All Forum Posts by: Mike Mocek

You are right, you just need the right player in your pocket!  Quite a few good properties that are being sold off market, you just need the right player on your side ;) 

If you have ever been to Toledo, Ohio you will see our welcome sign, "You will do better in Toledo," throughout the city. In 1913, The slogan was initiated to represent the positive attitude of Toledo's residents. Even though Toledo does not have much of tourist volume as surrounding larger areas such as Detroit, Cleveland or Chicago, our residents know what makes our city great, including lower-cost living, metroparks throughout and major companies headquartered in our city. 

Initiated as the "Glass City" for our roots in the glass-making industry, Toledo is just a short drive from other major Great Lakes metro areas like Chicago, Cleveland and Detroit, but many residents choose to enjoy the culture and entertainment close to home. Today, The city offers a range of attractions, from our world-famous baseball team, the Toledo Mud Hens, the Minor League hockey team favorites The Walleye, and the Toledo Zoo, to increasing world class Toledo Museum of Art, and a vibrant art culture. Currently, the country’s largest mural is being painted on silos on the banks of the Maumee River. 

I haven’t even touched base on the buzzing activity we have in Downtown Toledo during the work-week and when events happen at places like the Huntington Center, which caters to the area’s biggest events such as concerts and sporting events throughout the year.

So why are people talking about Toledo so much lately?  researched 150 metro areas in the United States to find the areas where people are happier, quality of life is up and the job market is growing.  Toledo ranks #116 in Best Places to Live, #53 in Best Places to Retire and number 5 in the Best Places to Live in Ohio.  What I find interesting is the value of the area is ranked 7.7 out of 10.

When you compare Toledo to the other Ohio metro areas, keep in mind Toledo is a secondary market to Cincinnati, Columbus and Cleveland. The cost of living in the city is pretty low, and accordingly, the average salary of $46k a year being is below the national average. The surrounding suburbs of Sylvania, Perrysburg and Ottawa Hills are easy accessed, and it is quite common to take advantage of restaurants and activities in those areas.  If you want to get away for the day, visit Put-In-Bay or the Cedar Point amusement park— bigger attractions that are close enough for day trips.

So, when we are asked, “Why Toledo?”, you can see why we talk about our city with pride.  We enjoy our Glass City, we take pride in our cultures and the bigger corporations are seeing these things too and also investing here.  Just ask Amazon who just opened their second location in 2021, Jeep, Promedica and even Peloton, who is opening their first US manufacturing facility in the region that will create a minimum of 2,000 extra jobs in the area.  

As we welcome 2022, remember is not just the major corporations that have faith in our city, but the investors that believe in bettering our area that are seeing the growth in the infrastructure all around.  Property values are growing, residents of our community are happier, and  the community is thriving. You will do better in Toledo, Ohio.

Good Morning @Sean Starkey The very first thing you need is to identify what kind of market you like.  Do you like Primary markets (Like Chicago, IL, Phoenix, AZ or Los Angeles, CA) or do you like secondary markets (Like Toledo, OH, Greenville, SC or Kansas City, MO).  I tell all my investor clients that every market has its niche and brings something unique to the table.  Talk about Ohio for example, you will see that Columbus and Toledo tend to go neck and neck but each city brings something different to the table.  Columbus, OH has the appreciation and mass cash flow, whereas Toledo, OH has the big city, small town feel with cash flow opportunities.  Each city brings something different to the table and, as an investor, will need to figure out what satisfies your goal.

Once you have identified the type of market, its time to identify an area that you feel comfortable.  Being from out of town, you will need to identify your core 4 (Lender, Agent (Deal Finder), Property Manager and Contractor).  There are some top hitters in each market that can provide multiple areas as well but its important to do your research, network and get everyone on the same page.

Once you have identified your market and your core 4, you are ready to go!  If you want to discuss ideas or have questions, you are in a good area and hands of investors all over!

Hello @Jamar Ussery I will send you a PM

Hello @Joon Lee There are plenty of MFs in the Toledo area, in very kind of neighborhood as well.  I will send you a PM, lets hop on a call and discuss the market!

Hello @Ignacio Linares I will send you a PM of some organizations that I have worked with in the past that can possibly assist you.

Good Morning @Remington Lyman can you send that to me as well :) Do you know if any are familiar with student rentals?

Hello @Shanise Kimbrough did you actually file the eviction?  If so, you should have gone for second cause.  I would reach out to the lawyer that you used.  If this was done on the seller side, you might want to reach out to them and have them file the second cause.  Unfortunately there is also a timeline that you have to report these damages and estimates to the court.  

Hello @Elda Kong I loved reading the posts and all of the suggestions of everyone in this thread.  I personally invest in Cleveland, Tampa, FL and Akron, OH.  I just purchased my second investment here in Toledo.  Out of the markets that I invest in, I prefer the secondary markets.  I have found them to be my strongest portfolio, cash flowing and perfect for long term holds.  I would love to chat with you to discuss my journey if you would like!

Good Morning @Brianne H. I manage quite a few section 8 properties in Toledo and it really comes down to how the owners take care of the property.  The owners that maintain and keep their properties in good condition have no issues, it is the owners that do not perform preventative maintenance that tend to run into problems.

There are also quite a few other organizations throughout the city that offer rental assistance for tenants, we work with quite a few.  Section 8 tends to be the most common but every organization has different standards and expectations as well!