All Forum Posts by: Stephen Brown

If you had $2M you could buy 20 properties free and clear in good neighborhoods in Toledo which would generate you $120,000 at least per year. Probably more given today's rent. They would appreciate as well and you could sell them individually to home owner occupants. I think that would be better than California personally.

Good luck with your section 8 endeavors! Many investors have success with it here in Toledo!

My biggest mistake - overthinking! I still do it! Fear will try to stop you! DO NOT LISTEN! 

Budget a boatload for capital expenses in the beginning and budget less per month in repairs and capex. I did the opposite, I was so conservative with my rents and monthly expenses but I was super aggressive with how much I would have to pay up front in fixing the property. If you buy a nice property you shouldn't have to spend too much per month... and it should rent for the market rate.

@Jerell Edmonds I think you are being very wise in considering the Toledo market. I know several investors who have scaled here very quickly. Our market is definitely overlooked given the hotspots of Cleveland and Columbus. We have a great market in terms of long term renters and stability. Rents keep growing here too because of the lack of supply. 

With this being said, I don't think there is anything wrong starting where you are if you have the teams in place. I would be more than happy to help you get your team here though is you decide to go the Toledo route.

Hey @Jonathan Wooten I will be happy to assist you!

Pretty straightforward question but what does your CPA do for you? I just send them all my own bookkeeping that I do via stessa and he does all the tax work. However I've heard other investors using their CPA's for bookkeeping too and other services. 

Does anyone also have someone that they would recommend speaking to in regards to setting up a Wyoming/Montana/Delaware LLC?

Hello BP,

I am wondering if anyone has an underwriting spreadsheet for commercial property? I'm looking for something I could analyze triple net leases with.

Thanks!

I've heard only good things about the DFW area, Indianapolis, Jacksonville, and of course our local markets here in Ohio.

Honestly, if you can, I would recommend buying in your own state first and then using a HELOC to buy several cash flowing properties in Toledo, Cleveland, or Columbus Ohio. Those are the three markets you want to start looking at for cash flow and scalability. You'll be able to pay your line down quickly and you'll have the best of both markets.

My out of state investors have chosen Toledo because of its superb stability as a rental market. Over half of our city rents and it has been like that for years. The rent to price ratio is better than the majority of the country as well. In regards to population decline, as it is certainly true, you must remember that there is still demand for housing in submarkets of each market. For an example, in Toledo, no one wants to move into the 43608 zip code. Most houses in that area are vacant and will be torn down in the distant future, but in regions like 43623 near the mall, we have seen significant growth and demand for housing, especially in multifamily.

I think Ohio is a great place to park your money. There will always be cash flow investors buying here, so you have an exit strategy if your main concern is property value decline. I think it's also a forgiving market for the out of state investor because the cash flow is so strong that you get a great taste of what it is like to invest from afar without worrying about losing money.

If population growth is your main concern I would go to Columbus.

If cash flow is your priority, I would choose Toledo or Cleveland.

Happy to help if you need it :)