All Forum Posts by: Naomi Joo

Sounds like a great plan. Should be able to buy a 4-5 bedroom house in Columbus. Your sister will have a built in network on medical workers to rent rooms. Probably the numbers work better if there are 5 bedrooms, but if you are extreme, maybe you can share a room and rent the others. She'll be working and studying a lot anyway so she may more need a place to wash clothes and get mail, depending on what her specialty is.

One thing to consider is that I see more and more residents stay in the city where they do residency. No requirement to do that, but that's what I see. If you get a five bedroom, you might consider renting 3 rooms, and keep the 5th one to rent STR maybe to med students just doing a six week rotation. Those people always seem to have a hard time finding accommodations, so you can probably charge a little more.

My suggestion would be to buy where you live. You either do that in Columbus or wait until she determines where she wants to be and likely that won't be until 3rd year. Renting rooms works, but not always 100% easy, so I think you add risk and complexity to buy in a city where you may never be.

Thank you for the suggestion. Your last point is exactly what I was considering and we may just have to find a deal where we feel comfortable seeling after 3 to 5 years. What part of renting have you found most challenging?

0 Votes

Dallas, Texas

Quote from @Aaron Breckenridge:

@Naomi Joo like Houston, the Dallas market varies enormously and I don't see a ton of areas inside the city that make for good investments without huge money down. Duplexes are going for +$1m in the city. If you look the the surrounding burbs, things are very different. But if your sister (doctor?) is anything like my spouse, she's not going to want to suffer the commute of living in the burbs while also working a tremendously stressful job.

Dallas pros:

- Appreciation
- Robust job market

Dallas cons:

- High taxes with an aggressive county appraisal office (no homestead exemption for rentals)
- High home prices in areas with low crime
- Poor soil requiring expensive foundation maintenance and repair
- Aging natural gas infrastructure
- Aging sewer infrastructure

I like Dallas, I live here, but definitely won't be investing here anytime soon.

Hi Aaron, thank you for the insights! yes, proximity to the hopstial is very important to her. The hostpial is located in North Dallas. What do you think about that area?

2 Votes

Dallas, Texas

Hello everyone,

My sister and I are looking to purchase a property to potentially househack. We are currently located in Houston but my sister will be relocating to Columbus, OH for her residency for 3 years. On the other hand, i am flexible as I work remotely.

Given this situation, we thought about buying a property in Columbus, Oh and been looking but we haven't been able to find a deal we like. And I feel a bit uneasy about holding a property for 10 years to see the profit esp when I wouldnt be living there. Am I overthinking this?

So I started looking at other markets like Dallas and Chicago as those are potential cities that my sister will be relocating to after 3 years. Since I have more flexibility and do not want to live in Ohio, i am thinking that I will try to find a deal in Dallas or Chicago and when she is done with residency, we can continue to build equity and live together. Dallas has good appreciation prospect and seems to be growing and growing. And it would be easier to drive to Dallas to check it out.

Chicago, on the other hand, I like that it's a bigger city but also seems like a lot of the houses I am seeing are very outdated and requires fixing which i have no experience in at all. However, we do like the urban lifestyle better.

It's a bit overwhelming trying to pick a market and I assume I can buy in Columbus first and use the quity to buy second one in other cities. However, It seems like the prices are quite inflated and I am not sure how to make a good decision. So I wanted to get some help and wisdom in navigating what would be the best path forward. Appreciate it!

3 Votes

Dallas, Texas

All Forum Posts by: Naomi Joo

Naomi Joo has started 1 posts and replied 4 times.

Post: Picking a market (Columbus, Dallas, Chicago)

Post: Picking a market (Columbus, Dallas, Chicago)

Post: Picking a market (Columbus, Dallas, Chicago)

Post: Picking a market (Columbus, Dallas, Chicago)