Neighborhoods for First Time Home Owners in COLUMBUS, OH ??

Question

Hey there!

Still kind of fresh in real estate. Looking to find my first lead and make close my first deal as soon as possible. I just had a question for all the investors etc. around the Columbus Ohio area. What are the best and brightest neighborhoods for first time homeowners? So far I've heard of Franklinton, Olde Town East, Linden area.. Are there others that I should be focusing out?

Thanks in adnvance!

Best,

Aly

Paul Timmins · Answer

@Alyssa Meis

Welcome.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses,  The Book on Estimating ReHab Costs  http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Ed W. · Answer

@Alyssa Meis you state that you are new to real estate and I just want to confirm that you literally mean "... first time homeowners"; i.e., you are looking for neighborhoods (as opposed to and to the exclusion of suburban subdivisions) that may attract first time buyers of what will be their owner occupied home.   If this is literally the case, if you tell us why you are looking for these, we may be able to give you better feedback.

On the other hand, if in your newness to real estate your are not using the typical language investors use and  you are really asking for insight into better neighborhoods for newbie investors to consider, that's a different kettle of fish.

Please clarify.

John Horner · Answer

I would probably disagree with all of those, especially Linden.  OTE and Franklinton are mostly garbage, but each have a few "up and coming" neighborhoods that are being revitalized.  North Linden has some OK streets, South Linden I would disregard altogether.

I guess it depends on the income class you are referring to.  Folks with college degree's would probably want to be around Clintonville, Short North, Grandview and German Village.  Once they have kids they would probably move to Upper Arlington, Worthington, or the suburbs where the Public Schools are better (Powell, Dublin, New Albany, etc)

Hope this helps!

John Horner · Answer

I know this is a BP sponsored post, but this is pretty much garbage as far as I'm concerned.  Do you really need to spam every newbie that enters the sight?  This has nothing to do with the OP's question at all?  She doesn't say anything about flipping houses yet you recommend J. Scott's Book?

Mark Nolan · Answer

@Alyssa Meis

Welcome to Bigger Pockets. BP is full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members. This is one of my favorite features of Bigger Pockets especially for asking specific questions.

Justin Lemaster · Answer

One quick tip, investment property that has Columbus schools but a good school district is always desired, It will save you as an investor and save you some money on yearly taxes. It seems to be desirable when its time to sell your property for the same reason.

Of course the bottom line comes down to price, you will be in a higher purchase bracket than a Linden, Franklinton etc. But you will have much better luck on the back end when its time to sell the property.

ie. Columbus City, Dublin Schools, etc.

happy Investing!

Justin Taber · Answer

Hey Alyssa,

I am a new investor myself.  My brother and I just purchased two duplexes in town.  There are a lot of great neighborhoods but it depends what you are looking for.  Personally I would agree with John and LaTonga  that I would not be looking to much in those neighborhoods.

One of our properties is in Merion Village and we like that area a lot.

I'd be happy to chat with you anytime!

Justin

LaTonga Smith · Answer

@Alyssa MeisI have to agree with Josh. I am a licensed realtor in Columbus, Ohio and I have NEVER had a first time homebuyer looking in any of those areas as a first choice---especially Linden. There may be very small pockets in Old Towne East/Franklinton but that would greatly depend on the end buyer. Do they have kids? Does the school system matter? Their age. Those things will play a major part in that decision.

Neighborhoods for First Time Home Owners in COLUMBUS, OH ??

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