All Forum Posts by: Dave Poeppelmeier

I'm interested in making a move into section 8 rental properties and ive been looking throughout ohio and a few other areas which will be remote from me. Do property managers charge different fees for section 8 properties? Will the property managers be present for the inspection or is this something that they generally wont do?

NO, I have purchased and sold 100s and 100s ,AND 100s and have done a 1k of move in and outs with sec 8 , all the same. Good for using a PM, I see so many that try and go it alone, it usually never ends well. PM fee is meaningless, about 70- 90 bux a month on a SF, let them handle all.

Good luck

Bob,

What property management company would you recommend in Toledo? Thanks!

Kevin

@Kevin Sears the company I work with, LaPlante Real Estate, we are a PM in Toledo that works mostly with out of town investors. Let me know if you need anything.

0 Votes

Cincinnati, Ohio

Starting Out

Post: Out of state investing for Californians

Dave Poeppelmeier

Posted March 26, 2024 16:26

Realtor
Maumee, OH
Posts 479
Votes 711

Quote from @Mike Paolucci:

Quote from @Ashni Modi:

I am starting out my journey in real estate investing. I live in orange county, California where there is basically nothing under $1 million. Is investing in California still viable? Say if I have 100K available for downpayment, what are some markets for out of state investing? I would like to have a good balance of positive cash flow as well as appreciation. I have heard of Midwest but any recommendations for which cities to look into?

Hey @Ashni Modi.

I'm originally from San Francisco, CA and started investing in 2021. It was pretty hard to find properties where the numbers and landlord laws made sense which is what ultimately led me to investing in Columbus, OH. There's also other markets like Cleveland, Cincinnati, Dayton, Toledo that are also good markets to invest in.

The numbers and landlord laws out here made sense then, and they still do today. I've been able to get a healthy combination of both cashflow and appreciation from all my properties after a little TLC.

When it comes to investing in CA, be prepared for what is coming on the Nov ballot. It's called the "Justice for Renters Act." It's basically another reason why I choose not to be a landlord in CA. Here's the link --> "Justice for Renters Act"

Happy to share my experiences. Good luck on your REI journey and property search!!

Good Lord... can't say anyone should be surprised. In Ohio there's no rent control, and in Toledo it's pretty simple: you don't pay your rent, you don't stay in your property. It's roughly 6 weeks from 3-day notice to sheriffs on the front step. I will echo everyone's comments: Find a good PM, stay in C class neighborhoods, know that it's a long game, and that you're going to be writing a personal check now and then if something big goes wrong. Best of luck to you!

1 Vote

Toledo Real Estate Forum

Post: Muting the spam on Bigger Pockets

Dave Poeppelmeier

Posted March 20, 2024 13:24

Realtor
Maumee, OH
Posts 479
Votes 711

Quote from @Engelo Rumora:

Quote from @Victor Soni:

Quote from @Engelo Rumora:

Quote from @Jay Hinrichs:

Quote from @Engelo Rumora:

Quote from @Jay Hinrichs:

Quote from @Ryan Pyle:

Bye bye Mr. Wise!

sub to guys pace and a few others.. .

Just in Orlando mate with Stamper.

Spoke about you fondly and how you saved my A$$ lol

Ended up and Justin's place till 4am.

Fun times and cool cat.

Also, Mihran pinged me via email and I said you suck and to not work with you hehe

I'm jealous, you throwing money around like candy.

What about me, it isn't fair hehe - What About Me

STamper is one cool dude.. Zombie flipper.. did you hit the oyster place he likes.

U know where to find me.. :)

We didn’t mate. Got into town late. Had podcast with Rod Khleif and a few meetings in Sarasota. I’ll ask him now about it

Guys, kinda off topic, but any of you Toledoans know of a good local lender that understands investment rentals refinance?

I would like to refinance all my properties, currently they have zero debt, and I want to use that money to buy more properties.

I live in Holland, Ohio, so I’m in your guys backyard.

… And if you guys have any deals that you would like to pass along, feel free to shoot them my way.

Thanks,

Victor

Croghan is local and does portfolio refinancing. Had a few commercial loans with them over the years 👍

I will second Croghan Colonial. Give Julie Spencer a call: 419-794-9399. I only buy in commercial loans anymore and she has done refinances for me as well.

0 Votes

Toledo, Ohio

Market Trends & Data

Post: Is this a good market to invest in?

Dave Poeppelmeier

Posted March 20, 2024 13:17

Realtor
Maumee, OH
Posts 479
Votes 711

Quote from @Michael P.:

New York
Los Angeles
Chicago
Houston
Phoenix
Philadelphia
San Antonio
San Diego
Dallas
Austin
Jacksonville
San Jose
Fort Worth
Columbus
Charlotte
Indianapolis
San Francisco
Seattle
Denver
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Boston
Portland
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I love seeing who gets the joke and who doesn't.

1 Vote

Classifieds

Post: Will a D-Class 4-Plex in Cleveland make you Money?

