Any insight into Ohio Rental market / turnkey investments

26 Replies

Hi,

I'm new to biggerpockets so this is my first post!  I'm very inspired by all of the success stories and advice on here. I have a few rental properties in California and am looking at changing direction and investing in Ohio for better cash flow. I'd love any feedback on Ohio as an investment market (I have no ties there just seemed to make sense based on the returns but can look anywhere really). I'll need a trusted turnkey partner due to the distance, a busy job and being a Mom. Would love any recommendations or feedback on things to look out for. Thank you!

@James Wise are you going to be at the REI next Wednesday in Independence? I would love to ask you questions about potential investment opportunities.

Originally posted by @Steve Gay :

@James Wise are you going to be at the REI next Wednesday in Independence? I would love to ask you questions about potential investment opportunities.

 Not sure what event your speaking of but no I don't have anything scheduled in Independence on Wednesday.

However, feel free to contact us at the Holton-Wise office and myself or one of our agents will be able to answer some investment questions for you. 

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Cleveland ROCKS! :)  

@Kate Stephens I travel the country for work (in California as I type this) and I can confidently say Cleveland is a great place with a great market! @James Wise knows his stuff in the Cleveland area and operates a one stop shop for turnkey.  Shout out to @Isaac Rowe as well for being a good guy working the Cleveland area as well!

My two properties are in Akron, Ohio, as well as a close friend has four in another city.  But just referencing the state of Ohio is kind of a broad stroke, as there are many large & rural suburban areas.  Obviously there are the bigger cities, Cleveland, Columbus, Cincinnati, the smaller cities, Toledo, Akron, Dayton, & even smaller towns like Sandusky, Fremont, Mansfield.   While I don't know the anywhere close the entire state intimately, we have been successful with our areas at an introductory level.  Lots of available units, with the property values lower now, & no shortage of tenants.

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I agree with @Paul Parker Toledo is definitely a great place to invest. Paul is great at drumming up deals here, I follow him closely

Originally posted by @Rebecca Cirisan :

I agree with Paul Parker Toledo is definitely a great place to invest. Paul is great at drumming up deals here, I follow him closely

Where is Toledo?

Is that the Toledo in Spain you're talking about lol

Toledo Spain is overpriced and the turnkeys there have low cap rates @Engelo Rumora . Toledo Ohio on the other hand is a diamond in the rough lol

Originally posted by @Kate Stephens :

Hi,

I'm new to biggerpockets so this is my first post!  I'm very inspired by all of the success stories and advice on here. I have a few rental properties in California and am looking at changing direction and investing in Ohio for better cash flow. I'd love any feedback on Ohio as an investment market (I have no ties there just seemed to make sense based on the returns but can look anywhere really). I'll need a trusted turnkey partner due to the distance, a busy job and being a Mom. Would love any recommendations or feedback on things to look out for. Thank you!

If you are looking in Ohio for only cash flow and want more opportunities, I'd check out Toledo (my hometown) or cleveland as well as Columbus. there is a group by the name of Ohio Cash Flow Properties that does turnkey rentals out of Toledo. If you are considering Columbus, I can give you a few areas for almost all cash flow. But there will be a lot more opportunities and less competition outside of central OH. 

Originally posted by @Robert Ellis :
Originally posted by @Kate Stephens:

Hi,

I'm new to biggerpockets so this is my first post!  I'm very inspired by all of the success stories and advice on here. I have a few rental properties in California and am looking at changing direction and investing in Ohio for better cash flow. I'd love any feedback on Ohio as an investment market (I have no ties there just seemed to make sense based on the returns but can look anywhere really). I'll need a trusted turnkey partner due to the distance, a busy job and being a Mom. Would love any recommendations or feedback on things to look out for. Thank you!

If you are looking in Ohio for only cash flow and want more opportunities, I'd check out Toledo (my hometown) or cleveland as well as Columbus. there is a group by the name of Ohio Cash Flow Properties that does turnkey rentals out of Toledo. If you are considering Columbus, I can give you a few areas for almost all cash flow. But there will be a lot more opportunities and less competition outside of central OH. 

