How realistic is it to BRRRR in Columbus, OH
It would be great to hear from people with experience in the Columbus, OH market what it looks like to successfully BRRRR a rental property there.
How realistic do you think it is to find deals with the following criteria on the MLS?
- In decent neighborhood (C- to B-)
- All-in costs are 75% of ARV
- Cash-flow after a refinance where you pull out 75% of the ARV
I've been analyzing MLS deals and have found that the numbers work well in a few areas when the purchase price is around $85-100K but since I don't know the city I'm not sure if I'm analyzing in total war zone neighborhoods or not!
Is it realistic to find properties on the MLS in decent/up-and-coming neighborhoods that match the above criteria? If not, what other methods do you use to find deals?