All Forum Posts by: Mike Mocek

Quote from @Jackson Keefe:

I am going to MSU currently and beginning to look at investment opportunities! I am a marketing major with a minor in entrepreneurship.

Have you looked at other areas of the MidWest?  Dayton? Toledo? Cleveland? Akron?  It is going to come down to what kind of market you want to be in.  Detroit and Cleveland have bene prosperous for some of my clients who like primary markets.  Akron, Toledo and Memphis have been great asset adds for my clients who like secondary markets.

Toledo is a very unique market, and you’re going to find that we are different from all others, not to mention, extremely low purchase prices on fixer-uppers as compared to their retail value. The need for quality residential and commercial space has become astonishing, making the right investment in Toledo is sometimes not easy with so many different projects to choose from. Whether it is Single-Family homes, Multi-Family homes, mixed-use, or any other type of property, with such high demand in Toledo, it rarely stays on the market for a great length of time.

Some reasons why so many investors are talking about investing here include:

- Low inflation
- One of the safest cities in Ohio
- Low cost of living
- Growing metropolitan

Toledo Investment Properties are providing investors with a uniquely comprehensive platform that makes Toledo a logical place to invest in. The area is always expanding the business district as well as downtown, from Access to low-cost regional talent, competitive real estate costs, strong work ethics, and excellent facilities for sports, shopping, leisure, and healthcare.

Love to learn more about what your goals are, I think that will help you identify what you are looking for specifically and what might work and not work for you.

Quote from @Christian Wendelboe:

Hey everyone! I am currently in the process of getting my first rental property. It is out of state as I live in NYC, also my first property ever as I rent my main dwelling in the city. I've been wanting to get going for a while and it looks like we finally found a property to pull the trigger on.  I connected with one lender so far and want to hear from others and try and get a competitive offer. I should hear back on whether or not the sellers accept our offer today. How long do I have to keep looking at other lenders? Is it already too late? Or could I keep reaching out to others to keep things competitive? 

Also, would love any recommendations on lenders in Ohio (Cleveland area).

Thank you all!

I have an amazing lender, he has saved a few clients in some weird situations, if you still need one! 

Quote from @Zachary Schimenz:

Anyone know of a good property manager in Toledo Ohio? I own a duplex there, looking for someone to manage it.

Thanks!

There are quite a few PMs in Toledo, it’s all about finding your niche. Ask questions and interview, I’d be happy to hop on a call and discuss your property and goals and make suggestions. 

Quote from @David Ryan:

I purchased a property in May with the intentions of moving into it due to my current divorce. With my son who has Down Syndrome, the divorce, work, fixing the house and almost losing my son to covid in early October things have changed. Now I am almost done with the repairs and not sure if I should hold the property and rent it, sell it or BRRRR it. I'm hoping to find someone that could mentor me on property investing and be patient at the same time. My goal is to get away from my W-2 job and to get enough passive income to where I can spend more time with my son and provide him with whatever he needs. Any advice and constructive feedback is welcomed!

Thank you in advance for taking the time to read this and respond if you do. 
 

I would love to connect, my son also has DS and is one of my drivers for investing!   

Quote from @David Derus:

Hi All,

I'm just starting out this journey with a friend of mine who is a realtor. We have money lined up and about 140k to start between the two of us. Currently in Los Angeles and that kind of cash doesn't go far. My first question is, how do you look for a market that you are not living in? What factors go into that decision? Thoughts on where we should start? We want to flip about 3 or 4 a year plus buy and hold 1 or 2 duplexes. I'm excited to be here and learn.

 You need to have your core four set up! Interview Agents, PMs, Contractors etc. Align yourself with market experts, not ones that just say, this is why the area is good. I love when my clients come and visit my area, I get to show them my city, show them what we are all about! 

Quote from @Raghavendra Kandukuri:

Hi, i am looking for my first investment property, and i’m new to real estate and looking for suggestions interms of state/location, type of loan which can generate some positive cash flow or break even.

 I invest in Cleveland, Akron, Toledo and Tampa, FL and I personally, like the secondary markets better (Toledo and Akron).  Although my larger cities show good appreciation, I really enjoy the secondary markets better.

Quote from @Luca Giani:

Hello everyone,

My name is Luca Giani, I am a real estate agent in California and together with a partner, we are looking to invest in a rental property out of state. We are looking at different cities/areas and one of them is Detroit.

What are we looking for:

- Single Family homes up to Fourplexes, max 160k, 20-25% down payment.

- Properties potentially able to generate CASH FLOW.

- A lender to work with that can assist us to get a DSCR loan to buy the property.

- A reliable management company that will take care of payments, maintenance, etc. in order for us to deal with our property/ies without having to be present physically.

We are looking, in the long/middle term, to invest in multiple properties so this could lead to multiple business opportunities for you and your partners (lenders, management companies, etc.).

Anyone willing to help?

 Hey There!  

I see lots of posts about the midwest, and Toledo has been mentioned.  I personally invest in Cleveland and Akron Ohio as well as Tampa, FL.  But I love the Toledo Investment Market! Toledo is a very unique market, you’re going to find that we are different from all others, not to mention, extremely low purchase prices on fixer-uppers as compared to their retail value. The need for quality residential and commercial space has become astonishing, making the right investment in Toledo is sometimes not easy with so many different projects to choose from. Whether it is Single-Family homes, Multi-Family homes, mixed-use, or any other type of property, with such high demand in Toledo, it rarely stays on the market for a great length of time.

Some reasons why so many investors are talking about investing here include:

- Low inflation

- One of the safest cities in Ohio

- Low cost of living

- Growing metropolitan

Toledo Investment Properties are providing investors with a uniquely comprehensive platform that makes Toledo a logical place to invest in. The area is always expanding the business district as well as downtown, from Access to low-cost regional talent, competitive real estate costs, strong work ethics, and excellent facilities for sports, shopping, leisure, and healthcare.

Love to discuss Toledo if you would like!

Hello @Sandra Regnell This is a great question, I would definitely consult a real estate attorney to get a firm answer on the law, and where is the property at.  I saw you are in Washington, If so, I found this article that might help!  Good Luck!

Hello @Carini Rochester Congratulations on your acquisition, how exciting is that!  The very first thing I would do is confirm utilities and make sure that everything that needs to be transferred, is.  Then, I would introduce myself to all of the tenants, face to face, and create a relationship with them.  Ask them if there are any major outstanding repairs (Plumbing, Electrical, Safety).  After you have done a face-to-face, I would give a "Welcome Packet" which can just be a folder with how to communicate with you, pay rent, etc, I also will include a small gift, like a gift card, bottle of wine, etc (You will see what they like with your face to face conversation. I am all about building strong relationships in my business whether it be colleagues, clients, tenants, etc, I want my tenants and colleagues to be happy and know that I am here.  Good luck and congratulations again!

Hello @Jaxen Goldworth sent you a message