All Forum Posts by: Account Closed

Unfortunately $30K down will not buy a nice shed in NYC—even across the river in NJ is crazy. I’d encourage you to look out of state, even though you aren’t planning on leaving. With your income and plan, you are better suited for a Midwest-type market. Indianapolis, Columbus, OKC, etc. And you are right re: tenant laws in NYC—not a favorable market for someone looking to sniff any kind of cash flow. 

Some people notified me that the link in my last post didn't work. Try this, Central Ohio home prices expected to continue climbing.

Just read this article in today's Columbus Dispatch. Economists are predicting that most US housing markets will begin to level off in the coming year, but Columbus is NOT one of them. 

The article discusses how, "There are so many qualified buyers that they compete for homes, pushing up prices and pushing down inventory." The chief economist quoted in this article says that Columbus continues to remain one of the strongest housing markets because of its population and job growth along with its affordability, and adds that, “Columbus homes may seem expensive for people living here, but it’s very affordable compared to other markets...”

As a resident and investor, I found this article extremely encouraging, and if you are a RE professional in any capacity within this market, or if you're considering jumping into the Columbus market, you should be encouraged too. One could argue this is irrelevant to REI and speaks specifically to home buyers, but Columbus' lack of inventory and competition for housing says otherwise. "At the end of 2019, 3,886 central Ohio homes were on the market, half the number of listings just four years earlier." There is clearly a housing shortage in the midst of year over year population growth. And if you can't buy, you've got to rent!

If it's not Franklin County, you stand a better chance for sure. 

Hey @Bryan Ignaszewski, I use NorthWest Title for all of my and my client's closings on investments. They have been around a long time and are excellent to work with. As for Sheriff sales, just know that now that everything is done online, the deals are nowhere near as good as they used to be when you could bid in person. You might find yourself paying retail prices. Good luck!

@Joshua Myers I would be selective with Franklinton. It is a large geographical area and I personally am not bullish on all parts. I tend to buy where stable industry plants roots. The purchase we made is about 4 tenths of a mile from the new CoverMyMeds HQ. In addition, large companies are now being approved to spend heavily in that area. But again, I would be selective and stay as close to Mt. Carmel and CMM HQ as possible. 

@Hai Loc I feel like they try to make efforts to improve Hilltop, but it comes with mixed results. In my personal opinion, I would be shocked to see it turn in our lifetime, but in fairness, I'm sure the generation before us said the same thing about Franklinton lol.

@Hai Loc Schumacher Place was just like that several years ago. Things can change pretty quickly.

@Art Mimnaugh Totally agree. I know the jobs are less for a huge facility (mainly bc of server rooms, etc.), but having major brands associating themselves with your market does more than just stroke the ego, it paves the way for other large companies. You are correct though, I wouldn't want to be misleading saying FB is bringing "hundreds" of jobs or anything, but I do think the size plays a big roll as Columbus has offered a lot of incentives for big companies to jump into this market. And it's great for everyone when your city is willing to play ball! Thanks for commenting!

You've probably heard that Columbus, OH is a city to keep your eye on. You might have also heard that it is "up-and-coming." I'm here to tell you, it's already up. In what is already becoming a hyper-competitive market, Columbus is welcoming some of the biggest tech corporations and other major brands and is retaining its talent. Columbus already has the headquarters of national brands like Nationwide, Cardinal Health, Big Lots, L Brands, CoverMyMeds, Wendy's, just to name a few. And Columbus can thank The Ohio State University for providing a steady stream of the talent that has made those companies thrive. And for the first time, recent graduates are beginning to heavily consider staying in Columbus after graduation. Why? The job market is steadily growing year after year, the cost of living is far more reasonable than the likes of a Chicago or Manhattan, and because of Columbus' central location, travelling to those major cities is quite easy. But this post is about why to like Columbus, OH even more in addition to those above.

In 2017, Amazon entered the Columbus market and pumped $1.1B into facilities here. Later that year, Facebook followed suit by purchasing 415 acres to build a $750M data center (which opened this week). Then in November (2019), Google got in on the fun and broke ground on a $600M data center that is scheduled for completion in 2021. And if that isn't enough for you, just yesterday, Facebook announced an expansion that would add two more buildings to it's campus. That expansion will add 1M square feet to bring Facebook a total of 2.5M square feet in the Columbus market. 

When I graduated high school, I couldn't wait to leave Columbus. It was small, not a lot of action, the weather is a mystery (I wore shorts last week in 65 degree weather, and as I write this today it's snowing). What I'm trying to communicate is that Columbus is no longer some small cow-town with potential. It's a city that I can't imagine leaving now (even with the weather systems). It's a city that has garnered the attention of major industry, and it's a city to, not just "keep your eye on," but to dig into. Love my city!