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Updated over 6 years ago on . Most recent reply
Looking to invest in Ohio and would like to get market feedback
Hi, I am looking at investing in Ohio, single family home rentals. In particular, the area of Lima and its surrounding area. One scenario floated across to me are homes in the 25-30K range with rentals around 300-400. Is this a norm there? Also, can anyone share about the
- is Ohio a good place to invest
- economy
- major industries
- demograhpics
- tenancy act if landlord or tenant biased
- quality of renters that are paying in this range
- difficulties in holding a large number of these (100+ homes)
Thanks very much!
Most Popular Reply

I won't be much help with Lima specifically, but if you had to take a guess on the quality of tenant you'd get for $300-400 a month, what would you assume? I'm sure there are some exceptions, but I'd put your vacancy rate much higher than the recommended 10% on that low of rent, and increase your projections for eviction costs (if done through an attorney (required if the property is in an LLC.), you're looking at $300-400 each time.
Also, owning 1 unit from afar is difficult I'm sure, I can't imagine 100+. Impossible? Absolutely not. A much larger challenge than owning 20 higher performing units? I'd say so.