Hello everyone, I am inquiring about out-of-state investing in the Columbus Ohio region. What are some quality property management companies? What are some good areas within Columbus, Ohio to invest in? What are the average rent rates? Purchase prices? Also, I would be looking for a quality realtor. One that loves what they do, loves to teach and does not push to make a sale.
Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
1w
Hi Jeanette! Columbus is definitely worth looking into if you’re considering investing out of state. I’d spend some time comparing different areas and seeing how the rents and purchase prices line up with your goals. Having a good local Realtor and property manager can make things a lot easier when you’re investing remotely. Happy to share what I’ve learned from investing in the area!
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 942 votes
1w
Quote from @Jeanette Land:
Hello everyone, I am inquiring about out-of-state investing in the Columbus Ohio region. What are some quality property management companies? What are some good areas within Columbus, Ohio to invest in? What are the average rent rates? Purchase prices? Also, I would be looking for a quality realtor. One that loves what they do, loves to teach and does not push to make a sale.
Columbus is definitely worth looking at for out-of-state investing. I’d focus less on finding the “perfect” area and more on the specific neighborhood, rents, and numbers on each deal. Having a realtor and PM who actually understand investors makes a big difference too. I’d be happy to share what I’m seeing around Columbus.
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
1w
@Jeanette Land I really like working with ERA PM here in Columbus. They do a good job. I have some other companies as well that I refer my clients too.
Average rents in Columbus depends on what area and property you are buying. Rentometer is very helpful for newer investors + zillow to kind of give you average rents. But 3-beds typically rents for $1,400 to $1,800 depending on the location.
I own 30 units in Columbus and also sell around 100-120+ properties to OOS investors. Happy to send you my investor drive and resources to help you.
Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
2d
Welcome, Jeanette. It's good to see someone asking about teaching and fit before picking a realtor.
For rough numbers, I'm still finding single families at $120K to $180K that hit the 1% rule and cash flow after expenses, and small multis start around $200K. A 3-bed usually rents between $1,400 and $1,800 depending on the area, and most deals come with $20K to $30K of built-in equity at purchase. You can find these in B- and C+ areas, but it changes block by block, so I'd never pick by zip code.
For a property manager, talk to three and ask for average days to lease, how repairs get approved, and whether they mark up contractor invoices. For a realtor, ask them to walk you through a recent deal, including one they told a client to pass on.
I researched Columbus from Portland before moving here in 2020, so I remember this stage well. I'm always happy to network with investors looking at Columbus, so feel free to connect and I'll do my best to point you in the right direction.
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
4h
Quote from @Jeanette Land:
Hello everyone, I am inquiring about out-of-state investing in the Columbus Ohio region. What are some quality property management companies? What are some good areas within Columbus, Ohio to invest in? What are the average rent rates? Purchase prices? Also, I would be looking for a quality realtor. One that loves what they do, loves to teach and does not push to make a sale.
I can refer you to some property managers here in Columbus, Ohio!
The areas depend on what you are looking for in your rental.