New in real estate

[Emily Shin]

Hello, I am new to this community and to real estate investing. Currently, I live in New York, but I am interested in exploring opportunities in Columbus, Ohio. This will be my first home purchase, and I am aiming to invest in multi-family properties.

What should I be aware of when purchasing a multi-family property? I am considering living in one of the units myself. Do you think that’s a good idea? Would living in the same property as my tenants have any downsides?

Any advice is greatly appreciated, and I look forward to connecting with all of you

[Mike Paolucci]

Quote from @Emily Shin:

Hello, I am new to this community and to real estate investing. Currently, I live in New York, but I am interested in exploring opportunities in Columbus, Ohio. This will be my first home purchase, and I am aiming to invest in multi-family properties.

What should I be aware of when purchasing a multi-family property? I am considering living in one of the units myself. Do you think that’s a good idea? Would living in the same property as my tenants have any downsides?

Any advice is greatly appreciated, and I look forward to connecting with all of you

 Hi Emily, welcome to BP! You can find some good properties here in Columbus. Living in one of the units is a great idea when starting out so you can limit your living expenses. Lots of investors start out house hacking. I'm currently house hacking a duplex in Hilliard, OH (Columbus Suburb). 

Living in the same property as your tenants is fine. If you're planning on managing the rental unit yourself, you'll learn a lot about owning rentals pretty quickly. Another option would be to utilize a property manager to manage everything and keep a buffer between you and the tenants. It can make life easier when it comes to having to make a business decision and think with your head, rather than your heart. 

Depending on your budget, I'd recommend areas like Olde Towne East, Clintonville, Merion Village, Grandview, Southern Orchards and a few others.