Toledo is a very solid cashflow market.

But then all of Ohio is also :)

I always stress to investors that they first need to focus on finding the right team and then worry about the numbers.

A good team will make your investment while a bad one will break it. 

So it is crucial to focus on the team first.

Much success

@Rebecca Cirisan @Engelo Rumora

Do you know a realtor or some bird-dogs in the area? I have a deal I'm looking at that is off market and I'd like to have someone get some pics to finalize my DD on it. 
PM me. I'd be happy to take care of your time/gas

@Jason Gray tried to send pm, says your details are hidden. Send me a message so we can converse

Originally posted by @Jason Gray :

@Rebecca Cirisan @Engelo Rumora

Do you know a realtor or some bird-dogs in the area? I have a deal I'm looking at that is off market and I'd like to have someone get some pics to finalize my DD on it. 
PM me. I'd be happy to take care of your time/gas

Sure mate,

What exactly are you looking at doing in Toledo tho?

Buy, fix n flip

Buy n hold?

Thanks

Originally posted by @Kate Stephens :

Hi,

I'm new to biggerpockets so this is my first post!  I'm very inspired by all of the success stories and advice on here. I have a few rental properties in California and am looking at changing direction and investing in Ohio for better cash flow. I'd love any feedback on Ohio as an investment market (I have no ties there just seemed to make sense based on the returns but can look anywhere really). I'll need a trusted turnkey partner due to the distance, a busy job and being a Mom. Would love any recommendations or feedback on things to look out for. Thank you!

 Hi Kate,

Welcome to BP! This is a great place to find what you are looking for! It sounds like you are off to a great start and asking the right questions. Make sure you do your research into the turnkey company. You do not want to go with someone who will act as a "middle man" By that I mean they only act as agents finding you when they think is a turnkey. You want someone who actually owns the home and does the work themselves to make sure it is a turnkey investment. Many investors from CA like to invest in Ohio due to its more affordable market. You can see a much larger ROI here.

Feel free to send me a message if you have any questions.

Originally posted by :
are you going to be at the REI next Wednesday in Independence? I would love to ask you questions about potential investment opportunities.

 Hi Steve,

Actually that event was Co-hosted by Smartland. Feel free to send me a message and I can give you some more details about it if you were unable to attend!

@James Wise hey how are you? I'm from Youngstown and have lived in a few different cities in Ohio. I currently live in Atlanta where I wholesale but I was thinking about doing some deals and maybe getting some property up there. My question to you is how do you suggest I start out up there with me living here?

Does anyone have good rehab contractors in Toledo OH area?

I'm located in Toledo, Ohio @Julia Tsa. Contact me....

I'm trying to build out my team. I do Non-Performing notes and I'm looking to build out teams in markets that make sense to my business model. I'm currently looking for some eyes/boots on ground to take a look at properties I'm considering. Once I find good people I keep them on the payroll.



PM me. I just upgraded to Pro so my PM should work now...

@Rebecca Cirisan @Paul Parker

Originally posted by @Khiana Thomas :

@James Wise hey how are you? I'm from Youngstown and have lived in a few different cities in Ohio. I currently live in Atlanta where I wholesale but I was thinking about doing some deals and maybe getting some property up there. My question to you is how do you suggest I start out up there with me living here?

 The 1st step would be creating a budget. 

Cash or Loan? If loan contact a loan officer and get pre approved.

After that you will want to contact an Investor focused Realtor & see what properties are available for sale in your budget and go from there.

Originally posted by @Jason Gray :

I'm trying to build out my team. I do Non-Performing notes and I'm looking to build out teams in markets that make sense to my business model. I'm currently looking for some eyes/boots on ground to take a look at properties I'm considering. Once I find good people I keep them on the payroll.



PM me. I just upgraded to Pro so my PM should work now...

@Rebecca Cirisan @Paul Parker

That will prove to be a tough gig in the Toledo market mate.

We have been based here for 4 years now and finding good enough people has been a hassle.

Toledo is a smaller region unlike the bigger hubs so good talent and reliable folks are harder to come by.

Much success

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