All Forum Posts by: Stone Jin

I am new to real estate, trying to find my way in rental properties applying de Brrrr method in my city (Guayaquil) but I don't know anyone with experience in my area.

If anyone have some experience that would like to share, I will really apreciatte it. :)

Thank you very much in advance,

Angel Gonzalez.

Hi, you posted this in the Toledo OHIO local real estate. I doubt you will find many Toledoans investing in Ecuador.

1 Vote

Toledo, Ohio

@Katie Sorensen

Try putting it on roofstock at your price and see what you get? Not sure the condition of the properties you may want to sell turnkey. Maybe talk to some of the turnkey providers in the area to partner up.

1 Vote

Originally posted by @Kristin Smith:

Aside from the regular MLS such as Realtor.com, here are some options:

HomePath.com for REO listings,

Auction.com (properties listed there are sometimes eligible for conventional financing),

Xome Auctions,

LoopNet (perhaps not the greatest resource but look anyway),

Hubzu although it can be (tedious and confusing),

also check your city or county website for auction properties ( a very few may be eligible for conventional financing),

HUD Homestore (another tedious process but worth checking)

ForSaleByOwner.com (search your area, not all properties listed are on the MLS)

4SaleByOwner.com (ditto)

Craigslist Toledo OH, real estate for sale by owner listings (beware scams, but sometimes good things show up)

Facebook Marketplace for Toledo Ohio, there is a real estate section

Local bulletin boards- post a free ad saying what you are looking for

Bigger Pockets Marketplace!

Look up and contact wholesalers in your desired area to see if they have anything that meets your criteria (many are here on Bigger Pockets to connect with)

If you are prepared to go further in your search, you can direct-mail the owners of any multi-family properties you see that you take interest in, to see if they may want to sell. Sometimes even if they don't, they know someone else who does! There are resources here on BP for how to do that, getting address lists, etc.

Guys, what have I left out??

Homesteps.com (freddie foreclosures)

realtybid.com

Toledo only, Pamelaroseauction.com bethroseauction.com

Good luck

2 Votes

@Trevor Aydelott I would say that in certain parts of the city there will be good appreciation. The investors have moved from Tier1/Tier2 cities and now starting to focus on the Tier3 such as Toledo.

1 Vote

Toledo, Ohio

LOL, in college my roommate set the apartment on fire by throwing a lit cigarette in a trash can. It burned only a small patch of carpet and sub floor. They somehow let us finish our lease but decided not to renew and sent a hefty damage bill. My goal in vetting tenants is to not rent to my younger self.

2 Votes

Originally posted by @Michael P.:

Is your name really Stone?

I feel like we've had this conversation before.

1 Vote

Toledo, Ohio

@Kenneth Coleman don't be tricked by returns on paper, returns in reality tend to be very different.

3 Votes

@James Francisco You said it yourself, you flipped cars for a few months and got your capital. Worst case you lost of few months worth of flipping cars and you can flip more cars. Just buy something small and safe on the first one. Doesn't have to be a home run, just have to be cheap tuition.

0 Votes

Originally posted by @Brittnay Hogan:

@Stone Jin What’s wrong wit Toledo, prices seem cheap there...I ask because I’m thinking of investing in some buy and holds there so your insight would be great

There is nothing wrong with Toledo and price is all relative. From a personal investing standpoint, I prefer the suburbs as I tend to get appreciation and a higher tenant class. If you want to invest in the city and get a house that's probably been 50K for the last 50 years and have rents of 700, lots of people are doing that with success. Each investor needs to understand their own philosophy.

There are 2 main issues that people write about Toledo, lack of good contractors and lack of good management. I think by buying better property I mitigate both those issues.

The down side of course if the higher taxes and higher cost to entry. Which are not bad things in my opinion.

0 Votes

Toledo, Ohio

All Forum Posts by: Stone Jin

Stone Jin has started 26 posts and replied 689 times.

Post: What will be the impact of the Coronavirus crisis on real estate?

Post: Investing in Guayaquil, Ecuador

Post: Valuation of rental portfolio

Post: Best websites/places to look for investment properties

Post: Toledo Ohio Investing

Post: How bad were YOU as a Tenant?

Post: Toledo Ohio Investing

Post: Renting in bad neighborhoods

Post: Overcome that initial fear

Post: Toledo Ohio Investing