Just getting started as an investor in Columbus!

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Just getting started as an investor in Columbus!

Sean McCarty
Member since 2021 · 11 posts · 22 votes

Hello everyone,

I'm new to the forums, as well as investing. I live in Portland, OR and don't want to get started here as an investor since the numbers simply don't seem to work out for cash flow. I've chosen Columbus as my market for various reasons and excited to start building my team. I've been taking the Zero To Freedom course through Semi-Retired MD to ramp up my knowledge of the industry.

I would love to connect with other investors as I have lots of questions moving forward and will be looking for recommendations. 

Thanks in advance.

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Kevin Douglas
Investor · Bend, OR · Member since 2019 · 61 posts · 68 votes
5y

@Shawny Le - CDA is a great market! I own rentals in the downtown CDA area, have another under contract, and will start to pick up additional deals as I find them. As an investor in three states, I would caution you on investing out of state when you live in a great market, in my opinion. Do you have any connection to the Columbus area? If not I would recommend investing in your own backyard... One thing to consider is what is your, "unfair advantage"? From my limited perspective, it would be connections and expertise in the local Northern Idaho market, especially with all of the development and investment that is happening. Just my two cents. Good luck with your first deal! 

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  • Brad HammondBusiness Member
    Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
    5y

    Hi @Sean McCarty, I don't know much about the Columbus market but I would be happy to talk about investing in a broader sense if you are interested some time.  

    1Reply
  • Andrew FreedBusiness Member
    Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
    5y

    @Sean McCarty Colombus is a great market but super competitive right now, especially for multi's. I put a few offers in, but many of the stock available were in class C and D neighborhoods. Great place to invest but be prepared to put in a lot of offers before you land something unless you want to overpay for it. 

    [email protected]781-964-3200Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money
    2Reply
  • David Panzera
    Real Estate Broker · Columbus, OH · Member since 2015 · 205 posts · 62 votes
    5y

    Welcome Sean. Columbus is a great city to invest in, a bit of a Buyers market, but still a great city. Always happy to chat. Good Luck.

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

    Hello everyone,

    I'm new to the forums, as well as investing. I live in Portland, OR and don't want to get started here as an investor since the numbers simply don't seem to work out for cash flow. I've chosen Columbus as my market for various reasons and excited to start building my team. I've been taking the Zero To Freedom course through Semi-Retired MD to ramp up my knowledge of the industry.

    I would love to connect with other investors as I have lots of questions moving forward and will be looking for recommendations. 

    Thanks in advance.

     Columbus, Ohio is a great market to get started in!

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    3Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @Brad Hammond, thanks for the note. I'll keep you in mind when questions start popping up as I move forward.

    @Andrew Freed, I appreciate the insight. I guess it's a good thing I'm not in a hurry to pick up a deal.

    @David Panzera, Thanks you. I've seen some good reviews of Panzera Realty. I would love to chat sometime later this week if you're available.

    1Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @Remington Lyman, from what little I've seen so far it looks promising, though I hear it's gotten quite competitive. I'm looking forward to getting my feet wet.

    2Reply
  • Andy Pham
    Rental Property Investor · California, US · Member since 2020 · 67 posts · 82 votes
    5y

    Hi @Sean McCarty, I purchased my first property in Columbus a couple of months ago. I live in California so I know what you mean when you say you can't find cashflow. Feel free to connect. I'm always happy to connect with new and experienced investors.

    3Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @Andy Pham, I’m from CA (Bay Area) so I can sympathize with why you’d want to invest out of state. Thanks for commenting. I’d like to keep in touch and trade war stories as I try to find my way into Columbus.

    1Reply
  • James De Leon
    Real Estate Agent · San Diego, CA · Member since 2020 · 69 posts · 32 votes
    5y

    Hi @Sean McCarty,

    That’s awesome that you’re getting into real estate! I’m also from the Bay Area but living in San Diego. I don’t really know too much about Columbus, but I do plan on investing out of state. I own a couple properties here in SD, but currently looking at the Houston market. If you have any questions or want to connect some time, I’m all up for it. Good luck! 

    0Reply
  • Jason DeVelvis
    Investor · Columbus, OH · Member since 2020 · 28 posts · 20 votes
    5y

    I'm game for connecting as well - I've lived in Columbus for 20 years now, and there are still deals to be had! It all depends on what you're looking for, though. There's definitely competition for cosmetic rehabs, slightly less than pristine turnkey rentals, etc on the MLS and/or reputable wholesalers. If that's your target, you'll have to pay more per $ of rent than in other areas. I've seen properties go for WELL over my criteria. In my opinion, if you're more concerned about equity growth and less about cash flow this could be a fantastic area, even for on market properties. If you're looking for maximizing your cash on cash return from rent, it might not be. Or maybe you can find the diamonds in the rough that check both boxes... If you do, throw a few my way :D

    Welcome to the mix!

    (Edit: Obligatory disclaimer - I am not a financial advisor. This is just my opinion, I have no actual idea what the future holds for home prices or rent in this market, my crystal ball is in the shop)

    2Reply
  • Ryan Mainwaring
    Rental Property Investor · Blacklick, OH · Member since 2016 · 286 posts · 253 votes
    5y

    @Sean McCarty Congrats on starting your journey.  What are your goals and what strategy are you thinking about?

    I live and invest in Columbus.  You can find deals in this hot market if you analyze and make offers on deals every week.  

    1Reply
  • Shawny Le
    Hayden, ID · Member since 2017 · 5 posts · 3 votes
    5y

    Hi Sean! I'm in the same boat as you. I live in Coeur d'Alene ID and have also narrowed my investment search down to Columbus for the same reasons as you, it's too expensive here and the numbers no longer work! I have been spending a lot of time researching the area and am getting closer to making my first offer. I am unfamiliar with the Zero to Freedom course and will be checking it out now! I'm an agent here in CDA, so I know a lot of the basics, but have also been furiously reading every REI book I can get my hands on.

