All Forum Posts by: Dave Poeppelmeier

@Jill F. My bad, California and Oregon are who extended through June. I'll bet $1 that the Feds kick it down the road some more this year, despite the declining overall numbers. 

I provide people good appliances. I feel that if you give people good stuff, they take care of it (for the most part). I buy base model stoves/washer/dryer and an appropriate sized fridge for the house (smaller for 2br, bigger for 4br) from Home Depot for the free delivery and fairly priced setup. It gives me peace of mind if nothing else that people aren't trying to cook on a stove where only 2 of the 4 burners work. 

@Michael Temple Yes, I saw that. I was wondering what judge was going to put their head on the chopping block... Gotta love Texas. You're right, it will be tied up in litigation well beyond the end of the official Pandemic, which will hopefully be at the end of this year. In the meantime, we are just planning on weathering the storm of the Moratorium. 

Hi everyone, in case you haven't heard, and judging by the attendance you haven't (Sorry, couldn't resist the Major League quote there), the Federal Eviction Moratorium has been extended through June. With that being said, Toledo Fair Housing has a good resource page on what this means for Residents as well as Owners, as well as a link to the City of Toledo Rental Assistance Program: https://www.toledofhc.org/covi... 

There is also still money available from the Ohio Rental Relief program from last October. If you contact your local Community Action Agency, https://oacaa.org/agency-direc..., you can see if Residents would qualify for this Ohio aid. 

What has everyone else been experiencing recently with the Moratorium? 

Hey Ben, that's great that you've found your passion. Rich Dad Poor Dad has had that affect for so many people. I really like some of the above suggestions: work in Property Management, house hack, etc. I would just say really work on your knowledge base right now and save money to get into a duplex to house hack. As hundreds of posts on BP indicate, Inventory is pretty tight right now, so you're not just going to go pick up a duplex easy-peasy. Sock away money for a down payment, go get an FHA loan with a low down payment, and find a decent little duplex. Let's be honest: you're not likely to hit a home run right now just starting out. Find a local Realtor that knows Investment Property (they're all going to say they can help you find a duplex, make sure they are looking through an investor's eyes), they can likely refer you to some local lenders they know and trust. Don't try to hit a home run right now, there's nothing wrong with hitting a single with a decent little duplex you can live in for a few years. That will also help you learn what it takes to manage a property/be a property owner. Best of all, if you find you don't like being a landlord, you turn it over to a Property Manager and let them do it for you or you just sell. Best of luck to you!

Hey everyone, with Investors flocking to the Midwest for all sorts of reasons (affordability, cash flow, etc), @Andrew Fidler, @Mike Mocek and I felt that Investors needed to know more about Toledo, Ohio. We have started the Toledo Investment Podcast, which highlights the local investing environment, reasons to invest in the area, and all sorts of other topics that highlights why Toledo is a great place to invest. It's currently available on Podbean, Google Podcasts, and Spotify, but will be available soon on all of the major platforms (Apple, Amazon, Pandora, etc). Enjoy!

https://www.toledoinvestmentpo...

https://podcasts.google.com/fe...

https://open.spotify.com/show/...

I guess my question is do you feel you have to move and house hack to be able to invest? Moving across the country, especially with knowing anyone, is a HUGE leap of faith. I was lucky when I moved to Seattle in that I turned one luke-warm connection into a social network of good friends, but that was very fortunate. You can invest in many areas of the Midwest with much less money than you would need to do in SLC and not have to move. I would add Toledo to your list of affordable places in the Midwest if you're looking for good cash flow and low entry points. But if you're looking for a great life adventure, then go for it! Buckle down, save a good down payment for a duplex/triplex, put a strong offer in and do it! Moving across the country and giving myself a fresh start was one of the best things I ever did. I hope this helps. 

@Joseph Stamper you can find duplex properties here in Toledo under $100k in decent neighborhoods, but the multifamily market is super competitive here like in most areas. Like anything else, what are your investment goals? Regardless of the price range, is your Net Operating Income and Rate of Return going to be worth it? Duplexes usually go under contract in a couple days if they're in good condition and reasonably priced, so you need to have your Pre-approval ready to go. Like @Spencer Abeyta and @Aubrey Tatarowicz said, you will need a Realtor that knows Investement Properties and a good Property Manager wherever you go. Let me know if you want to talk about Toledo more and what's available. 

@Willie Bradley sure pm me

Hi Jose, I think you're right on the House Hacking idea. You also don't need a bustling city to make money in Real Estate. I'm not too familiar with Marshall, but it seems to be a too-big-to-fail school, so there will always be the Student population. You just have to become familiar with the culture of the school. Where are the "student" neighborhoods? Try to network with some local owners and find out what a "nice" place rents for vs a run-down crash pad rents for. I've had much more success renting nice homes to student, I find they take care of them much better than giving someone a dump to live in. When is the Student Rental season, Fall or Spring for the following year? Also find a Property Management company that knows how to handle Student Rentals while you're there to take over managing your investment when you and your wife take you wherever your careers take you. Not just any PM company can run Student Rentals, there's an Art to it... Good luck!