Picking a market (Columbus, Dallas, Chicago)

Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes

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.

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Naomi Joo
OP
Member since 2025 · 4 posts · 5 votes
1y
Quote from @Bruce Lynn:

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?
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Bruce Lynn
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
1y
Quote from @Naomi Joo:

It's always about picking the right tenants. You want the ones that pay upfront or early or at least on time and are quiet and almost never call you. If you buy a 4-5 bedroom, you want the residents who sleep at the hospital and only come home once a week to check mail, do laundry when you're not doing it and not trying to sleep, and take a nap before they head out to the next 7 day shift. Those are hard to find.
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Wale LawalBusiness Member

Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes

1y

@Naomi Joo

You're on the right track exploring house hacking, especially with your flexibility and your sister's relocation plan. Given your Houston base and ability to travel, focusing on Dallas makes a lot of sense—it's a strong growth market in Texas with solid appreciation potential, landlord-friendly laws, and a more accessible option for you to manage or house hack. Chicago has appeal for lifestyle, but can be rehab-heavy and less investor-friendly, while Columbus might not align with your long-term goals if you won’t be there.

If you need help narrowing down neighborhoods or running numbers in the Texas market, feel free to DM me—happy to point you in the right direction!

Good luck!

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Drew SygitBusiness Member

Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes

1y

Why are you buying together?

How do you know one of you won't have a significant other or family in 3 years? 10 years?

You're probably looking at what sellers are asking for their properties, instead of calculating how much you should pay to meet your ROI targets!

Suggest you chat with @Remington Lyman, who's well versed in offmarket properties and searching the MLS for investors.

[email protected]248-209-6824

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Naomi Joo
OP
Member since 2025 · 4 posts · 5 votes
1y
Quote from @Drew Sygit:

Why are you buying together?

How do you know one of you won't have a significant other or family in 3 years? 10 years?

You're probably looking at what sellers are asking for their properties, instead of calculating how much you should pay to meet your ROI targets!

Suggest you chat with @Remington Lyman, who's well versed in offmarket properties and searching the MLS for investors.
Yes, we will see if we can negotiate on the asking price. Thank you for the referral!
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Brie SchmidtBusiness Member

Moderator

Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes

1y

@Naomi Joo - I started off househacking in Chicago almost 15 years ago and have been an investor agent working with house hackers ever since. Chicago can be a complicated market, a lot will depend on your budget and area. I have some property examples I can send over to give you an idea of what to expect. Personally, I would not recommend a property that needs more than a light cosmetic rehab due to our complicated permitting and construction process. Full renovations will run you over $200k here

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Remington LymanBusiness Member

Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes

1y

Quote from @Naomi Joo:

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!

Home prices in Columbus continue to be lower than the national average. The decision hinges on whether you prefer to invest in an A-class area or a B-class area, which influences your potential cash flow. Numerous investors have found better returns in neighborhoods categorized as A than those in C neighborhoods. However, it's also possible for investors to purchase in C neighborhoods and still achieve good returns. Ultimately, it boils down to your investment goals and personal strengths.

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Min ZhangBusiness Member

Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes

1y

Hey Naomi, I can’t speak too much about other markets, but here in Columbus, we’re seeing a lot of appreciation and strong growth, especially with the expansion of tech giants and Intel. My advice would be to start by narrowing down your market focus and reaching out to your lender to get a clear picture of your price range. After that, you’ll need to filter what type of property you're aiming for, whether it’s a single-family home or a small multi-unit (2-4 units). Depending on your budget and the property type, you’ll want to check if you can afford either option in that price range. Then, you can look into the potential cash flow and see if the numbers make sense for you. Best of luck on your search!

[email protected]614-412-2912

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Drago Stanimirovic

New to Real Estate · Miami, FL · Member since 2024 · 1k+ posts · 466 votes

1y

Naomi, you're asking all the right questions. Since your sister is relocating to Columbus for 3 years, buying there to house hack makes practical sense , you'll be on-site, can self-manage, and learn the process hands-on. It doesn't have to be a 10-year hold; you can reassess after her residency and potentially use the equity to move into another market like Dallas or Chicago.

Dallas offers strong long-term growth, while Chicago has great urban lifestyle options, though more rehab-heavy. If you're not ready for renovation, Columbus might be the smoother entry.

It’s okay to start simple. Focus on one solid, manageable deal first , the rest will follow.

Happy to help if you need a second set of eyes on a property.

2 Reply

Jimmy LieuBusiness Member

Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes

1y

Quote from @Naomi Joo:

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!

Hi Naomi! I'm originally from Portland Oregon and moved to Columbus Ohio around 5 years ago. I would definitely suggest Columbus Ohio as your next real estate market! It's one of the hottest markets in the US right now with some of the fastest population and job growth and companies moving and developing here. I would recommend taking a look into 26B Intel headquarter development, Amazon, FB, LG, Google, Anduril, Nationwide, Ohio State University, and many other companies here! Additionally, you can still find properties for 120-180k that will positive cash flow and hit the 1% rule. Recently one of my clients purchased a $120k single family house and is currently renting it out for $1550/mo. Anything you buy in the Columbus Ohio market is currently blowing up in terms of appreciation growth.

I know you mentioned you were thinking of buying a house in Columbus that would mean holding it for 10 years until you see profit - I do strongly believe you may be working with the wrong realtor or looking at the wrong locations in this case. You can definitely hit the 1% rule and find immediate positive cash flow here! Happy to connect and answer any questions you have! :)

[email protected]614-300-7535

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Marc RiceBusiness Member

Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes

1y

Hey Naomi, I’ve been doing real estate in Ohio since 2018. You need to factor in the average 5% appreciation and rent growth in Columbus. On my BP profile you can learn more about my experience in Ohio and resources I have in the local area. Please let me know if you have any questions or if I can help with anything.