    1Reply
  • Brandon GoldsmithBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
    5y

    Welcome to BP! There are a lot of investors that are attracted to the Columbus market and depending on what your goals are it could be a good fit. @Sean McCarty

    [email protected]614-963-3340
    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Shawny Le:

    Hi Sean! I'm in the same boat as you. I live in Coeur d'Alene ID and have also narrowed my investment search down to Columbus for the same reasons as you, it's too expensive here and the numbers no longer work! I have been spending a lot of time researching the area and am getting closer to making my first offer. I am unfamiliar with the Zero to Freedom course and will be checking it out now! I'm an agent here in CDA, so I know a lot of the basics, but have also been furiously reading every REI book I can get my hands on.

     The numbers make a lot of sense if you are factoring in the hyper inflation we are about to hit.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
  • Kevin Douglas
    Investor · Bend, OR · Member since 2019 · 61 posts · 68 votes
    5y

    @Shawny Le - CDA is a great market! I own rentals in the downtown CDA area, have another under contract, and will start to pick up additional deals as I find them. As an investor in three states, I would caution you on investing out of state when you live in a great market, in my opinion. Do you have any connection to the Columbus area? If not I would recommend investing in your own backyard... One thing to consider is what is your, "unfair advantage"? From my limited perspective, it would be connections and expertise in the local Northern Idaho market, especially with all of the development and investment that is happening. Just my two cents. Good luck with your first deal! 

    3Reply
  • Aj Parikh
    Rental Property Investor · Centreville, VA · Member since 2019 · 1k+ posts · 799 votes
    5y

    Welcome to BP Sean! Columbus is one of the best markets to start with. You will find a lot of investors on this platform who you can connect with and possibly buy properties from them as well since they are turnkey providers as well. Good luck networking!!! You will crush it. 

    1Reply
  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    5y
    Originally posted by @Sean McCarty:

    Hello everyone,

    I'm new to the forums, as well as investing. I live in Portland, OR and don't want to get started here as an investor since the numbers simply don't seem to work out for cash flow. I've chosen Columbus as my market for various reasons and excited to start building my team. I've been taking the Zero To Freedom course through Semi-Retired MD to ramp up my knowledge of the industry.

    I would love to connect with other investors as I have lots of questions moving forward and will be looking for recommendations. 

    Thanks in advance.

     That's great Sean. Columbus has a lot of great opportunities. I am an investor here. 

    2Reply
  • Brandon Leffler
    Rental Property Investor · Stockton, CA · Member since 2020 · 35 posts · 22 votes
    5y

    @Andy Pham

    What other cities and states did you research before deciding on Columbus?

    1Reply
  • Steven Goldman
    Lender · PA · Member since 2019 · 533 posts · 461 votes
    5y

    Columbus is a strong market. To find a good deal you will have to find properties through wholesalers or off market websites. The competition in Columbus is stiff. Many of the surrounding suburbs are still not over appreciated and may be a rewarding place to look. We have made numerous hard money loans in Columbus and Ohio. If you find a property feel free to send us the scenario and we will lend our view point to your decision. Good luck! I love real estate a great place to invest your time and money.

    2Reply
  • Steven Goldman
    Lender · PA · Member since 2019 · 533 posts · 461 votes
    5y

    Here is an article about the suburban Columbus real estate market. I would stay with bigger suburban areas as small towns can be harder to finance. 

    https://www.newhomesource.com/...

    1Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @James De Leon, thanks for the message. I hope to connect at some point.

    @Jason DeVelvis, I appreciate the insight! It sounds like a pretty tight market. I am focused mostly on exactly what you were describing with a goal of attaining good cash flow. Hoping to find those diamonds in the rough!

    @Ryan Mainwaring, I'm hoping to find small multi-family properties that cash flow. I'm getting the drift that it could get frustrating. I intend to find properties that might have some hidden value, not quite turn key. Fingers crossed!

    1Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @Shawny Le, I love Coeur d'Alene, it's gorgeous. I have a lot of family history in ID. I'm hoping Columbus works out. The Zero to Freedom course has been great for me. It mostly focuses on physician investors who are new to the game, like me.

    @Brandon Goldsmith, thanks for the welcome. I'm hoping to find what seems to be the rare small multi-family that cash flows. I'm ready to look and wait.

    @Remington Lyman, I've been hearing a bit about this coming inflation. In fact a recent podcast was talking about it. 

    1Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @Aj Parikh, I appreciate the enthusiastic welcome, thank you!

    @Steven Goldman, I'm starting to sense that investing in Columbus won't be a walk in the park, but I'm excited to roll up my sleeves and learn the ins and outs. I greatly appreciate the invitation to post a scenario to get a more experienced viewpoint. And thanks for the link to the article. 

    1Reply
  • Anthony Michael
    Lender · Member since 2019 · 47 posts · 97 votes
    5y

    Sean if you're ever in search of funding sources for your projects please keep us in mind. Also we lend a lot to good properties in that area with phenomenal add value potential. I have a very good buddy that's in those markets and surrounding areas that's crushing multi family and commercial units.  

    0Reply
  • Nick Shri
    Rental Property Investor · VA · Member since 2020 · 218 posts · 133 votes
    5y

    Welcome @Sean McCarty to BP!

    There are many markets US wide that are HOT. Columbus being one. OH in general is looking overall good IMO. If you are looking for the diamond in the rough, you will need strong team, and I mean STRONG trustworthy team. All the best to you in your journey towards financial freedom!

    1Reply
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