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Looking to Network in Toledo!
Hello!
My name is Andrew and I'm an out of state investor. I'm looking to get into the Toledo market, focusing specifically on duplexes. I live in Fort Worth and I am looking to make connections with other investors and service providers. I'd love to build a network with local investors and other out of state investors to learn from your experiences.
I'm also an open book, so if you have any questions about me/my experience, feel free to ask!
I look forward to hearing from you,
Andrew G.
Hello Andrew! Welcome to Toledo. You'll find yourself in a wonderful market here. We have plenty of investors willing to help. Multifamily investing is popular here but you can also do very well in single family.
Hi Andrew. My business partner and I are located in the Southern California area and are just getting setup to purchase in Toledo. We are also looking at multi-family (2-4) and there is an amazing amount available for a December market. That said, there are quite a few that don't seem to make financial sense.
Whether it's low interest rates or more people have discovered the hidden gem of Toledo, good deals are much harder to find now, but certainly still exist. There are a good amount of duplexes sitting on the MLS that are overpriced but the sellers are holding out for OOS buyers instead of dropping the price.
Originally posted by @Michael P.:
Whether it's low interest rates or more people have discovered the hidden gem of Toledo, good deals are much harder to find now, but certainly still exist. There are a good amount of duplexes sitting on the MLS that are overpriced but the sellers are holding out for OOS buyers instead of dropping the price.
Out of curiosity, what do you think makes the duplexes overpriced? I've seen a plethora of decent quality duplexes that range from $50-70k that seem like good candidates to produce $500-650 month per door.
Originally posted by @Eric DeVoe:
Hi Andrew. My business partner and I are located in the Southern California area and are just getting setup to purchase in Toledo. We are also looking at multi-family (2-4) and there is an amazing amount available for a December market. That said, there are quite a few that don't seem to make financial sense.
Awesome! I agree, there seem to be a handful that make sense, and more that look like a lot of rehab is needed. Building contacts for RE Agents, Contractors...etc. seems to be difficult. Looking in the mid-low price range might not help an agent be as willing to help because there's not a whole lot of meat on the bone.
Originally posted by @Andrew Gibeaut:
Originally posted by @Michael P.:
Whether it's low interest rates or more people have discovered the hidden gem of Toledo, good deals are much harder to find now, but certainly still exist. There are a good amount of duplexes sitting on the MLS that are overpriced but the sellers are holding out for OOS buyers instead of dropping the price.
Out of curiosity, what do you think makes the duplexes overpriced? I've seen a plethora of decent quality duplexes that range from $50-70k that seem like good candidates to produce $500-650 month per door.
I think those are in areas that are dead and dying, drive up and down the street on google maps, are there a lot of boarded up houses, a lot of vacant lots were houses were bulldozed by the city? Maybe/maybe not. Feel free to email me one or two if I'm missing something. Now if you are talking about east of the river, only local hands on investors go there, not OOS investors.
Hey There @Andrew Gibeaut and @Eric DeVoe I am located here in Toledo and can definitely help assist with your process of emerging into the Toledo Market!
When reviewing Toledo properties you will discover that the Toledo market is different from all others, not to mention, extremely low purchase prices on fixer uppers as compared to their retail value, Toledo is full of promises. The need for quality residential and commercial space has become astonishing, making the right investment in Toledo is sometimes not easy with so many different projects to choose from. Whether it is Single-Family homes, Multi-Family homes, mixed use or any other type of property, with such a high demand in Toledo, it rarely stays on the market for a great length of time.
Some reasons why so many people are flocking to invest in this cosmopolitan community would be:
- Low inflation
- One of the safest cities in Ohio
- Low cost of living
- Growing metropolitan
Toledo Investment Properties provide investors with a unique comprehensive platform that makes Toledo a logical place to invest in. The area is always expanding the business district as well as downtown, from Access to low cost regional talent, competitive real estate cost, strong work ethics and excellent facilities for sports, shopping, leisure and healthcare. All-In-All, Toledo Means Business!
I sent you a colleague request, lets schedule a time to hop on a call and see how I can assist you, 2021 is going to be a great year!
@Andrew Gibeaut@Andrew Gibeaut@Andrew GibeautToledo is an interesting town, with many blue collar and union jobs focused on the auto manufacturing industry and close ties to Detroit. There are great opportunities for investors in Toledo but I highly recommend working with an agent who is boots on the ground and actively investing in the market. Zip codes aren't always a great barometer of value in Toledo, although the suburbs (Sylvania, Whitehouse, Monclova, Perrysburg, Waterville) have demonstrated growth and appreciation. @Andrew Gibeaut
I think that, like most areas, investing here in Toledo has it's pros and cons, depending on your goals. If you only care about cash flow, then most parts of Toledo can work for you. If you want appreciation as well, you have to be much more selective. Many of the duplexes that you are seeing for under $50k are either 1) in a less-desirable/lower grade area or 2) need a lot of work done to them. I agree with @Christopher Abele that you really want someone here that can view properties in person. A house can have great pictures online, but be next to a dozen boarded up homes. If you look at some older posts about Toledo, you will see areas that a large percentage of locals choose to invest in.
Hello Andrew -
I maintain residence and properties in Toledo and a personal residence in the DFW area. I am in Toledo one 7 to 14 days per month.
I recommend you visit. The flights from DFW roundtrip if you plan a little in advance is under $100.
Hello @Andrew Gibeaut
My wife Tame and I are also long distance investors working in the Toledo market. We have based out of New Hampshire and really like what we have seen in the Ohio markets. We can not agree more with the others above about making sure you have people on the ground. We have been working very hard to vet a team of locals with personal knowledge about the Toledo market. It is very much like doing due diligence on a house, once we have people we can trust in Toledo we will leverage their skills to make solid deals. We hope we get the chance to work with you. Good hunting to you!
Just purchased our first MF property (remotely) in Toledo and would be happy to meet up and discuss the area. The metro area has multiple sub-neighborhoods and property values can vary considerably in a small radius. As I'm not looking to BRRR, we have been focusing our analysis more towards the West side where we can still find a +1% property that is nearly turnkey.
Originally posted by @Eric DeVoe:
Just purchased our first MF property (remotely) in Toledo and would be happy to meet up and discuss the area. The metro area has multiple sub-neighborhoods and property values can vary considerably in a small radius. As I'm not looking to BRRR, we have been focusing our analysis more towards the West side where we can still find a +1% property that is nearly turnkey.
Way to go Eric! Stick to the west of Upton Avenue and you should do alright (in my opinion although we have plenty of investors that go to the east of Upton.) You'll have a bit of appreciation with these cash flowing properties and they're not as old as the ones on the east of Upton. Plus the tenant base is nicer.
Hello -
I maintain residence and properties in Toledo and a personal residence in the your area. I am in Toledo 7 to 14 days per month for business. I am not a property manager but has assisted other out of state investors with some custodial duties.