Cleveland and/or Columbus area

Cleveland, Ohio
Out of State Investing
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Cleveland and/or Columbus area

Elisha Johnston
New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes

Hi everyone! 

Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.

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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
1y
Quote from @Elisha Johnston:

Hi everyone! 

Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.


These markets are particularly appealing for novice investors, especially those from California, as they offer more affordable options compared to local alternatives. In Cleveland, it is possible to find single-family homes priced under $100,000. In Columbus, most rental-grade single-family homes are priced between $100,000 and $200,000.

[email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Anthony L Amos Jr
    Real Estate Agent · Columbus | Toledo · Member since 2019 · 607 posts · 768 votes
    1y
    Quote from @Elisha Johnston:

    Hi everyone! 

    Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.


     Hello Elisha! Glad you're getting started. 

    Both markets are great to invest in! Cleveland has been good for cashflow investors, while Columbus offers cashflow and appreciation. With the budget mentioned, you can find single family rentals in Columbus and duplexes in Cleveland under 200k. If you're trying to replace your work income I would recommend starting in a strong cash flow market like Cleveland, but if you're ok working for a while then you can buy and watch your property appreciate in Columbus. 

    3Reply
  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y

    Ok wow, thank you so much! Really appreciate this advice. Could I reach out if I have any questions in the future? Definitely would consider both, but the cash flow does sound quite tempting :) 

    2Reply
  • Gladimir Lobo
    Real Estate Broker · Cleveland, OH · Member since 2023 · 213 posts · 81 votes
    1y

    Hey, $100k+ is a good starting point for SFH in the CLE market.

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    1y
    Quote from @Elisha Johnston:

    Hi everyone! 

    Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.


    These markets are particularly appealing for novice investors, especially those from California, as they offer more affordable options compared to local alternatives. In Cleveland, it is possible to find single-family homes priced under $100,000. In Columbus, most rental-grade single-family homes are priced between $100,000 and $200,000.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    1y

    Under $200k in Columbus, you’ll probably find single-family homes in C-class neighborhoods. In Cleveland, you can find homes under $100k, but they might need some work. Best of luck on your journey Elisha. Happy to connect if you have any questions!

    [email protected]614-412-2912
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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    1y
    Quote from @Elisha Johnston:

    Hi everyone! 

    Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.


     If you're looking at Cleveland, I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods to get yourself an understanding on the market.

    2Reply
  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y

    Thank you all! Will definitely be looking more seriously at the Cleveland market in that case. Potentially Columbus as well when I start building some more capital.

    1Reply
  • Nick BelskyBusiness Member
    Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
    1y

    @Elisha Johnston

    Check out the BP Top 100 Cash Flowing Markets spreadsheet under the "Pick Markets" header on the top of the site.  Great comparative info on some of the better markets around the country right now.

    Cheers!

    [email protected]
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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Elisha Johnston

    i'd house hack where you live first.

    and if you're serious about investing in Ohio, make trips to Ohio.

    do not buy a random property solely because of its low purchase price. that will set you back.

    good luck.

    1Reply
  • Hector Espinosa
    New to Real Estate · San Diego, CA · Member since 2022 · 29 posts · 20 votes
    1y
    Quote from @Nicholas L.:

    @Elisha Johnston

    i'd house hack where you live first.

    and if you're serious about investing in Ohio, make trips to Ohio.

    do not buy a random property solely because of its low purchase price. that will set you back.

    good luck.

     @Nicholas L. what would be your recommendation if the market where you live is way to expensive or at least not in your initial budget and your best option is out of state investment?

    0Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Hector Espinosa

    it's fine to invest out of state, you just have to do more than look at properties on Zillow.  you need a team, and the best way to set up a team and look at properties is in person.

    1Reply
  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y

    I would love to house hack but unfortunately live in Los Angeles, so house hacking is a bit out of reach for me at the moment. 
    As for building a team, that’s what I’m trying to do most at the moment, since I will definitely need people I trust in finding properties. My parents live in a small town in Ohio so I might start there, but at the moment I’m just trying to build connections to find good markets, and from there deals ideally. Would love to house hack though! I might consider it next year if I move out of LA. 

    0Reply
  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y
    Quote from @Nick Belsky:

    @Elisha Johnston

    Check out the BP Top 100 Cash Flowing Markets spreadsheet under the "Pick Markets" header on the top of the site.  Great comparative info on some of the better markets around the country right now.

    Cheers!


     Ok thank you I’ll take a look at that! Appreciate the actionable next step. 

    0Reply
  • Golan Corshidi
    Rental Property Investor · Cleveland, OH · Member since 2018 · 95 posts · 61 votes
    1y

    hey Elisha, I live in San Francisco and just bought a triplex and Cleveland for 140k that's cash flowing well. I think there are some good deals out there. Consider doing section-8 if you end up buying in some of the rougher areas. 

