Info on Midwestern Markets

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Info on Midwestern Markets

Saudi Garcia
Member since 2020 · 3 posts · 2 votes

Hi y’all! My name is Saudi and I’m just starting out on real estate investing. I just returned from a trip to Detroit, Cleveland, Toledo and Cincinnati to check out those markets. Almost closed on a duplex but backed out after inspection. These are very different markets and I walked away knowing I want to wait 6 months, continue doing research about other Midwestern markets (oh hey Indianapolis!) and save for a down payment and summer move. Which of these markets would you recommend for cash flow, appreciation and available deals?

I’m lucky to be location flexible. My goal for my first investment is to house hack on a duplex costing max 85k or a four plex costing 125-150k. I’m willing to take on a cosmetic fixer upper.

Thanks for your advice and mentorship!

Saudi

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Cheryl MackPro Member
Real Estate Agent · Wake Forest NC · Member since 2017 · 40 posts · 26 votes
5y

Hello Saudi,

My home is in Toledo, OH where I am a licensed real estate agent and property investor.  There are many good reasons to invest in Toledo including: 

Good neighborhoods and Parks

Year-round Sports 

Thriving Arts community

Good jobs with UPS, Amazon warehouse, and (coming soon) new Fiat Chrysler factory

Given those factors, there is a great future for real estate here, especially if you can house hack.  I would love to talk more with you about your goals and how I can help you find the perfect real estate deal.

Cheryl

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  • Cheryl MackPro Member
    Real Estate Agent · Wake Forest NC · Member since 2017 · 40 posts · 26 votes
    5y

    Hello Saudi,

    My home is in Toledo, OH where I am a licensed real estate agent and property investor.  There are many good reasons to invest in Toledo including: 

    Good neighborhoods and Parks

    Year-round Sports 

    Thriving Arts community

    Good jobs with UPS, Amazon warehouse, and (coming soon) new Fiat Chrysler factory

    Given those factors, there is a great future for real estate here, especially if you can house hack.  I would love to talk more with you about your goals and how I can help you find the perfect real estate deal.

    Cheryl

    1Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Cheryl Mack:

    Hello Saudi,

    My home is in Toledo, OH where I am a licensed real estate agent and property investor.  There are many good reasons to invest in Toledo including: 

    Good neighborhoods and Parks

    Year-round Sports 

    Thriving Arts community

    Good jobs with UPS, Amazon warehouse, and (coming soon) new Fiat Chrysler factory

    Given those factors, there is a great future for real estate here, especially if you can house hack.  I would love to talk more with you about your goals and how I can help you find the perfect real estate deal.

    Cheryl

    That is awesome news about Fiat Chrysler!

    0Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    5y
    Originally posted by @Saudi Garcia:

    Hi y’all! My name is Saudi and I’m just starting out on real estate investing. I just returned from a trip to Detroit, Cleveland, Toledo and Cincinnati to check out those markets. Almost closed on a duplex but backed out after inspection. These are very different markets and I walked away knowing I want to wait 6 months, continue doing research about other Midwestern markets (oh hey Indianapolis!) and save for a down payment and summer move. Which of these markets would you recommend for cash flow, appreciation and available deals?

    I’m lucky to be location flexible. My goal for my first investment is to house hack on a duplex costing max 85k or a four plex costing 125-150k. I’m willing to take on a cosmetic fixer upper.

    Thanks for your advice and mentorship!

    Saudi

    @Saudi Garcia Where they not willing to negotiate the items on the inspection?

    0Reply
  • Christopher B.
    Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    5y

    Welcome.  I am familiar with Toledo and Detroit, with investments in Toledo this far.  Toledo has been good for cash flow, and I have seen some amount of appreciation, but not a whole lot.  

    0Reply
  • Saudi Garcia
    OP
    Member since 2020 · 3 posts · 2 votes
    5y

    HI @Account Closed Thanks for replying. it was just too much for us to take on in our first deal. The clay foundation has started showing signs of damage and it seemed that the owner just wanted this property off their hands and was clear they were not willing to do the work to get it in shape for the market. Plus there was another offer on the table.

    We decided to walk away, continue doing our research and prepare to purchase this summer.

    0Reply
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