All Forum Posts by: Andrew Fidler

Hello Tammy, welcome to BP!

I am pretty experienced with S8 procedures, all of that experience is with our Toledo LMH team.

Are you leasing with a property manager in town? They should know the process super well and have their own contacts with leaders and managers to be able to ensure things run smoothly.

There is a weekly open-office time for residents to be able to sit down with their case manager (I think it's Weds, but I haven't seen the time printed out recently so it may have changed. Every voicemail in LMH seems to detail when this time is however!).

The experience of the housing provider is going to be the real challenge to getting you a set of keys to move in with...they have to qualify, pass inspection, sign a bunch of paperwork, and finally lease up and send everything into LMH. 

Reach out to us here if you need more assistance!

@Jonah Slove

I peaked at around 40 properties in 43608.

I have 1 final property as of the writing of this post and the property is under contract to close this week.

So, the best answer I can give it the zip code served its purpose to create income and appreciation for a decade. Factor that with a total-loss fire, half a dozen insurance claims for smaller fires, easily a hundred evictions, a thousand months of uncollected rent, and a shooting in 2010 that is as close to wearing handcuffs as I desire.

If you live in Toledo and are ready to holster up and manage your own portfolio then 43608 has some real potential. 

If you are an out of town investor then I fear investments in this neighborhood (and those like it, Toledo has several) will result in an overall portfolio with higher-than expected wear-and-tear, lower resident financial stability directly translating to shorter times between re-leasing events, and I am curious how much higher the values can go (From $60k pre-2009 to $8k when I bough and I am now steadily see $60k listings again...even a $90k one!).

43608 (and the similar single-digit zip codes) fall into the 80/20 rule...stay out of 80% of them and the quality changes with every block. Locals have to drive the neighborhood in order to stay current on the changes and truly it seems that you have to own something profitable before you will go against the norm and buy more. (On Maple Street only about 3 blocks long I owned 12 houses...once I bought into the street I found value and became known as a cash buyer who maintained their properties so my phone rang and I shook hands on the street to keep it ringing.)

Always check ARIES the Lucas County Auditor site. If you are lucky you are buying a mom-and-pop landlord property that has been owned and operated for a long time. If you are not then you will see a ~$10k foreclosure sale, a resale less than a year later to an unwitting out of state investor for $50k, and the current attempt to sell it for $58k to get the current poor bastard out of the deal and cover the cost of the sale.

Be very wary of becoming the next guy holding the hot potato when the economic music stops...I see rent rates have stopped rising and our local MLS shows an increasing number of days on market so I feel the music is slowing.

Hope this helps!

@Jonah Slove - just sent you a pm. Happy to discuss Toledo anytime! 

Since this article I still see opportunity in the market and am still buying myself. 

@Dave Poeppelmeier is my go to guy for 43607. 

 I'm still buying, hell I am still filing tax value appeals so they are below the friggin value there. 

You can find the deals, just have to be connected to the locals and walk into those units reeking of cat piss and say "Smell's like a deal, baby".

@Engelo Rumora no lie. I don't mind the Aussies in town but those Clevelander's are overpaid, over sexed, and over here! :)

Oh and that's all my key words contain, other than keeping an eye on "LaPlante". Toledo has been all the income I will need, just takes a decade of re-investing the income before you are at a point of asking how much monthly income is enough. It helps to have started when $15k got you $700/mo in rent.

@Michael P. - just noticed the Brooke Park on your header...you own how many on that gem of a street here in Toledo?

@Noah Bacon

Hi Noah, I am singularly focused on Toledo, Ohio so that's the key word that keeps getting hits.

The only repeat notification I was receiving was James Wise. He has an accomplished posting machine created so it may be of use to newbies but isn't of interest for those of us already successful and expert in our chosen area of business.

I think I have him successfully muted, mission accomplished!

I'm not sure how BP would like to help users limit their notification traffic, perhaps a foot note on the notification email to the extent of "Gettings too many of these? You can customize your settings and mute specific users, click here to learn more" may be of value to BP membership.

Hey there fellow Toledoians, if you are like me (a ~15 yr contributor to Bigger Pockets), you may have been inundated with spam from a few chatter boxes who like to post on BP as a drip campaign to drive business. 

Did you know you can MUTE that stuff? 

Go to your notifications and where you see the same person causing notifications you click the three dots next to their notification and MUTE them.

Beyond excited to be able to sort BP conversation from sales pitches.