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Updated almost 2 years ago,
Newb: young buck that just moved to Columbus. Any advice on zip codes/strategies?
I have no RE experience. Just moved to Columbus in February from HCOL city. Moved here for the ability to start RE portfolio with a lower upfront cost. Also like the Columbus metrics for population/job growth.
- Don't think I want to BRRR for my first home. Potentially too much work/stress
- I've identified Franklinton as an area I am interested in. I think it will gentrify over the next 5-10 years. Also ideal place to get in with $200-250k home prices
- Won't be living in my first property as owner occupied. Signed a 1 year lease on an apartment that will end EOY.
- I want to be able to get around 1% cashflow, but after lightly crunching numbers, it seems highly unlikely, even in Franklinton.
- Goal is to get an investment property this year and then next year once my lease is over, buy and move into Grandview as property (and owner occupied) #2.
- Long term goal: potentially nomad strategy, adding 1-2 properties per year until I get to 10 properties, at which point I will deeply reflect on what's next.
- What are the best tips/strategies for those that know Columbus well?