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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  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    5y

    There are plenty of great deals in Columbus. A lot of people just browse the MLS and complain there are no deals. Connect with the high performers sourcing off market deals and you'll do very well there.

    2Reply
  • Matthew Dawson
    Member since 2021 · 17 posts · 4 votes
    5y

    @James De Leon Hey brother thanks for your service! I am active Navy for 22 years. Just got on this site two days ago. I have read two books on real estate investing and that is the extent of my knowledge, but I am 99% sure I am going to pull the trigger. Would love to chat it up if you were willing to? I am looking to invest out of state. Take care.

    Matt

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

    @Anthony Michael, thank you. I'll certainly keep you in mind.

    @Account Closed, that's what I'm hoping for. If you happen to know of any strong team members in the Columbus, OH area I'd love some recommendations. Thanks for the welcome.

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Nick Shri:

    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!

     Yeah, I like Columbus, Cincinnati, and Cleveland. They are all great for different reasons.

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

    @Remington Lyman, I almost went with Cincinnati to start with due to the fact that I have a lot of family history in Ripley, about and hour SE, but the growth looked a bit sluggish and crime a bit higher than Columbus. I'll keep on eye on Cincinnati though.

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

    @Remington Lyman, I almost went with Cincinnati to start with due to the fact that I have a lot of family history in Ripley, about and hour SE, but the growth looked a bit sluggish and crime a bit higher than Columbus. I'll keep on eye on Cincinnati though.

     Work with someone who has access to both markets.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
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    0Reply
  • Andy Pham
    Rental Property Investor · California, US · Member since 2020 · 67 posts · 82 votes
    5y
    Originally posted by @Brandon Leffler:

    @Andy Pham

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

    I researched tons of cities but it all depends on your goals. I'm sure there are many people who would never invest in Columbus for various reasons. For me, my reasons included population, jobs, affordability, familiarity, and having a team in place. I recommend that if you already know someone with boots on the ground that's willing to help you, that should be a place you should consider. There are a myriad of locations to choose from. Pick wherever works for you, not for others.

    1Reply
  • Jay Yoo
    Investor · Seattle, WA · Member since 2019 · 139 posts · 54 votes
    5y

    @Sean McCarty I was exactly in the same market as you are now. I'm happy to share my experience with Cbus in the current market cycle. Feel free to DM me I will tell you from both aspects of an out of state investor, and now a multifamily investor.

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

    Of course @Matthew Dawson! Thank you for your service as well! Looking forward to connecting.

    1Reply
  • Drew Leo
    Investor · Walnut, CA · Member since 2017 · 72 posts · 37 votes
    5y

    @David Panzera you said Buyers Market. Typo right?

    2Reply
  • Drew Leo
    Investor · Walnut, CA · Member since 2017 · 72 posts · 37 votes
    5y

    @Sean McCarty you’re picking a top city in a top state for investors listed for 10 years. Check all the previous “top cities to invest from 2014-2020” and your 10 years behind. Unless you got $400k cash then Columbus is too pricey. Cincinnati (which is great around the university and stadium) should be on your list because it more affordable than popular Columbus. Be warned about all the talk about deals. Deals are never free. This is a seller market = not an investors market. Suggest you keep looking at smaller towns with less competition.

    2Reply
  • David Panzera
    Real Estate Broker · Columbus, OH · Member since 2015 · 205 posts · 62 votes
    5y

    Hey Drew, yes unfortunately, it is a Sellers market!!

    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    5y

    @Sean McCarty  We have been providing rental properties along with PM for out of state investors in the Cleveland markets for years, we have expanded to Columbus and Akron, Great markets .

    Good Luck 

    1Reply
  • Justin Gottuso
    Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
    5y

    @Sean McCarty hey Sean! Welcome to the Columbus market! It's a great city! I was born and raised in Los Angeles and moved to Columbus a year ago for better quality of life and lower cost of living so we can invest more and be closer to my wife's family. Took the cash we netted from our house in LA we bought in 2016 and invested in great cash flowing small multi family properties in Dayton (Thanks @Remington Lyman). I've still got my eye on Columbus for flips and BRRRRR opportunities and will invest here one day, but for now focusing on better cash flowing areas in smaller markets within 1-2 hours of Columbus. Getting connected to locals who can help you acquire and manage is key of course!

