Toledo area market...what are you seeing?

[Eric Puffenberger]

Attention northwest Ohio investors...are you still finding deals in NWO and the greater Toledo area? I am seeing a lot of investment properties come to the market that are selling for 50-75% more expensive than they were just a few years ago (and they are not necessarily in great shape).  What is interesting is that most of these properties still easily pass the 1% rule and work out well when you completely analyze the deal. 

What are you all seeing? 

[Michael P.]

I'm selling a bunch since prices have gone up so much. The funny thing is what I'm selling still beats the 1% rule. For example purchased a duplex 2 years ago for 75k. Did minor updates and rented each unit for 750. Selling now for 130k, so I make a nice profit and it still beats the 1% rule for the buyer. Overall the plan is to sell off the C class holdings the keep/invest more in B & A class. That being said I've bought 4 deals this year as well. Still plenty of deals to be found through networking, wholesalers, sheriffs auctions, or just making all cash offers on MLS listings.