Buying Columbus from out of state? What I'd verify before a 1-4 unit
I see a lot of out-of-state investors looking at Columbus, and I get why: a diverse job base, steady population growth, and a big stock of older 1-4 unit housing. I've invested here for 17 years and work with investor buyers, so here is what I'd check before wiring earnest money from another state.
Neighborhood fit matters more than the city headline. Columbus changes block by block. Two duplexes a mile apart can have very different tenant pools, turn times and appreciation stories. Get street-level eyes on it, or at least drive it virtually at different times of day, and ask a local who owns nearby.
Know the age of the housing stock. Much of the $100K-$350K inventory is pre-1960. Budget for sewer scopes, electrical updates, and lead-safe work practices on older properties. A cheap purchase price can hide an expensive inspection.
Check city specifics. Columbus has its own code enforcement and permitting process, and the city is in the middle of a large rezoning effort (Zone In). If your plan involves adding units or changing use, confirm what is allowed before you count on it.
Line up the team before the house. Property manager, contractor, and insurance agent should be lined up during due diligence, not after closing. If your PM can't give you a realistic rent and turn timeline for that specific street, that's a signal.
Underwrite conservatively. I'd rather see a deal work at today's rates with real vacancy and capex numbers than depend on a refinance that may not come.
Out-of-state folks already in Ohio: what was the one thing you wish you had verified before your first purchase?
BJ Everson | Realtor with Swiss Realty Group