All Forum Posts by: Dave Poeppelmeier

HI JD, I also live and invest in Toledo. I own houses around UT and do primarily Student Housing. One great thing about investing in Toledo is that there are A-D Neighborhood in Toledo proper and even more as you go out into some of the immediate suburbs. What are you looking for here in town? I'm a licensed Realtor with LaPlante Real Estate, where we also provide Property Management if you are looking to have things managed for you. PM me of you want to discuss anything further!

Regarding Toledo, it is a great town because we have everything from A to D class properties, it's a large population area so rental housing is always in demand, and a low price point of entry compared to other areas of the US as well as Ohio itself. One of the biggest plays in Toledo is cash flow, being in the Midwest, but there are suburbs of Toledo in Sylvania, Perrysburg, Maumee, etc that are desirable areas where home prices continue to rise, so you can expect some decent appreciation. The question is what are your goals and what are you looking for? What return metrics are you looking at: CoC return, NOI, something else? I am a local investor and licensed Realtor who also works with LaPlante Real Estate for Property Management, so let me know if you have any more specific questions about the Toledo area.

Gov. DeWine announced Ohio is offering $50M in rent assistance to lower income tenants who are behind or unable to pay rent this past Friday.

https://businesshelp.ohio.gov/...

https://businesshelp.ohio.gov/...

This program is beginning November 2nd and is available until the money is gone. Hopefully this can help people out (and property owners as well) as Covid-19 begins to ramp up again. Just FYI. 

@Andrew George Dennis Yes, lots of Hotels right off the Ohio Turnpike, easy access to Downtown Toledo and other major thoroughfares. I know that's one indicator that Airbnb should work well, but the lack of current Airbnb is what concerns me. @Mike Mocek that's what I was thinking, more business travelers staying for a week or two. 

@Luke Carl Actually it's already very nice inside, someone make it a separate living space and all it needs is the kitchen revamped. Plus, local zoning won't allow me to put 2 separate tenants in, but there are no rules on Airbnb. Hence my question. But thanks for your input.

I have heard great things about Airbnb and short term rentals. I live in a suburb of Toledo, OH and have come across a property that has a great 3/2 house that would be a long term rental, but on the property it has a separate building with a 1 bed/bath apartment above a finished garage with a full kitchen that would be a fantastic Airbnb. However, when doing some looking there aren't too many Airbnb in my area. I would think there would be demand since it is close to highways, population centers, The University of Toledo, and hospitals and it's in a nice quiet neighborhood. How have people determined location and pricing if there isn't a lot to compare to?

I own Student Rentals here in Toledo, and we have been 100% full for this school year. Obviously Toledo isn't a small college town, but we had everyone show up this fall to move in despite enrollment being down. My feedback from the students is that they want the college experience (as best it can be these days) and to not be home with Mom and Dad. I myself am always looking to expand my portfolio around the University of Toledo, because worst case scenario if UT has major difficulties in the post-Covid world, I simply rent to regular residents at slightly less rent for a bit. That's one thing to consider if you're looking for Student Housing, is buying in a city with that backup option. 

@Remington Lyman Dude, what is your beef with Toledo here on BP? Not every city in Ohio is the mighty Columbus , with $174k median home price vs Toledo's of $107k. Yes, it is appreciating very nicely as it's one of the biggest growth cities in the Midwest now. Everyone knows I'm a Toledo Investor and I think it's a great rental market to get into, especially if you're a new investor. The entry point is much lower, and I'll take the returns here all day long and not have to get into the Columbus arms race. @Jared Galde I would love to get together and talk Toledo RE, PM me and we'll set something up. I think you're investing in a great area.

@John Buzzard Hi John, regarding Property Management in Toledo, I'm an Investor in Toledo and Realtor with LaPlante Real Estate, and having seen several other Property Management companies and how they work, I feel we are the best in town. Let me know if you want to discuss further.

I had the Cat Pee from Hell house myself. There were hardwood floors under all of the carpet, and I had the carpet and padding ripped out, floor sanded down to the pure wood, and stained with polyurethane to protect. This was over approximately 500 square feet and it cost a little over $900. There was a 300 sq ft dormer bedroom that was also toast, so I did a really nice (because I was running out of time) vinyl plank, did it myself, and that was $1100. I agree, you're being ripped off by whoever is telling you to totally rip out the floors.