Is Purchasing canal Winchester Ohio homes with cash a good Idea

Buying & Selling Real Estate
6yFollow

Is Purchasing canal Winchester Ohio homes with cash a good Idea

Ethan Antwain ReynoldsPro Member
Member since 2018 · 27 posts · 10 votes

I am a cash buy and hold investor in Ohio my wife and I buy homes in 5+ school districts in central Ohio cash. we pay 1-5k bird dog fees depending on the discount of the deal for (150k homes 1% bird dog fee). our parameters are. 

City analyzer explanation I use the years 2000-2017

1. population growth 20% increase since the year 2000

2. income growth 30% increase since the year 2000

3. median home value 40% increase since the year 2000

4.crime under 500 moving in the direction of less crime

5. median household income 40-70k

6. no investments in areas with poverty levels 15-20%

7 neighborhood unemployment level no more than 2% above the main metropolitan city (Columbus).

we can't seem to find a good real estate agent in central Ohio that understands the investor side of real estate.

1Reply
42 views

Most Popular Reply

Brandon GoldsmithBusiness Member
Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
6y

Canal Winchester can be a good place to invest and obviously all depends on the investor's strategy. I would look at some other areas in the metro area of the city as there is a lot of opportunities to be a successful investor. At the end of the day just make sure the investment fits your goals. @Ethan Antwain Reynolds

[email protected]614-963-3340
1Reply
See this reply in the discussion

10 Replies

Jump to latestLatest
  • Mark H. Porter
    Investor · SC NC, VA · Member since 2020 · 1k+ posts · 756 votes
    6y

    Your basing your trends on 17 years Of history but there have been very unique things that could have happened to Towns that did not occur in others.  The real estate hit of 2008-2010 did not effect every area equally, migration out and immigration trends have changed as once poor areas have gentrified, corporations have come and gone, etc..  but most importantly, all this has proven recoverable in most areas outside of the rust belt.  I know you are trying to predict the future, but a much shorter 5 year trend would be more realistic of what the future holds.  There’s not as Much variance in the factors.

    We’re also in a period that could justify tossing much of the data out the window in a year or so.

    0Reply
  • Ethan Antwain ReynoldsPro Member
    OP
    Member since 2018 · 27 posts · 10 votes
    6y

    @Mark H. Porter

    Those are the parameters I use to stress test properties to see if a city meets my criteria I have already identified cities in Ohio that do. The next phase is the 5 year analysis if I choose that city Bc now is the best time to get renters in my opinion Bc if you can qualify someone in a down turn with good screening you have a solid tenant.

    0Reply
  • Ethan Antwain ReynoldsPro Member
    OP
    Member since 2018 · 27 posts · 10 votes
    6y

    @Beth Liesenfeld

    I’m gonna check out neighborhood scout

    0Reply
  • Brandon GoldsmithBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2020 · 1k+ posts · 1k+ votes
    6y

    Canal Winchester can be a good place to invest and obviously all depends on the investor's strategy. I would look at some other areas in the metro area of the city as there is a lot of opportunities to be a successful investor. At the end of the day just make sure the investment fits your goals. @Ethan Antwain Reynolds

    [email protected]614-963-3340
    1Reply
  • Ethan Antwain ReynoldsPro Member
    OP
    Member since 2018 · 27 posts · 10 votes
    6y

    thanks for the input all I am purchasing properties that are easy to rent. looking for fewer headaches and willing to pay for it. ultimately looking for 16 single-family homes that pay 1k - 1500 per door. 

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Ethan Antwain Reynolds:

    I am a cash buy and hold investor in Ohio my wife and I buy homes in 5+ school districts in central Ohio cash. we pay 1-5k bird dog fees depending on the discount of the deal for (150k homes 1% bird dog fee). our parameters are. 

    City analyzer explanation I use the years 2000-2017

    1. population growth 20% increase since the year 2000

    2. income growth 30% increase since the year 2000

    3. median home value 40% increase since the year 2000

    4.crime under 500 moving in the direction of less crime

    5. median household income 40-70k

    6. no investments in areas with poverty levels 15-20%

    7 neighborhood unemployment level no more than 2% above the main metropolitan city (Columbus).

    we can't seem to find a good real estate agent in central Ohio that understands the investor side of real estate.

    I am sure you will find some good real estate agents on BiggerPockets that are based in Columbus, Ohio 

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
  • Aimee Parker
    Zanesville, OH · Member since 2020 · 18 posts · 21 votes
    6y

    @Ethan Antwain Reynolds I have an investor-friendly real estate duo in Central Ohio that I could suggest to you!  Message me, and I can help you connect.  I have over 20 years experience in Central Ohio myself as a Realtor (I currently have my license on deposit with the State of Ohio and not actively selling), and worked with many investors from out of the area. I can also help suggest insurance agents, contractors, etc if you need those resources as well.  Congrats on Ohio buying - the markets here are fantastic and stand to make someone a lot of return, both short and long term!  

    1Reply
  • Ethan Antwain ReynoldsPro Member
    OP
    Member since 2018 · 27 posts · 10 votes
    5y

    @Aimee Parker

    Thanks for the reply do you know any contractors That do wall remodels I need to move some walls around and also bought a ceiling to make a small home appear larger

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free