New Member to Columbus, OH area looking for guidance

[Adam Jutte]

Hello All,

My fiance and I just moved to the Columbus, OH area.  I have several years of remodeling experience and have 2 projects I am looking to get started.   1) Purchase my first home (ideally in need of TLC) and rehab it.  2) Purchase a rental property either a 3 bedroom or a duplex.

I have been a long time listener to BP and feel that I have built the skills needed to run numbers on a property, I am curious which area codes are up and coming as well as which ones have good returns on rent.  I know areas like Upper Arlington and Dublin are the "nice" areas, but I feel that the houses are overpriced, even the distressed ones.  

Finally, any recommendations on wholesalers or real estate agents that can help get me started.

Thanks in advance,

Adam

[Mike German]

Hey @Adam Jutte, welcome to BP!

Congrats on getting ready to take action!I think you are asking about zip codes since Columbus area is a all 614 area code.  

Regarding up and coming areas, just drive around downtown and you’ll see the activity.  ons of near downtown (43204, 43205, 43206, just to name a few) with lots of competition, too.  Check out the variation of the “As Is” prices for $30k rebuilt homes for $300k+; probably a good sign that there is upside potential.

Regarding the best returns on rent areas, you will likely struggle with cash flow in A class areas like Dublin/Upper Arlington, etc, but have better chance for appreciation.  I will borrow from @Brandon Turner’s advice: analyze a bunch of deals in various zip codes to figure what works for you.  Your flip area may or may not be the best long-term rental area.

Regarding realtors, I’d talk to @Robert Ellis and his team; they can really provide great market insight and possibly have wholesaler connections as well.

Good luck!

Mike German