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Updated about 3 years ago on . Most recent reply

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Arturo Ochoa
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First time investor looking for general advice

Arturo Ochoa
Posted

Hello everyone, I'm finally ready to pull the trigger to get our first investment property, I've done quite a bit of research and would like your opinions in a few topics I'm still blurry about. 

Investment plan: we are targeting a SFH for a LTR, hopefully generate some cash flow in this crazy market. We plan in putting 20% down (50k max + closing costs), and get an investment loan which I have found one broker with a rate between 3.75-4%. We are using the realtor we used for our primary residence. With our current budget, we are looking at houses in the 200-250k range.


1. What zones/areas would be a good opportunity for our initial investment in that price range?
2. Is there any recommendations for different bank/broker? is the rate we were given good for an investment property? 

Thanks in advance, Any other general advice is also appreciated.

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Joshua Janus
  • Realtor
  • Cleveland, OH
1,488
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Joshua Janus
  • Realtor
  • Cleveland, OH
Replied

Here is a short analysis of my market. 

Columbus, Ohio is a great market to invest in. The population has been growing here year over year over the last decade, it is home to The Ohio State University which has over 50,000 students that live here along with those that visit, and it also holds a diverse range of young professionals and traveling nurses to fill the demand of the multiple business corporations and hospitals stationed here. Tech companies are continuously moving here and establishing a footprint in Columbus as well. Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.

https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/

Here are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0

https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus

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