CA resident looking to invest in Toledo.

Toledo, Ohio
Toledo Real Estate Forum
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CA resident looking to invest in Toledo.

Michael Swope
San Francisco, CA · Member since 2016 · 38 posts · 8 votes

Since California is sky high to buy I'm looking to buy out of state. Wanted to see if anyone could point me in the right areas to look at, what areas to avoid, discuss a partnership or any information worth sharing. 

-Mike 

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Account Closed
Investor · Canton, GA · Member since 2015 · 88 posts · 63 votes
9y

Toledo is an interesting market.  Some properties work well and some don't.  I have two in Toledo that perform fairly decently.  The turnover can be frequent so make sure you use a good property manager to find the best tenants.  From a pricing standpoint you'll find incredible deals, but do your due diligence to ensure you don't get a money pit.

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  • Jay Raught
    Investor · Newark, DE · Member since 2015 · 248 posts · 178 votes
    10y

    Columbus? Message me.

    0Reply
  • Chad Miller
    Wholesaler · Columbus, OH · Member since 2015 · 33 posts · 11 votes
    10y
    Hey Mike, nice to meet you. I have properties in Columbus and Toledo that I wholesale. Send me a message and we can connect and maybe I can help you out.
    0Reply
  • Adam A.
    Investor · Toledo, OH · Member since 2015 · 233 posts · 135 votes
    10y

    @Michael Swope Even though Toledo, OH is a great place to invest, I highly advise you to watch this viedo regarding wholesale transactions:

     https://www.youtube.com/watch?v=9fi54S8nwUA

    Deal only with licensed realtors.

    Good luck. 

    0Reply
  • Michael Swope
    OP
    San Francisco, CA · Member since 2016 · 38 posts · 8 votes
    10y

    Thanks for the info @Adam A.

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    10y
    Originally posted by @Adam A.:

    @Michael Swope Even though Toledo, OH is a great place to invest, I highly advise you to watch this viedo regarding wholesale transactions:

     https://www.youtube.com/watch?v=9fi54S8nwUA

    Deal only with licensed realtors.

    Good luck. 

    Come on mate,

    Who doesn't love the good old wholesaler with an awesome deal lol

    Pitty is that all them suck badly in Toledo hehe

    Thanks :)

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
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    0Reply
  • Adam A.
    Investor · Toledo, OH · Member since 2015 · 233 posts · 135 votes
    10y

    @Engelo Rumora Everyone loves a good deal. However, love or hate them, they can get you in trouble as most of are illegal in Ohio. You should watch the video.

    1Reply
  • Gordon CuffePro Member
    Investor · Roseville, CA · Member since 2009 · 1k+ posts · 584 votes
    10y

    There are good wholesalers and there are bad wholesalers. There is a problem that many wholesalers watch a guru video for 3 days and now they think they are seasoned investors. A good experienced wholesaler can be very valuable for an investor in locating good deals. If the wholesaler complies with real estate laws then why not purchase a property from that person? The buyer can use a property inspector, real estate attorney, appraiser, etc. If your buying a property then do your homework, there are many agents who have zero investing experience. If you buy a home with the help of an incompetent agent, you can be just as sorry as dealing with a incompetent wholesaler. 

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    10y
    Originally posted by @Adam A.:

    @Engelo Rumora Everyone loves a good deal. However, love or hate them, they can get you in trouble as most of are illegal in Ohio. You should watch the video.

    So buying from a wholesaler can get normal investors in trouble?

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
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    1Reply
  • Adam A.
    Investor · Toledo, OH · Member since 2015 · 233 posts · 135 votes
    10y

    @Engelo Rumora Simply explained. The "Wholesaler" who is not a principle in the property that make a profit by arranging a transaction between a property seller and buyer has to be licensed in Ohio.  The "Wholesaler" can't even advertise the property, get finder's fee, etc. House owners can sell their own property in Ohio without a license since their name on the deed. 

    There is more to it and the video explains more details and should be watched by everyone who is involved in real estate transactions.   

