Toledo, OH

[Shane Miller]

We are new to real estate investing and are considering the Toledo, OH market. Does anyone know about how long it takes to rent in this market? We are looking at properties in the 43612 zip.

[Adam A.]

I think the Toledo market will blossom in 2018 and 2019. I get offers every week to buy houses during inspection but they are not in my desirable area.

The math just doesn't add up!! I believe they'll be thousands of houses not in compliance by July 1, 2018. These houses will be either handed to the Landbank, foreclosed or sold cheap.   The Landbank will either demolish them or sell them cheap. Every couple of months I notice that the Landbank dumps a bunch of them on the market but in the last 6 months they were more expensive than usual. 

@Engelo Rumora I know a local charity that would love to take them without credit to the donor. But I think being public encourages other to donate. 

[Engelo Rumora]

Originally posted by @Adam A.:

I think the Toledo market will blossom in 2018 and 2019. I get offers every week to buy houses during inspection but they are not in my desirable area.

The math just doesn't add up!! I believe they'll be thousands of houses not in compliance by July 1, 2018. These houses will be either handed to the Landbank, foreclosed or sold cheap.   The Landbank will either demolish them or sell them cheap. Every couple of months I notice that the Landbank dumps a bunch of them on the market but in the last 6 months they were more expensive than usual. 

@Engelo Rumora I know a local charity that would love to take them without credit to the donor. But I think being public encourages other to donate. 

Let's do coffee asap mate

We are buying big (Need 250 this year)

Shoot me an email with your availability please

[Jennifer Beavers]

Quote from @Chris Sia:

Hi Everyone,

I've been reading your posts.

Thanks for sharing. I'm a newbie and have been doing extensive reading but still a bit chicken to get started. Can someone recommend a good property manager who has experience working with oversea investor? Thanks in advance.

Chris

 My recommendation would be Mike Mocek. He is a property manager and real estate agent that is very seasoned with the investor market in toledo. I am a toledo native.

[Jennifer Beavers]

Quote from @Wade Schwendemann:

@Shane Miller

I too am new to investing, and in the Toledo area. Best of luck to you!

I am a Toledo Native and would love to help with your financing needs! 

[Christopher Abele]

@Jennifer Beavers am I reading this wrong or did you respond to posts from over 5 years ago?

[Engelo Rumora]

Quote from @Christopher Abele:

@Jennifer Beavers am I reading this wrong or did you respond to posts from over 5 years ago?

 Better late than never lol

[Christopher Abele]

Quote from @Engelo Rumora:

Quote from @Christopher Abele:

@Jennifer Beavers am I reading this wrong or did you respond to posts from over 5 years ago?

 Better late than never lol

Chris Sia can finally begin investing now that he has a lead on a property manager and realtor. :)

[Michael P.]

Quote from @Engelo Rumora:

Quote from @Christopher Abele:

@Jennifer Beavers am I reading this wrong or did you respond to posts from over 5 years ago?

 Better late than never lol

[Engelo Rumora]

Quote from @Michael P.:

Quote from @Engelo Rumora:

Quote from @Christopher Abele:

@Jennifer Beavers am I reading this wrong or did you respond to posts from over 5 years ago?

 Better late than never lol

haha

Too funny lol

[Quinton Washington]

Quote from @Ryan Pyle:

I have been a full time landlord in Toledo for 10 years. 43612 is going downhill. It is becoming the next 43608. With that said, Toledo is a very strong rental market right now. My vacancy rate for the last couple of years has been under 3%...that includes bad debt. But I self-manage my properties. My guess is it will be a bit higher with a property manager. This year I have been aggressive about raising rents as well and have had no drop in vacancy because of it.

But again, I urge you to use caution if you are buying in 43612. Values have been steadily falling in that zip code since the crash and they haven't leveled off. It used to be a mostly owner-occupant area, but it is now a mostly rental area. In Toledo, those trends don't tend to reverse. Therefore I would predict that 43612 properties will probably head the way of 43608, meaning they will eventually be worth maybe $15k at best in perfect condition.

 So my wife family is from that area is there any that could be done maybe new builds, more entertainment?