Cleveland and/or Columbus area

[Elisha Johnston]

Hi everyone! 

Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.

[Elisha Johnston]

Quote from @Regina Blake:

Hi, Ohio is a great place to invest in real estate. My clients from all over the world will definitely agree please reach out if you have any questions. Best Wishes!

 thank you!

[Elisha Johnston]

Quote from @Michael Smythe:

@Elisha Johnston contact RL Property Management about the Columbus market.

Contact @James Wise about Cleveland.

A good/great PMC will know more about the rental market than the majority of agents!

 thank you! Reached out to James. 

[Elisha Johnston]

Quote from @James Wise:

Quote from @Elisha Johnston:

Hi everyone! 

Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.

 If you're looking at Cleveland, I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods to get yourself an understanding on the market.

 thank you! I'm taking a look at this now. 

[James Wise]

Quote from @Elisha Johnston:

Quote from @James Wise:

Quote from @Elisha Johnston:

Hi everyone! 

Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.

 If you're looking at Cleveland, I suggest reading The Ultimate Guide to Grading Cleveland Neighborhoods to get yourself an understanding on the market.

 thank you! I'm taking a look at this now. 

[Brittany Minocchi]

Cleveland will have a lower cost of entry and higher cashflow, Columbus a higher cost of entry but probably a good mix of cash flow and appreciation. I will say I've done far more loans for people, the majority of them out of state investors, in Cleveland. You should definitely be able to find decent multifamily properties for under $200k, and multifamily would be my suggestion for starting out if you can swing a larger down payment (depending on loan type, you MAY need 10% more for a multifamily vs a single family, but not always). That way if you have vacancy in one unit, you still have the other that can at least cover some or all of your expenses. 

Happy to answer any questions you have, feel free to reach out whenever! 

[Pete Krusinski]

Hi Elisha, 

Excited to hear you getting into real estate right out of college. Cleveland is a great place to start. Given your budget you can definitely find a great property in a C class neighborhood, whether you're looking for a turnkey property or something that needs light cosmetic work, your buy box offers a great possibility to find a solid first investment.