Toledo bank-financing friendly turnkey provider?

Question

Hi everyone,

I am looking for a turnkey provider who is amenable to me using 75-80% bank financing on their properties. Also, I would like to pay for my own home inspection report. Does anyone know a reputable company in Toledo who is open to these terms?

Account Closed · Answer

Sean, 10% CoC is to low for Toledo

Rebecca G. · Answer

@Michael P. I agree with you.

Stephen Brown · Answer

Highly depends on where you want to invest in Toledo! Most investors like around 15%, but if you invest in areas closer to the suburbs you're going to see numbers around 10%. Let me know if you'd like more information.

Sean Dezoysa · Answer

Good to know, thanks guys! What cash on cash returns are you targeting then? Maybe in the 12-15% range?

My expectations might be a bit lower than a local, since I expect to buy higher and also have higher expenses due to paid management.

Jim Moody · Answer

Exceeding a 10% ROI is achievable...besides obvious factors deciding to hold heavy on reserves, being conservative on occupancy and a host of other smart moves may drive ROI lower but help prevent ‘oh snap’ moments.

One thing people who look to Toledo too often do is simply look at ROI and fail to understand neighborhood and other dynamics here.

Another thing to determine is how small a loan your bank will do. Too often banks will not lend on <$50/k mtg.

Sean Dezoysa · Answer

Hi @Jim Moody, I am still ironing out my criteria, but one thing I believe I will go with is a 10% cash on cash return.

Jim Moody · Answer

I might consider this… What is your required minimum ROI?

Toledo bank-financing friendly turnkey provider?

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