    1Reply
  • Steve Haag
    Real Estate Investor · Ridgway, CO · Member since 2016 · 29 posts · 18 votes
    5y

    @Sean McCarty native Buckeye here but I've been in Colorado now for almost 20 years. I've considered entering into the Columbus market as all my family is still there but it's been super hot for the last few years. Curious why you chose Columbus over some other less competitive markets?

    2Reply
  • Sean McCarty
    OP
    Member since 2021 · 11 posts · 22 votes
    5y

    @Justin Gottuso, I lived in Santa Monica for a few years myself. I'm looking forward to making some connections in a few weeks as I digest the current market, strategies, and learn about small multifamily in general. 

    @Steve Haag, I chose Columbus because it seems to have stable growth and lower crime relative to other big markets. I also figured that it might be easier to put together a strong team in Columbus vs smaller markets simply because of the amount of possible connections, but I could be wrong of course. Once I get the hang of how RE investing works I might set my sights at smaller markets. Right now I'm just staying focused.

    2Reply
  • Rick PrudhommePro Member
    Investor · Blacklick, OH · Member since 2017 · 18 posts · 23 votes
    5y

    Sean I live in the Columbus market, however I am no longer investing here as the numbers just don't work for me anymore. It is a great town and you can get good appreciation but cash flow is tough. I have been investing in the Cleveland Metro area for the last 3 years.

    2Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Steve Haag:

    @Sean McCarty native Buckeye here but I've been in Colorado now for almost 20 years. I've considered entering into the Columbus market as all my family is still there but it's been super hot for the last few years. Curious why you chose Columbus over some other less competitive markets?

     I chose Columbus because I live here. It also has great appreciation. I am looking at Cleveland and Cincinnati, though! I want to add some more cash flow to my portfolio.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    0Reply
  • Austin Steed
    Real Estate Agent · Columbus, OH · Member since 2016 · 593 posts · 664 votes
    5y

    @Remington Lyman What are your thoughts on Dayton?

    1Reply
  • Austin Steed
    Real Estate Agent · Columbus, OH · Member since 2016 · 593 posts · 664 votes
    5y

    @Sean McCarty Welcome! You'll find Columbus is seeing some crazy demand right now. But as long as you can get your foot in the door it's great to be an investor here and see some cashflows and appreciation. 

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

    @Remington Lyman What are your thoughts on Dayton?

     Similar cash flow to Cleveland.

    [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
  • Eduardo Leal
    Member since 2021 · 19 posts · 1 vote
    5y

    @Sean McCarty Welcome to BiggerPockets! Here you’ll find investors like myself keen to developing exceptional strategies to get the ball rolling. I am glad you’re here, to learn alongside these awesome people using context from your market and data analysis. Be more than happy to connect as you move forward in this journey of real estate investing!

    0Reply
  • Axel Enriquez
    New to Real Estate · Hamilton, AL · Member since 2020 · 9 posts · 3 votes
    5y

    Hello @ Sean McCarty best of look to you my friend I highly recommend The book on rental property investing by Brandon Turner and David Green’s book on long distance real estate investing

    0Reply
  • Marc Kade
    Member since 2021 · 9 posts · 4 votes
    5y

    Hi Sean,

    Sounds like your looking to be a long term rent/hold investor (LRTH)based on looking for cash flow. I dabble in several areas of real estate, but my main focus is LRTH. I know a lot of people struggle in this market finding "deals" and even finding cash flow. I think they're just not capitalized well enough or they're looking for home runs every time. My opinion of LRTH is just finding good property that are in good areas. I'm buying mostly off MLS too. It's been a gold mine for me. Always happy to share my strategies if you want to connect.

    0Reply
  • Harman N.
    Rental Property Investor · San Francisco, CA · Member since 2016 · 126 posts · 74 votes
    5y
    Originally posted by @Steven Goldman:

    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.

    What suburbs are those that haven't over appreciated, in your opinion? 

    0Reply
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