Hi everyone! I'm new to real estate investing and have been trying to learn about the market in Toledo. I'm an out of state investor, so I'm not very familiar with the area. I was wondering if anyone had suggestions for what are good areas to target and which areas I should avoid when searching for my first rental property in Toledo? My investment focus will be on townhomes/condos and also multi-family properties.
Investor · Toledo, OH · Member since 2020 · 88 posts · 101 votes
4y
I’d definitely spend some time in the area first. Properties can be less expensive than other parts of the country BUT that doesn’t always mean that it’s a good investment if rents don’t support it. You also need to educate yourself on the lead paint ordinance and potential impact and familiarize yourself with the nuances of the neighborhoods. A good realtor can help.
Hi Christopher, it is a pleasure to meet you. Great name, by the way. I have been there briefly, but haven't spent much time there. I'm excited to start investing and it looks like it may be a great up and coming place to invest, so I was hoping to learn more about it.
Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
4y
Nobody invests in condos/townhouses in Toledo that I know of. Its mostly either single family or small multi-family. The very abbreviated answer is invest in 43612, 43613, 43614. Avoid 43605, 43608, 43609.
Investor · Toledo, OH · Member since 2020 · 88 posts · 101 votes
4y
I’d definitely spend some time in the area first. Properties can be less expensive than other parts of the country BUT that doesn’t always mean that it’s a good investment if rents don’t support it. You also need to educate yourself on the lead paint ordinance and potential impact and familiarize yourself with the nuances of the neighborhoods. A good realtor can help.