We are looking to purchase an apartment complex close to Holland, OH. Honestly don't know much about the area that is why I would like some feedback. Is this generally a good area of town? Taking a tour on google maps there seems to be some good new retailer in the area. Are there any other employers in this area? Any feedback would be appreciated.
If anyone would like to contact me directly regarding this area and discuss rather than a long post please send a PM. Thank you.
Below are some pictures
Thank you @Nick B. . Got a 100 Unit deal that more or less just fell into our lap and I know nothing about that particular area. Any help from anyone in Toledo, Ohio is much appreciated.
I live a few miles from there, @Ryan Pyle invests in that area and can tell you the specifics, so long as the price is right it should be a good area. There's a lot of multi-family around there so there is definite supply, Ryan can comment on the demand.
I think the property's amenities, location and the net return based on rent rates and costs will tell you pretty quickly if you have a winner.
Thank you for the response, the property has a rather large number of studios. Do you think that it would be difficult to rent those there? We typically rent studios to younger professionals or in some cases students. I think this area is too far for students from Toledo. However is this an area you think attracts young professionals?
I spoke to Ryan on Friday and he was VERY helpful, he certainly seems to be a very knowleadgeable peron.
Hi Juan- I'm not the expert on large complexes, I have 10 one bedroom apartments two of which are efficiency...while I'm a different neighborhood completely they earn very consistently but due to the more dynamic characteristics of single adults to pair up and paired adults to either have increased income trading up to larger units or creating children and moving up due to necessity- these are in a constant state of flux so require more attention.
I prefer to rent to those on a fixed income with average expectations and a low interest in relocation.
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