    0Reply
  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y
    Quote from @Golan Corshidi:

    hey Elisha, I live in San Francisco and just bought a triplex and Cleveland for 140k that's cash flowing well. I think there are some good deals out there. Consider doing section-8 if you end up buying in some of the rougher areas. 

    That’s actually very similar to what Im trying to do, I’ve heard a number of good things with section 8. Could I follow up via inbox? Definitely curious about your approach to this 
    0Reply
  • Golan Corshidi
    Rental Property Investor · Cleveland, OH · Member since 2018 · 95 posts · 61 votes
    1y
    Quote from @Elisha Johnston:
    Quote from @Golan Corshidi:

    hey Elisha, I live in San Francisco and just bought a triplex and Cleveland for 140k that's cash flowing well. I think there are some good deals out there. Consider doing section-8 if you end up buying in some of the rougher areas. 

    That’s actually very similar to what Im trying to do, I’ve heard a number of good things with section 8. Could I follow up via inbox? Definitely curious about your approach to this 

     Of course! I’ll look out for your message 

    0Reply
  • Crystal JontonyBusiness Member
    Realtor · Cleveland Ohio · Member since 2024 · 13 posts · 4 votes
    1y

    Cleveland is an excellent market to invest in real estate. The buying is very low, rents are great and there’s no shortage of tenants.  I work with many out of state investors. I’d be happy to answer any questions you have or help you with any thing you need as far as property management, contractors or Boots on the ground.

    216-215-6663
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  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y
    Quote from @Crystal Jontony:

    Cleveland is an excellent market to invest in real estate. The buying is very low, rents are great and there’s no shortage of tenants.  I work with many out of state investors. I’d be happy to answer any questions you have or help you with any thing you need as far as property management, contractors or Boots on the ground.


    Ok thank you! I will reach out when I come back from traveling and start looking at the area. 

    0Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    1y

    Congrats on securing a good job! Both of these markets are great, but they are very different. 

    Columbus is going to be the best option for a market that's seeing a lot of economic growth with heavy appreciation and a little cash-flow in certain areas. Where Cleveland is a great market for heavy cash-flow and slight appreciation. Cleveland has one of the lowest rent/price ratios in the nation.

    When looking to be under $100k, Cleveland will be the better option because you're not going to find any rent-ready deals in Columbus at that price range. 

    [email protected]614-662-1652
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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    1y
    Quote from @Elisha Johnston:

    Hi everyone! 

    Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.

    Hi Elisha, congrats on the new job! Here in Columbus, we're still seeing deals here that hit the 1% rule with positive cash flow and lots of potential for appreciation. As an investor myself, I moved here from Portland OR because of the strong macroeconomics of the Columbus market. The job market is strong due to major companies moving and developing here like Intel, Amazon, Google, etc. and there's a steady population growth and strong rental demand. You can find rentals at $120k-$180k price points. And the rules are also very landlord-friendly. Happy to connect and answer any questions you may have.
    [email protected]614-300-7535
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  • Elisha Johnston
    OP
    New to Real Estate · Los Angeles, CA · Member since 2024 · 23 posts · 16 votes
    1y
    Quote from @Jimmy Lieu:
    Quote from @Elisha Johnston:

    Hi everyone! 

    Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.

    Hi Elisha, congrats on the new job! Here in Columbus, we're still seeing deals here that hit the 1% rule with positive cash flow and lots of potential for appreciation. As an investor myself, I moved here from Portland OR because of the strong macroeconomics of the Columbus market. The job market is strong due to major companies moving and developing here like Intel, Amazon, Google, etc. and there's a steady population growth and strong rental demand. You can find rentals at $120k-$180k price points. And the rules are also very landlord-friendly. Happy to connect and answer any questions you may have.

    Ok great to know, thank you! I’ll reach out if I take a deeper look at the Columbus market.  

    0Reply
  • Account Closed
    Realtor · Cleveland, OH · Member since 2023 · 340 posts · 215 votes
    1y

    Hi, Ohio is a great place to invest in real estate. My clients from all over the world will definitely agree please reach out if you have any questions. Best Wishes!

    1Reply
  • Account Closed
    Realtor · Cleveland, OH · Member since 2023 · 340 posts · 215 votes
    1y

    Hi, yes Ohio has a great market to invest in feel free to reach out if you have any questions. Thanks! 

    2Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    1y
    Quote from @Elisha Johnston:

    Hi everyone! 

    Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.


     There is good options in Cleveland for that. You can find good multi-family that cashflow under $200k for sure. I'd look at B class areas there. You should look at 2-4 units that will cashflow positive. 

    [email protected]614-802-5698
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  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    1y

    @Elisha Johnston contact RL Property Management about the Columbus market.

    Contact @James Wise about Cleveland.

    A good/great PMC will know more about the rental market than the majority of agents!

    Logical Property Management4.9453 Reviews
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