Looking to get my feet wet with a duplex in the Toledo Ohio area

7 Replies

Hey BP, new to the REI business and looking to get started with a duplex I can live in and rent other half .. would like some investor contacts in the Toledo Ohio area .. Thanks and this is the perfect place to gain knowledge and info .. I've gained so much info just in the past few days ..

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Welcome aboard!!!

Hi @Andrew Fidler ... would like to find one in either maumee , Sylvania or I know there is a lot of duplexes around franklin park mall/ Westland shopping center now I guess..
I would like to get one that needs some work so I'd like to stay under 100k .. I've seen a few on Trulia for 150k-200 but like I've been reading I should try to stay at 60-65% of market value .. am I correct on that ?

Well I am of the "Live where you want and invest where it makes cents" persuasion...check my bio for my story.

Still you will do fine if you got one in that range...the problem is it's unlikely to happen :). Muti-family is super hot in Toledo right now.

For giggles run the numbers on you buying a $100k duplex and renting out the top and bottom for $600 each (you would take one of course but project it like it's a full rental).

Then compare that to a duplex I own in 43608...$35k and it's $450 down and $435 up. Taxes and insurance are much cheaper and the profit would displace your mortgage expense on your own house where ever you wanted to live. (Of course I recommend you buy the ugliest house on the best block possible there, then fix it up and enjoy the appreciated)

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