    Ohio Department of Commerce Division of Real Estate
    1Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    10y
    Originally posted by @Adam A.:

    @Engelo Rumora Simply explained. The "Wholesaler" who is not a principle in the property that make a profit by arranging a transaction between a property seller and buyer has to be licensed in Ohio.  The "Wholesaler" can't even advertise the property, get finder's fee, etc. House owners can sell their own property in Ohio without a license since their name on the deed. 

    There is more to it and the video explains more details and should be watched by everyone who is involved in real estate transactions.   

    Ohio Department of Commerce Division of Real Estate

    Thanks mate

    I'll check it out.

    There are so many wholesalers doing hundreds of deals every year but still manage to stay out of trouble.

    Probably due to deep pockets so they can pay their way out it :)

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
    WebsiteView Page
    0Reply
  • Jake Knight
    Lender · Elk Grove, CA · Member since 2016 · 190 posts · 94 votes
    10y
    Originally posted by @Adam A.:

    @Michael Swope Even though Toledo, OH is a great place to invest, I highly advise you to watch this viedo regarding wholesale transactions:

    What makes Toledo a great place to invest? I am asking in earnest; don't know much about Toledo.

    0Reply
  • Michael Swope
    OP
    San Francisco, CA · Member since 2016 · 38 posts · 8 votes
    10y
    Jake Knight I just did research and liked what I saw.
    0Reply
  • Cameron Nehrer
    El Segundo, CA · Member since 2017 · 7 posts · 2 votes
    9y

    Hi Michael, I'm new to BP and in a similar situation. Looking to purchase a student rental for grad students near the UT grad campus. 


    I'm curious did you pull the trigger on an investment in Toledo?

    0Reply
  • Account Closed
    Investor · Canton, GA · Member since 2015 · 88 posts · 63 votes
    9y

    Toledo is an interesting market.  Some properties work well and some don't.  I have two in Toledo that perform fairly decently.  The turnover can be frequent so make sure you use a good property manager to find the best tenants.  From a pricing standpoint you'll find incredible deals, but do your due diligence to ensure you don't get a money pit.

    2Reply
  • Rob Badhorn
    Fix & Flip / Buy & Hold / Wholesaler · Toledo, OH · Member since 2016 · 99 posts · 33 votes
    9y

    Hi @Michael Swope, I also invest in Toledo from AZ.  if you need any help on picking a place in Toledo/Surrounding areas, let me know.  I was born/raised there and know the landmines.  

    Rob

    1Reply
  • Jessica Maalouf
    Member since 2018 · 27 posts · 5 votes
    8y

    I am new to learning the trick of the trade for investing. I live in Texas and would like to know what areas are C+ in Toledo that have low market entry and decent returns.

    0Reply
  • Tony Kim
    Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes
    8y

    If you're open to using a true full-service turnkey provider, look into Ohio Cash Flow. I've bought one off them so far and it's been one of the smoothest transactions ever....I really get a sense of trustworthiness from them. They live in Toledo, which is where their investment properties are located. Also, I love the way their property management uses very modern online reporting so you can track all of your financial transactions. Check out Jay Hinrich's turnkey reviews if interested.

    2Reply
  • Andrew FidlerBusiness Member
    Real Estate Broker · Toledo, OH · Member since 2011 · 384 posts · 434 votes
    8y

    @Jessica Maalouf-

    Hi Jessica, Toledo has a population of over a quarter million people making us the 71st largest city in the US...this means we have some wide variety in neighborhoods, suburbs, and thus investment areas. 

    If you search Toledo on BP you will see some great info by both @Engelo Rumora and myself giving first-hand knowledge of neighborhoods and zip codes. 

    It’s all risk vs return, the $250k/house suburbs are super easy to rent but are a complete non-started and the $10k houses make money on paper like you are starring in Breaking Bad (but the actual returns are horrible). 

    Talk with your property mananger to discuss where they have their success and focus there. If you choose a skilled manager they will have their money where their mouth is and own rentals where they advise investing. 

    I like to say Toledo isn’t deal limited, while prices are going up the cash flow is still great...and rentals rent pretty consistently once they are completed. Toledo is contractor limited...finding and keeping a team together is a constant struggle for every local owner and manager. 

