All Forum Posts by: Anthony Roberts

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything. 

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you. 

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market.  I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?  

Thanks,

Ant. 

Thanks for the insight.  I am managing these myself in the short term to learn process(es) 1st hand, to ensure wants vs. needs in a PM to temper my expectations when I do eventually turnover to a professional PM. 

Hi Ant,

As MP mentioned.

Hire good property management.

You have a few solid options in town.

If you manage yourself, you will save on fee's but IMO it's like tripping over dollars to pick up pennies.

Investors should focus on the next deal and scaling their portfolio while not being bogged down with minutia.

And there is a tonne of "minutia" when it comes to property management.

Sure, you can manage 2-3 or 4 properties.

Managing 10+ is a different story and a full time job almost.

Wishing you much success

You don’t want mediocre tenants they will destroy your investment. Hire a good property manager like @Jackelyn Lee if you need assistance.