Out of state Investing Ohio

[Albert Torosyan]

I have been looking to invest out of state and I have landed in Ohio 
What do you think about Ohio any advice what cities to look at. 

Any Advice for someone like that is starting out new to Out of State investing  will be much appreciated 

Would you look at elsewhere vs. Ohio 

[Myrna Gourgy]

Hey, @Albert Torosyan Is this your first time investing out of state? If so, congrats on looking to venture out of CA. It is actually pretty common for out-of-state investors to be intrigued by the Ohio housing market given the low costs compared to other markets. I was recently just looking into the data (kinda a numbers nerd) comparing Columbus, OH, and Cincinnati, OH so hopefully this helps. These are estimates from the realtor statistics in each given market and the trends and data they provide for realtors comparing July 2020 to July 2021 (August data has not been released yet). When it comes to median home prices both markets are increasing at the same percentage (Columbus at 12.8% and Cincinnati at 12.5%) so the rate of appreciation is looking to be similar at this point in time. 

On the other hand, the average number of days on market in Cincinnati is 3 days (25% decrease) and Columbus is 11 days (56% decrease). Lastly, I hate to beat a dead horse, we keep hearing "inventory is decreasing" which is true in most cases, but things seem to be cooling a bit. When it comes to inventory in Cincinnati it has decreased by 13.5% while Columbus has increased about 5% compared to July 2020.  Overall, and this is just my opinion, that Cincinnati is probably going to be a more competitive market given 3 days on the market and inventory down 13.5%. So you may have to offer more and margins may be a bit tighter. On the other hand, Columbus does have low days on the market with an increasing inventory. In my opinion, the competition may be lighter and would give you the ability to still negotiate and have more margins for profit. The market changes monthly and we see trends change regularly and this may be a completely different story two months from now. I hope that was helpful.