All Forum Posts by: Cheryl Mack

@David Mateo Camelo Corredor

Have your friend speak with their lawyer before going further. It may not be in her best interest to sell right now, due to divorce laws. Terms of who gets what will be set during the divorce; what she does now can alter that significantly.

Can you lease the place from her for now, rent it out to generate income for you and payments for her, then buy after the dust settles? That's another question for the lawyer.

Hood luck and way to go, helping a friend.

@Julie Williams,

In an area that has theft, but is otherwise desirable, consider a well-placed video surveillance and security system. Many places are less safe than locals believe. How unsafe and how often it is unsafe would be pertinent information to have.

I would not discuss safety, as you could be liable if you pledge the safety of a place. I assume the contract language holds you harmless and they have the option of refusing the venue. I would go the extra mile to make the building secure and let people choose for themselves. Finally, it is always wise to speak with a nearby investor or attorney with investment clients.

Hello Saudi,

My home is in Toledo, OH where I am a licensed real estate agent and property investor.  There are many good reasons to invest in Toledo including: 

Good neighborhoods and Parks

Year-round Sports 

Thriving Arts community

Good jobs with UPS, Amazon warehouse, and (coming soon) new Fiat Chrysler factory

Given those factors, there is a great future for real estate here, especially if you can house hack.  I would love to talk more with you about your goals and how I can help you find the perfect real estate deal.

Cheryl

@JD Perry. Positively! This native Toledoan lives, works in real estate, and manages property, in Toledo.

I appreciate Toledo's strong neighborhoods, the architectural diversity, and property investment opportunities. We are blessed with active arts and sports communities, and several good colleges.

I buy and hold, but many do well with flips and BRRRR here too. The really intrepid folks house hack or do STRs. From a 2014 start, I have increased my portfolio to 17 doors. It's always great to hear that people are interested in investing imy hometown.

Many of my properties were fixers in C or D+ neighborhoods. What market segment do you target when buying?

@Michael P. yes, there is still good inventory in Toledo. But unless the property is a total dog, it sells fast. In better neighborhoods a move-in ready house can sell for over asking price due to competition.

@Patrick Froehlich: I moved back to my hometown Toledo, Ohio at age 61 to start a side gig buying real estate. I began with an auction property and a HUD house bought in my self directed IRA, and learned what I needed to know as I went. It has enabled me to retire without fear of life in penury.

I buy, rehab, and hold older single family homes in C neighborhoods. I now have 11 doors, plus 7 doors in another group, which is a comfortable number to manage. It enabl They cash flow well for me . I'm glad I took the plunge and invested in my hometown.

@Mitchell Cochell

I certainly will do that. Can you pm me with your desired email?

Good morning Stephen!  I am an investor and realtor in northwest Ohio.  I would enjoy joining you in a cup of virtual coffee and chat about the Toledo market.  

I am also President of Toledo Property Investors Network, a dynamic group of experienced investors and learners.  Topic of our May 5th meeting : When a Deal is Not a Deal.  I invite you to all of our online meetings; 1st Tuesday evening-main meeting, 3rd Wednesday at 830am.  If you PM me with your email, I will send you links to the meetings held on Zoom.

Happy investing!

I recommend Laplante Real Estate.  They have an active maintenance staff and their knowledgeable brokers have property management experience.  (In the interest of disclosure, I am a real estate and leasing agent with Laplante.)   If you want to explore further, pm me; I'll introduce you to Mike who can answer all your questions.

@Chad Ellerbrock what streets or neighborhoods in Toledo are you calling F class? I know there are some here. I also know plenty of people who would call everything in 43608 F class. But I successfully buy and hold there. However, the point about deferred maintenance is valid. You have to take it case by case; some houses have worn better than others. In the low end neighborhoods you recoup sunk rehab costs by renting for a time, and most of the time you will need vigilant rental management.