Local Investor Advise - TOLEDO, OH

[Thomas J Mele]

We just broke into this market about 6 months ago from out of state - NEED ADVISE!

[Cheryl Mack]

Thomas,

What sort of issue are you having?  

I am a native Toledoan and real estate agent living and investing in Toledo since 2014.  We are buy and hold investors in 43612, 43613, 43608, 43609.  We have had most of the usual issues with tenants, Section 8, utilities, rehab, and more.  I have plenty of resources for buying, selling, financing, and rehab.   Do you have local property management?  Tell me: what part of Toledo investing frustrates you?

In the meantime, I wish you an excellent weekend!

Cheryl

[Michael P.]

My advice is to post more information about what you want advice on

[Thomas J Mele]

ADVICE*****...............NOT ADVISE LOL

[Inna Joyce Aguda]

Quote from @Cheryl Mack:

Thomas,

What sort of issue are you having?  

I am a native Toledoan and real estate agent living and investing in Toledo since 2014.  We are buy and hold investors in 43612, 43613, 43608, 43609.  We have had most of the usual issues with tenants, Section 8, utilities, rehab, and more.  I have plenty of resources for buying, selling, financing, and rehab.   Do you have local property management?  Tell me: what part of Toledo investing frustrates you?

In the meantime, I wish you an excellent weekend!

Cheryl

 Hi Cheryl,

I am also looking to buy my first investment property in Toledo. Some properties I’m looking at are in the 43606 and 43607 areas. Would love to network with you and get some insights about the neighborhood and rental market.

Thanks,

Inna

[Cheryl Mack]

Hello Inna,

In general, the rental market in Toledo is thriving, with good demand for rentals.  Owners are seeking investment properties here despite the onset of a Lead Paint Ordinance which starts for the first tier of properties on 6/30/22.  

43606 and 43607 zip codes encompass some good opportunity areas, and some to avoid.  In the neighborhoods, the desirable properties may be found on one block, but not the next.  The sweet spot is to find a home with good structure and mechanicals near alert neighbors who keep their homes in good repair and free of trash.  

Cheryl

[Thomas J Mele]

Are any of you guys buying on Prouty Ave in Toledo?

[Cheryl Mack]

It greatly depends on which section of Prouty you choose.  It's a long street divided into sections and you need a good look at the surrounding neighbors.  

The section between Lodge and Wright street has some desirable properties.  I have helped others buy in the Prouty cross-streets Geneva, Ogden, Hampton, etc. where neighborhoods are a mix of owner-occupied and rental.  The section east of Anthony Wayne Trail is ok, taking it block by block.  Expect higher tenant turnover in this neighborhood.

[Jesse Thomas]

Quote from @Cheryl Mack:

Thomas,

What sort of issue are you having?  

I am a native Toledoan and real estate agent living and investing in Toledo since 2014.  We are buy and hold investors in 43612, 43613, 43608, 43609.  We have had most of the usual issues with tenants, Section 8, utilities, rehab, and more.  I have plenty of resources for buying, selling, financing, and rehab.   Do you have local property management?  Tell me: what part of Toledo investing frustrates you?

In the meantime, I wish you an excellent weekend!

Cheryl

 Do you have a recommendation for property management? I’ve spoken with a few other out of state investors that eventually pulled out of Toledo because they were unable to get a reputable and trustworthy representation. I’ve looked at reviews and top 3 lists but every listing has different companies at the top. Oz seems to be the oldest but I’ve seen la plant near the top of some lists also. 

[Cheryl Mack]

 LaPlante Real Estate is my broker.  I work in the realty division,  but I have been with the company for years and I have watched it grow from the ground up. 

LaPlante property management can handle everything from a lightbulb change to full house rehab.  They have staff and maintenance crews, plus contractors who do large jobs. 

Not all property managers are alike.  You might call your top management choices, discuss the benefits of management with each, and see which seems like a good fit.

Good luck!

Cheryl