Any successful BRRR in OHio?

Any successful BRRR in OHio?

Investor 路 Austin, TX 路 Member since 2022 路 68 posts 路 52 votes

Hello BP Community,

I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.

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Most Popular Reply

Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
2y

UMM YESS, for the last 10 years. Now sure the high cash flow of 30% nets have decreased as pricing has doubled, tripled (all in 35- 40k, now, 100k-140k) and much more so your assumption is incorrect. (Cleveland markets) but sill great ROI. I just closed on a 3 br all in will be 65k ( pp 40k reno 25k) YES all in, Rent will be 1600. value is about 125k. Closing today on a duplex, all in 90k, rents 900/900, value about 130k This is my norm. I can provide 100s of examples.

BTW look how incorrect you were, see this is what happens when people sit on the internet and THINK they are " learning" 

44109 (median home price went from roughly 50k to 125k in 8 years)

https://www.zillow.com/home-values/77009/cleveland-oh-44109/

44102 (median home price went from roughly 30k to 120k in 8 years)

https://www.zillow.com/home-values/77002/cleveland-oh-44102/

44106 (median home price went from roughly 100k to 200k in 8 years)

https://www.zillow.com/home-values/77006/cleveland-oh-44106/

All the best

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  • Lender 路 Chicago, IL 路 Member since 2021 路 424 posts 路 145 votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


     I'm happy to make the connection with one of our borrower's. They borrow and wholesale deals in ohio. Shoot me a text and I'll make the connection.

  • Kerlous TadresBusiness Member
    Realtor 路 Columbus, OH 路 Member since 2023 路 1k+ posts 路 1k+ votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


    Hey Akshay,

    I invest here in the Columbus market and there are some really affordable deals here. I can say that Columbus is more of an appreciation market than the other markets. Let me know if you have any questions for me

    Kerlous Tadres | Reafco Real Estate540 Reviews
  • Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    2y

    UMM YESS, for the last 10 years. Now sure the high cash flow of 30% nets have decreased as pricing has doubled, tripled (all in 35- 40k, now, 100k-140k) and much more so your assumption is incorrect. (Cleveland markets) but sill great ROI. I just closed on a 3 br all in will be 65k ( pp 40k reno 25k) YES all in, Rent will be 1600. value is about 125k. Closing today on a duplex, all in 90k, rents 900/900, value about 130k This is my norm. I can provide 100s of examples.

    BTW look how incorrect you were, see this is what happens when people sit on the internet and THINK they are " learning" 

    44109 (median home price went from roughly 50k to 125k in 8 years)

    https://www.zillow.com/home-values/77009/cleveland-oh-44109/

    44102 (median home price went from roughly 30k to 120k in 8 years)

    https://www.zillow.com/home-values/77002/cleveland-oh-44102/

    44106 (median home price went from roughly 100k to 200k in 8 years)

    https://www.zillow.com/home-values/77006/cleveland-oh-44106/

    All the best

  • Remington LymanBusiness Member
    Real Estate Agent 路 Columbus, OH 路 Member since 2017 路 6k+ posts 路 7k+ votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


     A lot of Ohio has appreciated a lot. Columbus, Ohio, and the rest of Central Ohio, has seen a lot of appreciation due to the jobs and population coming to the area

  • Joshua JanusBusiness Member
    Realtor 路 Cleveland, OH 路 Member since 2021 路 1k+ posts 路 1k+ votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


    Hey you can look into Cleveland, OH. I renovate 50+ houses/year through the BRRRR / Flip methods and also help dozens of agents do the same. Just make sure you have a great contracting crew in place before you take on any value add type investing.

  • Samuel DioufBusiness Member
    Real Estate Agent 路 Columbus & Cleveland, OH 路 Member since 2023 路 1k+ posts 路 1k+ votes
    2y

    Hey Akshay,

    I'd say OH has both appreciation and cashflow, markets. A lot of cities in Ohio are appreciating, but some are growing faster than others.

    Columbus, Ohio is a great market to consider if you're leaning towards appreciation. Multiple, billion dollar companies are investing heavy in our area, such as Intel, Google, and Amazon. Which will bring plenty of other investors and general business to the area. I moved here from Florida after seeing the projected growth.

