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Updated 11 months ago on . Most recent reply

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Ryan Louz
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4
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Philadelphia PA vs Columbus OH - Which is better for an out of state investor?

Ryan Louz
Posted

I'm an out of state investor from California with $150k in cash looking to buy a single family in either Philadelphia PA or Columbus Ohio.

Which area would you recommend between these two?

I'm leaning towards Philadelphia because I personally find the area more interesting, and it seems like a more international city. 

My concern with Columbus is it reminds me a bit of Memphis TN a few years ago where it was flooded with investors and nearly all homes were out of state investor owned leading to a lot of competition to market rentals to tenants, and lower home appreciation as a result. 

However, I'm still open to choosing Columbus Ohio if it's a better investment than the Philadelphia area.

My priorities are:

- Landlord friendliness (I don't want to get stuck in a location where its hard to get uncooperative tenants out of a property)

- Friendlier Short Term Rental laws (AirBNB, etc) 

- Ideally lower property taxes (Not a huge concern if there isn't a big difference between the two)

- Better cash flow (If the different purchase price to cash flow is substantial, I'd want the better cash flowing area)

Which between these two regions would you recommend?

Most Popular Reply

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395
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310
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Jonathan Bock
  • Financial Advisor
  • Bryn Mawr, PA
310
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395
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Jonathan Bock
  • Financial Advisor
  • Bryn Mawr, PA
Replied

@Matthew Constantini

AI prompt says Philly is landlord friendly?  The machine has no emotion and no clue 

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Impact Advisors Group

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