How is Toledo, OH Market Today?

Question

Hey!!

So I am a new investor in Toledo, OH. I am just curious about what locals and/or seasoned investor think about it? What title company would you recommend that is "investor" friendly? Any boots on the ground, contractors, real estate agents that you have connected with? Spread some wisdom! :p

Thanks in advance!!

Michael P. · Answer

I think Toledo is on the right track, here are some recent snippets: Finishing touches being put on massive new Amazon center in Rossford, Company leaders say it will create at least 1,000 full time jobs Exercise equipment maker Peloton to build its first U.S. factory near Toledo. Exercise equipment maker Peloton will create 2,174 jobs as part of its $400 million investment in Wood County, near Toledo. Fiat Chrysler proposes new $23M vehicle customization facility in Toledo. A new agreement between the city of Toledo and Fiat Chrysler Automobiles could bring hundreds of jobs and a new 250,000 square foot facility to support Jeep production in the area. First Solar to build 3rd plant, add 500 jobs. First Solar Inc. said it will invest $680 million to build a third factory in the Toledo area by 2023, doubling its production capacity and creating 500 jobs. Officials praise $1 billion iron plant. Iron briquettes made at the new East Toledo Direct Reduction Plant will be used by the company, and other customers, to make premium steel products. Toledo Ranked No. 1 for New Business Investment. Toledo has been named number one in the nation among mid-sized cities for new business investment by Site Selection Magazine. There are approximately $2.2 billion worth of projects currently underway, or recently completed, that are expected to create nearly 3,500 new permanent jobs and 1,079 new residential units. Toledo ranks among top 100 in WalletHub’s ‘2021 Best Large Cities to Start a Business’. Toledo earned high marks for cost of living, business environment and access to resources. Toledo is America's second most-improved city for park access, study says. Metroparks Toledo is named America's No. 1 park district for 2020 among large cities.

Andrew Fidler · Answer

@Shaqilia Palmer - I recommend you read through the forums, tons of information up here!Toledo’s market is super hot, same as the rest of the country so no surprise there. If you have the cash on hand to “dollar cost average” your portfolio if the market falls a bit over the coming years then by all means buy quality properties in quality areas. (These will perform regardless of the market)Beware wholesalers these days, I had one just today message me a “super deal” for a $180k property in a solid $100k area. In eleven years and near 200 deals I can count my wholesaler purchases on one hand…most know nothing of the area they are peddling and are hoping to make a quick sale. Reach out to your investment associations- Toledo REIA and Toledo PIN. These will help you learn the market. I prefer Greater Metro Title for closings but it’s because we have a solid relationship there so closings are simple. Be very careful if you only have cash for one deal, it’s not time for amazing returns on an investment but there are solid returns still for quality. Hope this helps!

Nathaniel Walker · Answer

Welcome. I am currently an investor in Toledo winding down after over 20 years flipping. Let me know how I can help.

Bonnie Low · Answer

@Shaqilia Palmer I'm working with @Stephen Brown from LaPlante Realty. We're thinking about putting together a Toledo REIA meetup the week of August 23rd - very informal event. PM me if you're interested in attending.

Yoann Dorat · Answer

Hi @Shaqilia Palmer I'm in Detroit and my company expanded to Toledo a few months ago, it's been a great market so far! Send me a DM I'll be happy to share some local resources with you

Isaias Velasquez · Answer

@Andrew Fidler Hey, sorry to hear that you've had a pretty bad history dealing with wholesalers in Toledo. Like everybody here, 99% of them send deals that make NO SENSE. However, I really believe I am the 1% of wholesalers that can send you over deals that make sense. Not trying to praise myself or say have I deals coming out the wahzoo, but I do believe I'm better than most small wholesalers. It's a very low bar! Haha I I only do present deals that actually have meat on the bones. I have 4 closings this month and the other investors jumped on them QUICK....because... they made sense. If you want me to send you deals in the future, reach out to me.

Stephen Brown · Answer

Hey Shaqilia! We've got a lot of folks in the area that can help you out! For title companies I'd recommend Greater Metro or First American! I'll message you for more!