MF Cash Flow - Columbus vs Cincinnati/Cleveland

[Joseph Todd]

Hey all,

A couple of partners and I are getting ready to deploy some capital in medium-sized multifamily in Ohio. We are looking to get into B neighborhoods or upper end C neighborhoods. Our primary goal is consistent cash flow, not particularly worrying about appreciation. Those of you who invest in or work with MF primarily, I am curious:

1. How do you see Columbus compare to the other major metro areas (primarily Cleveland/Cincinnati) in terms of cash flow? Am I wrong to think that cap rates have declined as a result of millennial movement into the city and constraint on supply?

2. What are the reasons you chose to invest where you did?

3. Do you see population and jobs continuing to leave urban centers in favor of suburbs?

4. Besides the excitement about affordable property values and some young people taking advantage of this affordability, what are the real driving factors that will carry these markets forward and ultimately transform them into healthy, sustainable areas?

5. Are there any local resources that I wouldn't know about and should check out to expand my understanding of these questions?

Much appreciation to anyone that is willing to speak with me and help out. If there is something I can do for you to make it worth your time, please let me know. Hope to be working with some of you soon!

-Joe