All Forum Posts by: Brandon McCraney

Selling Real Estate Portfolio in Toledo, OH.

Total Monthly Rent: $5860

Price: $391,500

Portfolio (7 units) is fully rented with a Property Manager in place that works exclusively on these units (local born and raised). The Property Manager will continue to service the portfolio if requested. All properties are located in two target areas within the city: Washington Local Schools (the preferred school district) or next to University of Toledo (great rental income). Cash buyer preferred. For tax purposes, the target property close date is early Jan 2018.

1732 Evansdale Ave, Toledo, OH 43607 (Duplex) - Upper 3 BR, 1 BA, Rent $725; Lower 3 BR 1 BA, Rent $695 (next to University of Toledo)

822 Brookley Dr,Toledo, OH 43607 - 3 BR, 1 BA, Rent $795 (next to University of Toledo)

5033 Clover Ln, Toledo 43623 - 3 BR, 1 BA, Rent $950 (Washington Local School District)

5081 Vogel Dr, Toledo, OH 43613 - 3 BR 1 BA, Rent $950 (Washington Local School District)

242 E Northgate Dr, Toledo, OH 43612 - 3 BR, 1 BA, Rent $850 (Washington Local School District)

2049 Perth St, Toledo, OH 43607 - 3 BR 1 BA, Rent $895 (next to University of Toledo)

Please private message with questions or inquiries. Thank you for the interest. 

Hello BPers,

I have an accepted offer to purchase a property at $27.5K and am unable to secure a mortgage because the loan amount is too low.  Since there are a few properties in this range, it got me thinking about a new strategy and would welcome comments from those with experience...

Take out a personal loan at 8.99% over 7 years to purchase 5 properties. (yes, this will cash flow). They would be added to my current LLC portfolio. My next move would be then do a consolidated refi on all of the properties in a year and use the equity to purchase additional real estate. Any thoughts on this? Does this check out?

@Johnny Powers I used legal zoom to set up my LLC as well as my OH lease agreements. They have worked well so far.

I have recently purchased some properties already rented and plan to incorporate some of the good points in these existing leases to add to the current legal zoom lease. Building on experience...

Good luck!

Welcome to BP Mike. I have found Toledo to be a great market thus far. Happy Hunting!

@Brandon Bohland Great name! I will be in the area over the holidays and would welcome a time to meet. Looking for 3 BR+ or multi units. Buy and hold.

@Engelo Rumora Thanks for the info. I have found a few in that range but in need of some major work.

@Ryan Pyle Thanks! Message to follow....

Thanks @Sam B. Yes, definitely noticing a tightening of late. By the way, your comment a few weeks back in regards to Property Management in the area was very helpful. 

Hi BPers,

I am actively investing in the Toledo market (Washington Local School District) and thought to connect with any owners/investors looking to sell their properties in this area. 

Currently closing on my second property in the area and working towards a goal of 10 by end of 2015. Cash available and also pre-approved for another mortgage (other creative financial structures would also be of interest). I have an agent and scan the MLS and Craigslist regularly, so already familiar with the properties on these sites.

Thanks and appreciate any comments! Best, Brandon