Investing in Columbus Ohio

[Martin Krimmel]

Hi BP!

There are more and more articles about the strong population growth in Columbus Ohio and I'm curious who on here invests there or has opinions to share.

Is it a good market to invest in for small multifamily and what monthly cash flow/COC returns do investors see there?

Thanks!

Marty

[Steven J. Umaña]

Hey Marty - Welcome to CBUS. I'd be happy to chat about my experience if you'd like to direct message me. Happy Investing!

Steve

[Joshua Biondi]

@Martin Krimmel I’m no expert but I’d be happy to connect and tell you about my experience thus far. Feel free to shoot me a PM.

[Joshua Biondi]

@David Yoder hey David, may I inbox you as well?

[Vincent Gable]

Also in Columbus, im no expert but i have a few rentals here in town. If i can be of help please feel free to message me.

[Michael C.]

@Martin Krimmel

Returns are good here, only thing is people are now over paying for properties!

[Martin Krimmel]

Thank You all for replying. I've reached out individually. I am looking for an experienced investor friendly agent and a great property management that could help me find deals in Columbus. Any contact here is appreciated!

Thank you!

[Alma Bagaoisan]

@Martin Krimmel hi we’re you able to invest in Columbus. I’m interested investing in the area also.

[Zeke Liston]

Hey @Martin Krimmel I invest in Columbus. Although it's harder to find good deals on the MLS there are some great off-market investments! I highly suggest investing here!

[Martin Krimmel]

@Alma Bagaoisan I have not yet at this point. Was wrapping up a property in NYS and haven't been able to go deeper into Columbus but always interested and will keep a look out.

[Matt P.]

@Michael Conrad Real talk. It's crazy lol every week there is a thread or 2 asking how people like investing in Columbus or wanting opinions on it.

[Remington Lyman]

@Martin Krimmel Good luck! It is a great market if you are willing to put some work into it. I believe it is a harder market to enter due to its popularity. Cleveland and Cincinnati have a lot more readily available "deals", but I believe REI in Columbus will pay better dividends in the long term.

[Josh Chastain]

@Remington Lyman What’s your recommendation for an out of town investor looking to break into the CBUS market?

Any info would be helpful. Thanks!

[Remington Lyman]

@Josh Chastain I would get with a Realtor that knows how to work with investors. There are a few solid ones here on BP.

[Peter Lohmann]

@Matt P. Yeah you're right about that and frankly it's kind of annoying. If you want to invest in Columbus, go ahead. But nobody is going to roll out the red carpet for you, and if they do, they are selling you something. We're literally in the midst of a red-hot market the likes of which nobody I know has ever seen, yet people are wanting to buy? Buy high sell low, I guess.

[Remington Lyman]

@Peter Lohmann where would you suggest investors go? Most of the investors that I end working with are bullish on the Columbus market and have a buy and hold strategy like myself. I think if I purchase solid multifamily assets that I can rent up easily I will be fine. When I am ready to retire in 5-15 years.

[Peter Lohmann]

If your timetable is 10+ years, the purchase price is almost irrelevant as long as the income can support the debt + expenses of the property (and that's a BIG if). 

But many (most?) investors tend to churn properties in search of "deals", and if you're looking to cash out in less than 5 years, I would not suggest buying in Columbus right now. But I'm certainly not a trained economist or anything so I wouldn't necessarily take my advice if I were you!

[Remington Lyman]

@Peter Lohmann I agree with you that investors love to churn properties. It is amusing to look up 4+ units in Linden/Hilltop/Whitehall and see how many times they have been sold in the last 5 years