  • Jimmy LieuBusiness Member
    Real Estate Agent 路 Columbus, OH 路 Member since 2019 路 3k+ posts 路 2k+ votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.

    Hi Akshay, Columbus Ohio is a great real estate market for finding BRRRR opportunities. One of my clients recently purchased a 4/2 single family house that was positive cash flowing, hit the 1% rule, and was able to execute a full cash out refinance so it was a clean BRRRR! It's definitely still possible to find great BRRRR opportunities! Anything that you buy in Columbus Ohio will appreciate like crazy due to how much population growth, job growth, and companies are moving/developing here (for example Intel, Honda, Amazon, FB, Google, Nationwide, etc) - the macroeconomics look amazing here. Happy to connect and answer any questions you may have.

  • Rental Property Investor 路 Brooke Park Drive 路 Member since 2018 路 1k+ posts 路 2k+ votes
    2y

    You鈥檙e late to the party, but its still possible, you will just be getting the deals all of the establish investors have passed over. 

  • Real Estate Broker 路 Cleveland, OH 路 Member since 2018 路 227 posts 路 133 votes
    2y
    They're definitely still out there, they're just a bit harder to find but it's just really about having a good contractor that can get you accurate quotes for how much the rehab will be and an experience realtor / broker who can give you accurate ARVS for what the property will be worth once the work is finished and helping you find these deals as soon as they hit the market, or has a good source for off the market properties that might be viable.
  • Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    2y
    Quote from @Account Closed:

    You鈥檙e late to the party, but its still possible, you will just be getting the deals all of the establish investors have passed over. 

     Not true, I get deals weekly, off market. I just closed on a 3 br in Lee Harvard, nobody even knew about it. Closing tomorrow on a duplex e 128th, nobody knows about. Its ALL about your network. 

  • Rental Property Investor 路 Brooke Park Drive 路 Member since 2018 路 1k+ posts 路 2k+ votes
    2y
    Quote from @Bob S.:
    Quote from @Account Closed:

    You鈥檙e late to the party, but its still possible, you will just be getting the deals all of the establish investors have passed over. 

     Not true, I get deals weekly, off market. I just closed on a 3 br in Lee Harvard, nobody even knew about it. Closing tomorrow on a duplex e 128th, nobody knows about. Its ALL about your network. 


     You are the established investor I mentioned 馃槝

  • Realtor 路 Cleveland Heights 路 Member since 2024 路 12 posts 路 3 votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


     Hi Akshay,

    I'm a property manager and agent in Cleveland as well as from the area and it depends on the type of investor you are. Great areas for cash flow and full to little rehab are suburbs like Cleveland Heights, Euclid and Shaker Hts. Euclid has a brand new school and Shaker is decent. Another great option would be Lakewood and they have a great school system. If you're looking for more long term and want a trendy neighborhood, look at Tremont and Gordon Square area. Strongsville is a more high end suburb so although you are able to invest there, its not generally done

  • Min ZhangBusiness Member
    Real Estate Agent 路 Member since 2022 路 1k+ posts 路 1k+ votes
    2y

    1. If you鈥檙e looking for cash flow, check out the west side of Cleveland and Akron. For appreciation, Columbus is your best bet. Also, take a look at multifamilies in Dayton鈥攖hey're great for cash flow too.

    2. I鈥檇 go with Columbus if you want appreciation. Homes here don鈥檛 usually hit the 1% rule, unless you鈥檙e in a C-class neighborhood. But with Intel's $20 billion plant, Google's three data centers, and land buys by Amazon and Meta, Columbus is worth it!

    3. For the Cleveland market, try finding properties near the Cleveland Clinic鈥攊t's ranked as the top clinic in the U.S. and can be a solid investment spot.

    If there's anything I can do, please let me know!


