Rental Market

5 Replies

I am trying to Buy and Hold for "passive income".  I live in an area where some homes are for sale for less than 10K,  seller financing and rental rates around $400m.  My biggest concern is the rental market.  Can someone tell me how I can check the rental market in my area (Toledo OH).  My other concern is finance rates.  Should I determine this by running the numbers and shooting for cashflow?

My opinion is that if you don't have $10,000 to invest you are not ready to be a real estate investor.  Besides, the difference between 4% and 10% is only $50 per month.

My experience with $10,000 houses was I couldn't find a property manager who would go in and collect rent.  Do your research.

Good Luck.

Bill

Originally posted by @Bruce Green:

I am trying to Buy and Hold for "passive income".  I live in an area where some homes are for sale for less than 10K,  seller financing and rental rates around $400m.  My biggest concern is the rental market.  Can someone tell me how I can check the rental market in my area (Toledo OH).  My other concern is finance rates.  Should I determine this by running the numbers and shooting for cashflow?

Hey Bruce,

We are based in Toledo.

This guy can answer your questions :)

@Joshua J Bowen  

Thanks and have a great day

My partner in my town has bought 10k and 20k houses cash and then owner financed them @ 10% int. Works fine here, your area could differ though. You can't buy houses that cheap in the areas we work in currently though, market is up. 

Hi Bruce, I am a full time investor in Toledo. I personally own and manage 188 units, many of which are exactly the kind of units you are referring to. Feel free to contact me any time with questions.

@Bruce Green You have the good fortune of actually living in one of those kinds of markets. You could do your own management, and I'm sure be very successful. You would probably have a hard time finding someone else to manage them for you, though. 

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