Toledo Ohio Rental Investing

[Matthew H Lohens]

I'm looking to invest in the Toledo market, specifically 43608. 

I plan on dipping my toe in first with a $25K-$45K rental at 30% down. If things work out, I will increase my investment in 2021. My strategy is buy and hold. I only care about rental income; I don't care about appreciation.

I've created a python program that performs rental real estate analysis on large data set. It takes in all the MLS listings for a particular zip code, processes each listing and then sorts them by the best ROIs. It allows me to quickly and efficiently find favorable deals (by the numbers). I've been finding some attractive investments, but I am hearing a lot of negative feedback about investing in a low income area like this.

I would like to know a little bit more about this area. If you've invested in this area, what has you're experience been?

Thank you!

[Andrew Fidler]

@Matthew H Lohens- are you local to Toledo and self managing? 

I would get a team together before I would buy anything.

My findings have been the online data for 43608 is sketchy at best, I have been operating there for over a decade now and a few hundred properties but I stay in the top 20% of the zip code...and that area changes by the block from nice to ok to OMG to “glad I am carrying two firearms today”. 

You do have the correct approach that it’s a cash flow king over there...just avoid the wholesalers and inexperienced realtors who don’t know the area.

Getting a purchase under contract is easy. There are properties for $10k that arent worth a buck and $30k properties that should be worth $10k.  Be very careful is my advice.