[email protected]614-363-2787

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Aaron ZimmermanBusiness Member

Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes

1y

As a Chicago investor, I wanted to chime in. I think it’s a great place to invest but there are some pros and cons:

Pros:

1. Abundance of 2-4 unit housing stock which is great for house hacking in particular.
2. Large job market meaning lots of qualified tenants

Drawbacks:

1. Property taxes are high here so this has to be factored into the numbers.

2. Old housing stock - while well built it does require fixing up in many cases.

3. Regulations - they are very pro-tenant friendly.

A lot of things to consider but I think Chicago is one of the best cities in the US and will continue to be great for many years to come.

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Mike FisherBusiness Member

New Lenox, IL · Member since 2024 · 113 posts · 63 votes

1y

Quote from @Naomi Joo:

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!

Hi Naomi,

Thanks for sharing your journey—it sounds like you and your sister are approaching this the right way: thoughtful, strategic, and keeping both short- and long-term goals in mind. I know how overwhelming it can feel when you're deciding not just where to invest, but also how to make it work for your lifestyle.

I’ve been in real estate here in Chicago for over 20 years as both an investor and licensed broker, working with all kinds of strategies—househacking, buy-and-hold, fix-and-flip—across both single- and multi-family properties. So I can definitely relate to your concerns about outdated homes, renovations, and long-distance investing.

That said, Chicago is a city that rewards local insight and long-term perspective. There are still solid opportunities here—especially in emerging neighborhoods—if you know where to look and have someone to help you navigate it. Even if you’re not ready to dive into this market just yet, I’d be happy to share what I know and be a resource as you and your sister figure things out.

Feel free to reach out anytime if you'd like to chat more about Chicago (or just brainstorm next steps in general). No pressure—just here to help however I can.

Wishing you both the best on this exciting path!

[email protected]

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Kate Sanchez

Member since 2025 · 248 posts · 101 votes

1y

@Naomi Joo Columbus makes sense short term. Have you looked into duplexes near hospitals? You can house hack now & refi later to scale into Dallas/Chicago.

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Peter W.

Member since 2020 · 351 posts · 329 votes

1y

Buy where you will live. I would recommend your sister house hack in Columbus and I would recommend you house hack wherever you live. If she househacks and sells after 3 years, you probably still end out ahead vs. renting for 3 years. And you can make the decision to hold vs. sell when the time comes around. I chose not to buy when I was in grad school because I was only going to be there for 2 years, it was a mistake. I would have done very well in those 2 years (essentially rent free living and appreciation would have covered most of my selling costs) and I ended up living there for 5 years. Life moves forward, but it was a missed opportunity.

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Aaron BreckenridgePro Member

Technology · Dallas, TX · Member since 2022 · 486 posts · 311 votes

1y

@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.

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Naomi Joo
OP
Member since 2025 · 4 posts · 5 votes
1y
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?
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Aaron BreckenridgePro Member
Technology · Dallas, TX · Member since 2022 · 486 posts · 311 votes
1y
@Naomi Joo North Dallas is wonderful, but terrible investment market unless you're going for appreciation. I'm guessing either Parkland or Presbyterian or Medical City? If Presbyterian or Medical City then you're in luck as Richardson isn't too expensive yet, but the neighborhoods are a tad bit rougher, offset with better schools. My wife worked at Baylor and found an insane deal for a duplex where the landlord never raised her rent in 10 years, but it now rents for over $2k, and empty land in that neighborhood goes for $600k. Her landlord had owned the property for 30 years and we swear he kept it cheap so that she could be the "anchor white lady" for the neighborhood.
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Jarret Jarvis

Real Estate Agent · Chicago · Member since 2021 · 170 posts · 64 votes

1y

Hey Naomi!

You're asking all the right questions, and it’s great to see you thinking long-term while weighing lifestyle, appreciation, and logistics. This can definitely feel overwhelming, but you're not alone—lots of first-time buyers and house hackers go through this same thought process.

As an agent and investor based in Chicago, I’ll say this: the city offers a ton of opportunity, especially for house hacking. Yes, many of the properties need some updating, but that’s where the value-add potential comes in—especially if you partner with the right team to guide you through repairs or even light cosmetic updates. The rental demand in many neighborhoods is strong, and with the right deal, it can really set you up for equity and cash flow.

That said, it’s totally valid to be cautious if you’re not going to live in the property long-term. If Columbus feels like a "maybe," and Dallas is easier to access for you and your sister, it might make sense to wait for the right deal in a market you’re more confident about—especially if you're thinking about lifestyle fit after residency.

Happy to connect and walk you through what investing and house hacking in Chicago would look like—both the pros and the stuff to watch out for. Whatever you choose, the fact that you’re being thoughtful now will pay off big time down the road! #LETSGO

– Jarret (Chicago-based agent + investor)

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Scott AllenBusiness Member

Real Estate Agent · Columbus, OH · Member since 2020 · 449 posts · 471 votes

1y

@Naomi Joo If you are relocating to Columbus for 3 years for your sister's residency, open to house hacking a duplex in an A class neighborhood very central in Columbus, looking to build equity in a property over the course of that time while offsetting your mortgage payment with monthly income from one of the units - let me know, I have something that would be a great fit in Victorian Village.

[email protected]614-698-1227

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Picking a market (Columbus, Dallas, Chicago)

Picking a market (Columbus, Dallas, Chicago)

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