What are some good buy/hold rental areas in Ohio?

31 Replies

@Trecia Benjamin You should look at the Columbus market. It is the only major Ohio city that has a positive population and job growth. If you plan on buying and holding the property, then it is the place to buy. If you want more short/medium-term cash flow, then look at Cleveland and Cincinnati.

I am a Realtor, property manager, and investor in Columbus, OH. I encourage you to check out my BP profile to learn more about my background. Please let me know if you have any questions or if I can help you with anything.

Originally posted by @Remington Lyman :

@Trecia Benjamin You should look at the Columbus market. It is the only major Ohio city that has a positive population and job growth. If you plan on buying and holding the property, then it is the place to buy. If you want more short/medium-term cash flow, then look at Cleveland and Cincinnati.

I am a Realtor, property manager, and investor in Columbus, OH. I encourage you to check out my BP profile to learn more about my background. Please let me know if you have any questions or if I can help you with anything.

 More important than the market itself is where you buy in said market. I don't do business in Columbus or Cincinnati but if you're looking at Cleveland you'll want to check out The Ultimate Guide to Grading Cleveland Neighborhoods for a nice dive into what's what in that market.

Trevor, what is your strategy and goals? Are you looking to invest in your immediate area, or are you looking to invest at a distance.  Where are you located? This would be a good starting point. 

From their determine what kind of risk tolerance and return requirements you have.  Ohio has many markets.  It’s a very broad question to ask where in an entire state without knowing anything about you or what you are looking to accomplish.

Hi @Dan Sarao I'm in Florida and I own a few rental properties now. I'm looking to expand into the Ohio area for additional buy/hold rentals. Honestly, I'm not just looking there but that's where I'd like to start.

@Trecia Benjamin Ohio is THE BEST! Economic growth, relatively affordable, fair landlord laws, plenty of deals still to be had, birthplace of aviation and the womb of American Football 😁 I grew up here and am very familiar with the Columbus area as a fellow investor and real estate professional.

Come on up and have a look around!

@Trecia Benjamin What part of Ohio?  I've invested in TK properties in a few areas of OH and have been very happy with them!  Low taxes, landlord friendly legislation, great cash flow and still getting some appreciation!  Great state to invest in my opinion.  Just need to find the right team to take care of the property.  That is why I chose to go TK.  Happy to provide any recommendations if you would like.  Let me know!

Columbus is hot area. Also certain parts of Dayton and Cleveland are ok. Those are mostly rental areas and can get in low. As always do your homework, visit, tour the area, and speak to a lot of the locals. 

@Trecia Benjamin I am originally from the Columbus area and lived in many parts of the city over time. I own rentals in OH but not in Columbus at the moment, but I want to. For rentals, I am interested in buying in Grove City, due to its close proximity to downtown jobs, easy access to 270 the outerbelt, lower (but not low) cost of housing, newish housing stock, good schools (my kids went there for a time), and other factors. I rented there once, my family owned many homes there. There are lower income areas of Columbus that will cash flow better, and there are pricey suburbs like Dublin, Hilliard with excellent schools that probably won't cash flow IMO. Some investors like the short North or Arena district or Gahana, Reynoldsburg. If you are buying from afar and don't know the area, you'll really want to talk to someone who is a lifelong resident. Each area has its nuances and is on its way up (or down). In addition, an (honest) investor-friendly realtor would be good for research and help, and I suggest you talk to PM's and other BP'ers who own property there too. Here's an article from a couple of years ago. Good luck. https://www.bizjournals.com/co...

Originally posted by @Trecia Benjamin :

Hello,

I'm looking to invest in buy/hold rentals in the Ohio area but I'd like some insight as to the best areas to purchase. Anyone familiar with this area?

The suburbs of Cleveland are very popular for long-term rentals. Demand seems to be very steady and the prices are rising. 

What kind of area are you looking for and what city are sticking near?

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