Dave Poeppelmeier

Posted March 18, 2024 08:24

Realtor
Maumee, OH
Posts 479
Votes 711

Quote from @Russell Brazil:

Quote from @Andrew Fidler:

@Moderators How do we "Unfollow" or "Unsubscibe" so we don't get multiple alerts for the daily spam post listing every city in Ohio? Do we have to simply turn off our notifications by town so we are unplugged from BP?

It's getting to that point for me.

Change your keyword alerts. You have them turned on for Classified section. Turn that option off.

Click on the 3 dots on the right of the notification, you can choose to Mute User there.

2 Votes

Cleveland, Ohio

Multi-Family and Apartment Investing

Post: 1 house or 2 units

Dave Poeppelmeier

Posted February 20, 2024 14:24

Realtor
Maumee, OH
Posts 479
Votes 711

It all depends on what the Student Housing environment is around your school. Off campus housing is sought after because you have more space and it's not a dorm. To essentially re-create a dorm space would be a big turnoff, and it will not sell in the future to anyone that isn't trying to do Student Housing. I would find out what rents for a 5/2 would be vs the 2 2/1 units. If there's not a HUGE advantage to having the 2 separate units, then stick with the 5/2, renovate it so it's solid, rent it out and call it a day. With that being said, there's a lot more that goes into Student Housing if you haven't done it before. Look up past topics that I and @Will Gaston have commented on in the past for some good tidbits. Best of luck!

2 Votes

Classifieds

Post: Looking for LENDER in OH

Dave Poeppelmeier

Posted January 31, 2024 02:44

Realtor
Maumee, OH
Posts 479
Votes 711

Hi Megan, @Chris Wharton with First Ohio works with Investors all over Ohio. He's been my go-to for a while now. Best of luck!

3 Votes

Classifieds

Post: House for sale

Dave Poeppelmeier

Posted December 30, 2023 07:20

Realtor
Maumee, OH
Posts 479
Votes 711

Thanks for the sales pitch, do you have an actual address?

1 Vote

Toledo, Ohio

Medium-Term Rentals

Post: Student Housing Market

Dave Poeppelmeier

Posted December 30, 2023 07:19

Realtor
Maumee, OH
Posts 479
Votes 711

Quote from @Jason Bullock:

I am interested in MTR for students near colleges and universities. I am wondering if during the time students are in school one is able to rent rooms for higher than normal market value.

Any articles, insights and or comments on these are is appreciated.

Man, there is a lot to go into on this simple question. It all depends on the college rental culture. At some schools the students stay year round, others are 9 month leases. Some provide furnished houses, others don't.

I would not put Student Rentals in the same category as MTR. There is a lot more hand holding and hands on management with Students, the leasing season is much different, as @Melanie P. mentioned you have to get repairs done between groups, etc. The only way I would see this working is if you find a school that:

1. Has a culture where Students move in in August and move out in May

2. There is a market for providing furnished houses (International students and wealthier students)

3. Has a STR demand outside of the University in the summer (major metro area with tourist demand)

If you can find something like that, and someone competent to manage all of that, then I would say go for it. In my experience, we don't have that, and it's much simpler (if Student Housing can be considered simple) to just do Student Housing and not try to squeeze every possible cent out of a property.

2 Votes

I don't think it moves the needle regarding owner occupied buyers until rates hit around 5% again. Obviously, millions of people are sitting on 3-4% mortgages, and the people that aren't remember those rates in the not too distant past. In the single family investment space, the first time homeowners still aren't moving up to their 2nd home because of the affordability issue that people have mentioned. Regarding Investors, especially in Multifamily, it never stopped being competitive here in Toledo, especially with investors holding onto their MF properties in anticipation of the upcoming recession. The only ones that are hitting the market here are run down, have low rents, or both. Same with what single families are available, in that if they're nice and priced correctly, they're gone regardless of what the interest rate is. It feels like we need to get this next recession over with to see what the new normal is going to be on the other side.

0 Votes

Portland, Oregon

Dave Poeppelmeier has started 16 posts and replied 470 times.

Rounded Star Post: Property management for section 8 property

Rounded Star Post: Out of state investing for Californians

Rounded Star Post: Muting the spam on Bigger Pockets

Rounded Star Post: Is this a good market to invest in?

Rounded Star Post: Will a D-Class 4-Plex in Cleveland make you Money?

Rounded Star Post: 1 house or 2 units

Rounded Star Post: Looking for LENDER in OH

Rounded Star Post: House for sale

Rounded Star Post: Student Housing Market

Rounded Star Post: Are below 6% mortgage rates and a tsunami of buyers and investors coming in 2024?

Post: Property management for section 8 property

Post: Out of state investing for Californians

Post: Muting the spam on Bigger Pockets

Post: Is this a good market to invest in?

Post: Will a D-Class 4-Plex in Cleveland make you Money?

Post: 1 house or 2 units

Post: Looking for LENDER in OH

Post: House for sale

Post: Student Housing Market

Post: Are below 6% mortgage rates and a tsunami of buyers and investors coming in 2024?