years who recently moved out to Westerville  (approx 20 mins from Columbus) and she absolutely loves her area.Wish I could offer more info, but please share with us what your thoughts are about Columbus.(PS - sorry for my lack of lingo knowledge, but what do you mean you'll be avoiding the student dives? not sure if thats in regards to the bars/restaurants or RE :P )

Going out to Columbus. Recommendations?

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