eg37
German Village/Schumacher Place
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Can anyone recommend a good, reliable, honest, and not too “schmoozy†realtor who specializes in investment property? Been looking for awhile with little success and I think it would be good to talk with/work with someone who really focuses in that area and is personally involved with real estate investing (primarily looking to buy in and around the downtown neighborhoods.)
Thanks!
VicVillage Guy
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I just sent you a private message.
Walker
The KLD / Downtown
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I pretty regularly check into real estate listings in my neighborhood via Trulia, just to look at an overview of what's out there. I imagine most of the opportunities require some inspection to find out what's a possible good investment, and what's a money pit, but I've seen plenty around that seems to lean toward the former. If I had some spare cash burning a hole in my pocket, I'd be buying and fixing up homes in this area right away.
But then again, these are 10 to 15 to 20 year investments. Not sure if that's what you have in mind, or a more short term "flipping" opportunity, which I'm not even sure really exists anywhere anymore in significant quantities.
eg37
German Village/Schumacher Place
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Walker wrote >>
I pretty regularly check into real estate listings in my neighborhood via Trulia, just to look at an overview of what's out there. I imagine most of the opportunities require some inspection to find out what's a possible good investment, and what's a money pit, but I've seen plenty around that seems to lean toward the former. If I had some spare cash burning a hole in my pocket, I'd be buying and fixing up homes in this area right away.
But then again, these are 10 to 15 to 20 year investments. Not sure if that's what you have in mind, or a more short term "flipping" opportunity, which I'm not even sure really exists anywhere anymore in significant quantities.
Yep I've looked at Trulia a bit (and I'm always on Zillow), but I've never really looked that much at KLD because I'm not overly familiar with the area. Is it a good location to own rentals? We're looking for long-term investments where we can get a good solid property with great rental potential (and solid prospective renters) that will hold value over time. No flipping for us!
Walker
The KLD / Downtown
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As someone who doesn't own rentals, I'm not totally sure.
But as someone familiar with the lack of student housing next door at Columbus State, the largest community college in the state, (who is continue to break enrollment records every quarter), I have to imagine that renting out a 4-5 bedroom home a half mile from school to a group of CSCC students/roommates wouldn't be too hard to come by.
big Red
Upper Arlington
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Walker wrote >>
I pretty regularly check into real estate listings in my neighborhood via Trulia, just to look at an overview of what's out there. I imagine most of the opportunities require some inspection to find out what's a possible good investment, and what's a money pit, but I've seen plenty around that seems to lean toward the former. If I had some spare cash burning a hole in my pocket, I'd be buying and fixing up homes in this area right away.
But then again, these are 10 to 15 to 20 year investments. Not sure if that's what you have in mind, or a more short term "flipping" opportunity, which I'm not even sure really exists anywhere anymore in significant quantities.
I think by and large the days of "flipping" are behind us, unless you're able to get lucky on a short sale or foreclosure. There are certainly some emerging areas in Columbus where if you're willing to put the money into, and be patient for 10 years, you stand the chance of solid returns. I agree with you that the timeline on many of these is at least 1-2 decades long.
As long as banks are requiring downpayments of 15-25% for homes, rentals are going to remain very strong. American's just don't have that kind of money laying around. But there are plenty of people whose incomes will increase and yet they can afford a $2000/month rent, but can't afford a house with a mortgage in that range b.c they can't afford the down payment.
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