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Updated over 1 year ago on . Most recent reply

User Stats

13
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14
Votes
Alaina Redfern
  • Rental Property Investor
  • Fairbanks, AK
14
Votes |
13
Posts

Out of State investor interested in Ohio

Alaina Redfern
  • Rental Property Investor
  • Fairbanks, AK
Posted

Hey everyone, real estate investor from Alaska here. I’m interested in the buy and hold strategy, I own a couple rental properties here in state but I’ve been interested in Midwest due to low property costs. I’ve been doing my research and I’ve narrowed down my sights to Ohio, leaning towards Dayton or Cleveland areas (if there’s another, please throw it out there!). I do not have boots on the ground there and I’m interested in picking anyone’s brain about neighborhoods to avoid, along with rental rates as cash flow is the driver for me.

Any insight is greatly appreciated, thank you!

Most Popular Reply

User Stats

32
Posts
45
Votes
Jeffrey Allen
  • Rental Property Investor
  • Cambridge, MA
45
Votes |
32
Posts
Jeffrey Allen
  • Rental Property Investor
  • Cambridge, MA
Replied

I invest in Columbus.  Columbus is the thriving growing city in Ohio.  The other major cities in Ohio are seeing population stagnation or decline.  Columbus, you can go after cash and appreciation.  You will certainly have to actively dig up good deals.  If you're looking for appreciation plays, in a number of areas you can throw a tennis ball from the street and hit a solid appreciation play (obviously appreciation is only a projection).

I think Cincinnati is a good market.  Recognize that there are some major industry declines happening.  Macy's and GE both are going through a very rough period and doing major layoffs.  Kroger which is also headquartered in Cincinnati will have to restructure as well with more online and delivery.  There is certainly money to be made there.

Dayton, make sure you get paid for the risk you're taking. There are some surrounding neighborhoods to the south of Dayton but kind of outside the greater Cincinnati ring that are solid.

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