    I’d say that’s your first and most important choice wherever you want to invest!

    [email protected]419-410-3836
    LaPlante Real Estate
    WebsiteView Page
    1Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    8y
    Originally posted by @Tony Kim:

    If you're open to using a true full-service turnkey provider, look into Ohio Cash Flow. I've bought one off them so far and it's been one of the smoothest transactions ever....I really get a sense of trustworthiness from them. They live in Toledo, which is where their investment properties are located. Also, I love the way their property management uses very modern online reporting so you can track all of your financial transactions. Check out Jay Hinrich's turnkey reviews if interested.

     
    Hi Tony,

    Thanks for the mention and kind words.

    You bought a great property with some nice future potential :)

    We are excited to have you on board.

    Have a great day 

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
    WebsiteView Page
    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    8y
    Originally posted by @Andrew Fidler:

    @Jessica Maalouf-

    Hi Jessica, Toledo has a population of over a quarter million people making us the 71st largest city in the US...this means we have some wide variety in neighborhoods, suburbs, and thus investment areas. 

    If you search Toledo on BP you will see some great info by both @Engelo Rumora and myself giving first-hand knowledge of neighborhoods and zip codes. 

    It’s all risk vs return, the $250k/house suburbs are super easy to rent but are a complete non-started and the $10k houses make money on paper like you are starring in Breaking Bad (but the actual returns are horrible). 

    Talk with your property mananger to discuss where they have their success and focus there. If you choose a skilled manager they will have their money where their mouth is and own rentals where they advise investing. 

    I like to say Toledo isn’t deal limited, while prices are going up the cash flow is still great...and rentals rent pretty consistently once they are completed. Toledo is contractor limited...finding and keeping a team together is a constant struggle for every local owner and manager. 

    I’d say that’s your first and most important choice wherever you want to invest!

    You nailed it here mate

    "I like to say Toledo isn’t deal limited, while prices are going up the cash flow is still great...and rentals rent pretty consistently once they are completed. Toledo is contractor limited...finding and keeping a team together is a constant struggle for every local owner and manager"

    Thanks for the mention 

    Podcast Guest on Show #89
    Oz Realty4.5369 Reviews
    WebsiteView Page
    0Reply
  • Christopher B.
    Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    8y

    I'm local to the Toledo area also, and looking for investors or partners as we look to scale up in Apartment Building units.   If you are interested, please reach out.  

    0Reply
  • Rose Torio
    Riverside, CA · Member since 2017 · 60 posts · 36 votes
    8y

    @Michael Swope, I am also from SoCal and I flew out to Cleveland this past weekend, still here for a couple of days. I say stay away from the east side. It's also worth taking a trip and personally seeing the market in person. 

    0Reply
  • Michelle Hansley
    Member since 2018 · 22 posts · 4 votes
    8y

    @Adam A. @Andrew Fidler @Rob Badhorn 

    Any advice on how to get my hands on some properties that don't appear on the MLS? I've been looking at the washington school district as i hear that's where i need to be but it's hard to find properties.

    Also, do you guys have realtor recommendations and property manager recommendations? I would greatly appreciate the help! I'm in NY so need to find a good team of people. I have some SFH in dayton but interested in toledo as well

    0Reply
  • Craig Tinervin
    Member since 2019 · 11 posts · 4 votes
    7y

    Hey guys, looking into the Toledo area for investing, how is the market in the 43606 area code?  Namely Douglas Rd?  Do 1 bedroom apts rent easily there at around $525?

    0Reply
  • Ricardo R.Pro Member
    Property Manager · Michigan Ctr, MI · Member since 2016 · 663 posts · 581 votes
    7y

    @Michael Swope I agree with Cali being expensive on real estate. Give us a shout, we can help you search for investment properties around our area. We're pretty open and will even help you analyze, look at rent rolls and projected cash-flow, regardless whether you need management or not, we just like real estate and do it regardless. 

    [email protected]810-844-1104
    0Reply
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