  • Ko KashiwagiPro Member
    Lender 路 Los Angeles, CA 路 Member since 2022 路 967 posts 路 445 votes
    2y

    Hi Akshay,

    Cleveland, Cincinnati, Columbus are cities I often come across my investor clients. The truth is, if you can execute, BRRRR can work in all of those cities so it's a matter of preference - whether you prioritize cash flow or appreciation, price range, if you know anyone, school zones, etc. If you want an in-depth view I would:

    - Research government statistics (population growth, median prices, appreciation, etc)

    - Qualitative research

    - Go to meetups, talk to investors (you won't find it hard to find someone investing out of state in OH)

    - Use softwares like rentometer, Vestmap, etc

  • Sam McCormackBusiness Member
    Real Estate Agent 路 Cincinnati, OH/NKY 路 Member since 2021 路 1k+ posts 路 833 votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


    BRRRR is possible in Greater Cincinnati, but just like everywhere else, at least properties on market, don't expect to pull all your money out. If you need to pull all of it out to make it work, it is your preference of course, but expect to do more digging than the public MLS, even wholesalers

    Sam McCormack Realtor
    View Page
  • Robert EllisBusiness Member
    Developer 路 Miami, FL 路 Member since 2014 路 3k+ posts 路 1k+ votes
    2y
    Quote from @Ko Kashiwagi:

    Hi Akshay,

    Cleveland, Cincinnati, Columbus are cities I often come across my investor clients. The truth is, if you can execute, BRRRR can work in all of those cities so it's a matter of preference - whether you prioritize cash flow or appreciation, price range, if you know anyone, school zones, etc. If you want an in-depth view I would:

    - Research government statistics (population growth, median prices, appreciation, etc)

    - Qualitative research

    - Go to meetups, talk to investors (you won't find it hard to find someone investing out of state in OH)

    - Use softwares like rentometer, Vestmap, etc


     that's what I always say. Who is building, developing, flipping, etc in your area. someone has to be doing it and making money. look at their business plan, see how they are doing, try to do better. 

  • Property Manager 路 Cincinnati, OH 路 Member since 2024 路 64 posts 路 69 votes
    2y

    I work for a property management company here in Cincinnati. Still lots of folks looking to buy and sell here. Are you planning to visit Ohio to look around at areas you think you might be interested any time soon?

  • Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    2y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


     So where did you buy and hows it going ?

  • Keyano BurgessBusiness Member
    Cleveland, OH 路 Member since 2024 路 32 posts 路 23 votes
    1y

    Hi Akshay,

    As a real estate agent and investor here in the Cleveland market I can confidently say that there are plenty of BRRR opportunities in Cleveland. You are correct to assume Cleveland by and large is a cash flow market, but like any cities this is going to vary from neighborhood to neighborhood. We have very strong appreciation areas in the Cleveland market such as Lakewood which appreciates 7% a year on average. And yes the Cleveland Clinic has a strong presence here and presents many opportunities for employment and thus rentals. Send me a DM if you would like to hear more, I am more than happy to get on a call with you and answer any questions you might have.

  • Realtor 路 Cleveland, OH 路 Member since 2023 路 340 posts 路 215 votes
    1y

    Hi, yes Ohio is to place to be when it comes to investing in real estate. Please feel free to reach out with concerns/ questions. Best Wishes!

  • New to Real Estate 路 Member since 2022 路 147 posts 路 112 votes
    1y
    Quote from @Bob S.:

    UMM YESS, for the last 10 years. Now sure the high cash flow of 30% nets have decreased as pricing has doubled, tripled (all in 35- 40k, now, 100k-140k) and much more so your assumption is incorrect. (Cleveland markets) but sill great ROI. I just closed on a 3 br all in will be 65k ( pp 40k reno 25k) YES all in, Rent will be 1600. value is about 125k. Closing today on a duplex, all in 90k, rents 900/900, value about 130k This is my norm. I can provide 100s of examples.

    BTW look how incorrect you were, see this is what happens when people sit on the internet and THINK they are " learning" 

    44109 (median home price went from roughly 50k to 125k in 8 years)

    https://www.zillow.com/home-values/77009/cleveland-oh-44109/

    44102 (median home price went from roughly 30k to 120k in 8 years)

    https://www.zillow.com/home-values/77002/cleveland-oh-44102/

    44106 (median home price went from roughly 100k to 200k in 8 years)

    https://www.zillow.com/home-values/77006/cleveland-oh-44106/

    All the best


    Thats great but how has the income changed over the past 8 year? Not too much. Cleveland is still one of the poorest cities in America with a median income of around $37K per household! How are they supposed to pay $1600/mo in rent? You don't need to be a genius to see how that is an issue. It sounds like you've made it work well in Cleveland, but for rookies I think its better to go elsewhere. 

  • Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    1y
    Quote from @Luka Jozic:
    Quote from @Bob S.:

    UMM YESS, for the last 10 years. Now sure the high cash flow of 30% nets have decreased as pricing has doubled, tripled (all in 35- 40k, now, 100k-140k) and much more so your assumption is incorrect. (Cleveland markets) but sill great ROI. I just closed on a 3 br all in will be 65k ( pp 40k reno 25k) YES all in, Rent will be 1600. value is about 125k. Closing today on a duplex, all in 90k, rents 900/900, value about 130k This is my norm. I can provide 100s of examples.

    BTW look how incorrect you were, see this is what happens when people sit on the internet and THINK they are " learning" 

    44109 (median home price went from roughly 50k to 125k in 8 years)

    https://www.zillow.com/home-values/77009/cleveland-oh-44109/

    44102 (median home price went from roughly 30k to 120k in 8 years)

    https://www.zillow.com/home-values/77002/cleveland-oh-44102/

    44106 (median home price went from roughly 100k to 200k in 8 years)

    https://www.zillow.com/home-values/77006/cleveland-oh-44106/

    All the best


    Thats great but how has the income changed over the past 8 year? Not too much. Cleveland is still one of the poorest cities in America with a median income of around $37K per household! How are they supposed to pay $1600/mo in rent? You don't need to be a genius to see how that is an issue. It sounds like you've made it work well in Cleveland, but for rookies I think its better to go elsewhere. 


     Rookies simply put in SEC 8 or Eden. I just seen an OOS investor get 1700 for 2 ,4 BR'S on Glendale, all in 105k each, 850 for a 2 br on Dove all in 65k, not so bad.

  • Real Estate Broker 路 Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH 路 Member since 2013 路 30k+ posts 路 20k+ votes
    1y
    Quote from @Akshay Bhaskaran:

    Hello BP Community,

    I'd like to connect with you to get your knowledge and experience on any of your BRRRs in Ohio. It can be anywhere in OH -- Cleveland, Columbus, Akron, or anywhere, and here's what I'm specifically looking for:

    1. What are some of the cities in OH that you would recommend to invest? Cleveland, Akron, Columbus is all I know.
    2. I've always had an assumption that OH is a Ca$h Flow market and not an Appreciation market. I mean, once we get off-market property and do some rehab, we can force appreciate it, but what about the later natural appreciation?
    3. When you invest in OH, I've heard some good schools, and some decent employers like Progressive, Cleveland Clinic etc. -- but, which one would you choose and why? Coz Strongsville has good schools, but less employers. 

    Looking forward to getting some great guidance from you all on getting my BRRR started in Ohio.


    You BRRRR where you can buy a property for less than it's worth. It's not really about the area, it's about the spread on that deal.

  • Cameron GreenPro Member
    Real Estate Agent 路 Cleveland, OH 路 Member since 2023 路 73 posts 路 46 votes
    1y

    Hi there!

    For your BRRR in Ohio, it depends on how big or small you want to go. If you're looking at Cleveland, the west side is often a great choice since you can achieve both appreciation and cash flow in neighborhoods like South Hills and Edgewater. Nearby suburbs like Lakewood, Rocky River, and Fairview Park also offer solid investment potential with generally good stability and demand.

    For employers, Cleveland Clinic is a strong presence but hasn鈥檛 significantly gentrified the surrounding area. However, University Circle could be promising for appreciation if you're looking to hold long-term. Progressive is based in Mayfield Village, but since they鈥檝e moved largely remote after COVID, I wouldn鈥檛 focus there for rental investments.

    If you'd like to discuss your investment goals in more detail, I'd be glad to help narrow down the best areas for your BRRR strategy. Hope this helps, and reach out if you need more info!

  • Crystal JontonyBusiness Member
    Realtor 路 Cleveland Ohio 路 Member since 2024 路 13 posts 路 4 votes
    1y

    We have excellent locations to BURR  just outside of the city with lower buy in prices. Once you get to the suburbs like Strongsville, as you have mentioned, they are excellent areas, but the purchase price will be much higher. I work with a lot of out-of-state investors who focus on 44102 and 44109. I also wouldn鈥檛 be worried about the employers and specific locations as long as tenant can verify income.

    Crystal Jontony Real Estate 515 Reviews
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