Hi everyone! I'm new to real estate investing and have been trying to learn about the market in Toledo. I'm an out of state investor, so I'm not very familiar with the area. I was wondering if anyone had suggestions for what are good areas to target and which areas I should avoid when searching for my first rental property in Toledo? My investment focus will be on townhomes/condos and also multi-family properties.
I’d definitely spend some time in the area first. Properties can be less expensive than other parts of the country BUT that doesn’t always mean that it’s a good investment if rents don’t support it. You also need to educate yourself on the lead paint ordinance and potential impact and familiarize yourself with the nuances of the neighborhoods. A good realtor can help.
Hi Christopher, it is a pleasure to meet you. Great name, by the way. I have been there briefly, but haven't spent much time there. I'm excited to start investing and it looks like it may be a great up and coming place to invest, so I was hoping to learn more about it.
Nobody invests in condos/townhouses in Toledo that I know of. Its mostly either single family or small multi-family. The very abbreviated answer is invest in 43612, 43613, 43614. Avoid 43605, 43608, 43609.
I’d definitely spend some time in the area first. Properties can be less expensive than other parts of the country BUT that doesn’t always mean that it’s a good investment if rents don’t support it. You also need to educate yourself on the lead paint ordinance and potential impact and familiarize yourself with the nuances of the neighborhoods. A good realtor can help.