All Forum Posts by: Christos Kalogeropoulos

Yes, rental properties that are within walking distance to train stations can be more valuable than similar properties that are not. This is because easy access to public transportation is a desirable feature for many renters, particularly those who commute to work or school.

In your case, the new train station and the development of lofts in the area suggest that there is likely to be growing demand for rental properties in the neighborhood. However, it's important to remember that the overall quality of the neighborhood and the school system can also impact the value and appeal of your property to potential renters.

As with any investment, it's important to conduct thorough research and analysis before making a decision. Consider factors such as rental rates in the area, vacancy rates, and any potential costs for renovations or repairs. Additionally, consult with a real estate professional or financial advisor who can provide more personalized advice based on your individual circumstances and goals.

Congratulations on your decision to explore real estate investing and welcome to Bigger Pockets! Here are a few steps that I would do in order to get started:

1. Define your goals: Before you start investing, you should have a clear idea of what you want to achieve. Are you looking to generate passive income through rental properties? Are you interested in flipping houses for a profit? Or are you looking to build long-term wealth through real estate appreciation? By defining your goals, you can focus your efforts and make more informed investment decisions.
2. Educate yourself: Real estate investing can be complex, so it's important to educate yourself on the fundamentals. You can start by reading books on real estate investing, attending local seminars, or taking online courses. You can also reach out to local real estate investors or real estate agents to get advice and learn from their experiences.
3. Develop a strategy: Based on your goals and education, you should develop a strategy for investing in real estate. This might include identifying specific neighborhoods or property types that you want to focus on, determining your budget and financing options, and setting criteria for evaluating potential properties.
4. Build a team: Real estate investing can be a team sport, so it's important to build a network of professionals who can help you along the way. This might include real estate agents, attorneys, lenders, contractors, property managers, and accountants. These professionals can provide valuable advice and services to help you achieve your goals.
5. Start small: As a new investor, it's generally a good idea to start small and work your way up. You might begin by investing in a single-family home or a small multi-family property. This can help you gain experience and confidence before moving on to larger and more complex investments.
6. Be patient: Real estate investing is a long-term game, so it's important to be patient and stick to your strategy. It may take time to find the right properties and tenants, and there may be bumps along the way. But with persistence and a solid plan, you can build a successful real estate portfolio over time.

Remember, real estate investing can be a rewarding way to build wealth and generate income, but it's important to approach it with a clear strategy and realistic expectations. Good luck on your journey!

Hey Oscar,

As an international investor, getting started with rental properties in Columbus, Ohio can be a great way to grow your portfolio and generate passive income. Here are some steps you can follow to get started:

1. Research the market: Before investing in rental properties, it's important to research the real estate market in Columbus, Ohio. You should learn about average rental prices, demand for rental properties, and any potential challenges or risks that you may face as a landlord.
2. Identify your target rental market: Columbus has a diverse population, so it's important to determine who your target rental market will be. This will help you select properties that are located in areas where your target market is most likely to rent.
3. Find a local real estate agent: A local real estate agent can be a valuable resource for you as an international investor. They can provide you with information on available properties, help you navigate the local real estate market, and assist you with the purchasing process.
4. Consider using a property management company: As an international investor, it can be difficult to manage rental properties from a distance. A property management company can help you by handling day-to-day operations, such as marketing and renting the property, collecting rent, and managing repairs and maintenance.
5. Get professional advice: Before making any investment decisions, it's important to get professional advice from a financial advisor, accountant, or attorney. They can help you understand the tax implications of owning rental properties in the US and provide guidance on how to best structure your investment.
6. Finalize your financing: Finally, you will need to secure financing to purchase rental properties in Columbus, Ohio. There are various financing options available, such as conventional mortgages, investment property loans, and private loans. It's important to choose the option that best fits your financial goals and investment strategy.

By following these steps, you can get started with investing in rental properties in Columbus, Ohio and begin growing your portfolio. I hope this info helped for your new adventure. If you need any other info please feel free to connect.

Hey Paulina, 

Depends actually what you really want. The way I see it out of state investing would be the best for right now. Find a market that really works for you and go all in there. To be honest here in Ohio that I'm a real estate investment agent, we get investors from California all the time looking for more affordable housing to make their investments and also a good market in order to make a profit. In December 2022, Columbus home prices were up 6.4% compared to last year, selling for a median price of $250K. Job growth is strong, unemployment is low, and the cost of living is 5% below the national average in the U.S. Over the next 20–25 years, the area is expected to grow by more than 50%. I hope I helped a bit with providing you info about your first investment.

Hello Katie,

I believe that these rates will become our new standards. I don't see much declining any time soon and definitely not where we were before they start rising. Many buyers got scared when we hit that 7% because it's not only that its a high number but also how fast it went up there. Now, that it got slightly reduced many home buyers and investors are getting back in the game but don't expect any huge change any time soon. My prediction is 5-6% by summer and we'll keep going up in the future (for 3-5 years we'll stay stable) and as we always do, we will adapt to the new normal. 

Hello Brian,

In my opinion, Columbus, OH is BOOMING right now. Home prices here are still really affordable and the metro area is the second-largest in the state. Over the next 20–25 years, the area is expected to grow by more than 50%. Columbus ranks as the 28th-best place for business and careers, in the top 74 for job growth, and the top 55 for education. Job growth is strong, unemployment is low, and the cost of living is 5% below the national average in the U.S. With your budget you can get a pretty good investment property to start your cash flow. The city is full of businesses in every area that bring people from across the nation and the world, in addition to The Ohio State University and jobs associated with the state. In recent tech news, Intel announced that Columbus would be the location of its new factory, which will create over 3,000 new jobs in the area. I hope I helped a bit with providing you info about your next investment. I'm a real estate investment agent here in the area so if you need any other info please feel free to ask.

Hey Anton,

Welcome to bigger pockets! In my opinion, Columbus, OH is the place to be right now. Moved here a while ago and as a person that used to live in Rhode Island and work in Massachusetts, I am pretty familiar with the areas you don't want to invest in MA. With your budget you can get a pretty good investment property to start your cash flow. There are many properties here that are pretty much turnkey or only need cosmetics so with the amount you want to spend for rehab you'll get a pretty nice ARV. Intel and Amazon already have bought big amounts of land for their next projects and downtown Columbus is turning into a Fashion Hub with Abercrombie, Victoria Secret and Express already in the market here. Population is rising and so does the investing real estate business here. It's a great market for a buy and hold deal so I would strongly suggest that you consider Columbus as an investment opportunity. If you need any other info please reach out and I'll be more than happy to help you.

Considering that many homeowners have built significant equity in their homes, the majority of analysts do not anticipate a housing market crash in 2023. The main problem is one of affordability. For first-time buyers, buying a home has become difficult due to high mortgage rates and rising home values. Because a correction's impacts, are less serious and far-reaching than those of a housing market crash.

The housing market will be impacted by the broader economic situation as 2023 begins, and as buyers and sellers continue to be cautious, it is anticipated that there will be less supply and demand overall. Home prices are predicted to drop by about 8% over the course of the year.

The key term this year is affordability when it comes to the real estate market. When investing in real estate this year, it may be a good to consider markets that are more affordable like the central Ohio market.