CA resident looking to flip in Toledo, Ohio

[Andrea Tavake]

Im new to this forum, found it while looking for information about flipping in Toledo, Ohio. I want to stat flipping but it is impossible at the moment for me in the Bay Area. I have been looking at a few houses in Toledo, Ohio. How’s the market and how is Dunham St in the 43609? 

[Daniel Kramer]

@Andrea Tavake

I live in Toledo and I'm a wimp that won't go near 43608, 43609, 43605. Some that have decent value that many look at are 43613, 43612, 43614. But I'd say even then, the zip codes aren't perfect indicators as one block could be good and the next not so great. If you can find anything with Washington Local Schools, that's a little better than Toledo Public but has similarly low taxes, so good value. There are other good school districts all around the suburbs but also have correlating higher taxes.

Toledo seems to be popular with California investors but I don't know if it's all that special - affordable Midwest mid-size metropolitan area with some industry surrounding it. Some people have success everywhere including 43609 but it requires being able to 100% take your hands off and have superstar property management with thick skin capable of following through with evictions. All around, be very conservative with your estimates. Calculate with higher vacancy than you'd think (I'd guess 12%+). High PM fees (12%+). If that's what you're good at, go for it. I always say stick with your "why" and properties that you'll enjoy even if it means smaller margins but that's just me.