All Forum Posts by: Account Closed

Greetings everybody,

I recently became aware of investment opportunities in Toledo, Ohio (not to mention other cities in so-called flyover country). Whereas it's tough to find properties in my area that meet the 1.5% rule, it looks like 2% rule properties are all over the place in Toledo!

I'm definitely interested in getting a few rentals in Toledo to diversify and to get some strong cashflow. I've also heard of people who do lease options, wherein they buy somewhat distressed properties, have them rehabbed, rent them out for a couple of years, and then sell them, at a profit, to the tenant-owners. Perhaps that's something I can get into later.

But for now, I'd really appreciate any and all feedback about Toledo. I'd like to know the usual stuff--where to buy, where to stay away from, what property managers you recommend, as well as contractors, home inspectors, real estate agents, possibly a lawyer and others.

Ideally, I'd like to find a strong network of professionals so that I can buy a few SFHs or multifamilies--say, ten units or so--without necessarily spending much time in Toledo myself. I've even heard that it's possible to close on properties remotely, and that's something that might be appealing to me, too.

I've already got an accountant and a financier contact, but one of the issues I have realized is that most banks don't want to do RE loans that are less than $100,000. Does anyone know financiers who work in the Toledo area, that can finance small RE purchases, or perhaps several small RE purchases at once as a bundle?

All help is greatly appreciated, and thanks in advance.