All Forum Posts by: Jackelyn Lee

First, let’s talk about the duplex. With the numbers you’re sharing, it sounds like you’re about to hit a break-even point (or close) once it’s rented. If it’s bringing in $1,200/month with a solid PM, the cash flow could be worth the headache you’ve already gone through. BUT if you’re burned out or think it’ll continue to be a money pit, selling at a loss might be better for your peace of mind and so you can redirect your focus to flipping in your market, which you already love and have success with.

As for the SFH next door, $775 rent on $65k all-in isn't terrible if it's a solid property that won't need major work going forward. You could consider keeping it if you think the area has potential for appreciation or if you've already invested enough to make it stable.

I’d recommend finding a PM who understands working with out-of-state investors. One man show probably wont cut it. (Are they actually licensed with the state to be doing that?) Call around to multiple PMs until you find one you like.

IWeigh the stress vs. potential returns. If these properties are just draining your time and energy, it’s okay to cut losses and reinvest in what’s working for you in CA. But if you can stabilize these with a good PM, it could be worth holding for cash flow in the long run.

Time and stress is money. Don't sacrifice your peace. Good luck!

4 Votes

I help run a property management company alongside my husband, Andrew who is the broker of LPG Realty. Feel free to reach out and we’d love to help you out in Toledo.

2 Votes

Toledo, Ohio

Quote from @Ryan Pyle:

Rent to a market rate tenant. S8 in Toledo is not worth the trouble. Terrible communication.

It’s true. We try so hard to make our properties wonderful and somehow they will still find BS. The whole process in Toledo needs a total overhaul.

1 Vote

We're so excited to be hosting all of you at BPCON2024 in Cancun this Oct 6-8th! The best part of the BP community is that the fun doesn't start or end with BPCON with options to connect and learn year round - so let's start before we get to BPCON with a round of introductions. I'd love to learn about the following from all of you coming to BPCON

😁 Your Name - Jackelyn Lee. I am an investor, the owner of a property management company, managing 550+ units in the Toledo area, and a remodeling company.
🧠 What would you consider your area of expertise - real estate related or not! - BRRRR Strategy, using your w2 income to scale your portfolio, property management
🙌 What are you most looking to get out of BPCON 2024 - New connections in different markets, making some new internet friends with similar mindsets lol, motivation
🤝 Fill in the blank: If I could make a great connection with someone who is an expert in _________ at BPCON2024 then I would leave BPCON happy - Private lending
🗓️ What session are you most looking forward to? -

0 Votes

Quote from @Phillip Dakhnovets:

Hello, my friends,

My name is Phillip Dakhnovets, and I have recently moved with my family to the Toledo, Ohio, area. We are absolutely in love with the amazing park system, the beautiful Maumee River, and the local hospitality.

In my real estate investing career, I have been fortunate to visit and analyze properties all around the country. Like most people on this site, I opened Zillow and selected the greater Toledo area as soon as I knew we were moving here. Over the past couple of months, I drove all around the city to see firsthand how good the deals really were, and here is what I learned:

Toledo has a LOT of investment property deals. I thought the 1% rule properties were all gone—but not in Toledo. The city has a great infrastructure and a strong manufacturing presence. People are hardworking and resilient. There’s tons of inventory at realistic prices. From my experience, these factors are the secret sauce for a long-term growth investor.

My family absolutely loves the city, and we are fortunate to call it home. We look forward to growing in the area and connecting with the real estate community. Please shoot me a PM if you would like to chat or just say hi.

All the best,

Phillip Dakhnovets

Guardian Property Management & Maintenance

Welcome Phillip!

We are glad you are here! I also am not a Toledo native, but love living, investing, and running a business watching others succeed here.

What are some of your goals?

0 Votes

Toledo, Ohio

They do not value a property management company's time and resources. They should hire their own W2 employees and manage themselves. I wouldn't even entertain something like this personally.

2 Votes

Toledo, Ohio

Quote from @Anthony Roberts:

Quote from @Jackelyn Lee:

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

I'm new to BP [first post] and really new to the Toledo Market. I have purchased and renovated a couple of SFHs and am having some difficulties finding good tenants. Any processes to share and/or tips/recommendations?

Thanks,

Ant.

Hi Anthony, are you local and managing yourself or out of town? If you're out of town, then yes, you need a good PM. Shameless plug for LaPlante, reach out to @Andrew Fidler for more info on what we do, which is everything.

If you're local and managing yourself, it's a great way to learn the entire rental process: acquisition, renovation, leasing, management, turnover. But, it also depends on where your properties are. If they're in D class neighborhoods (or even lower C class as well), then your options are pretty limited. You can't make a filet mignon with ground chuck beef if that makes sense. To get a better pool of potential renters for you properties, you have to be in areas where they are going to want to live. You also need to have an above average house for the neighborhood to give them.

If you're leasing yourself, you really can't go too wrong with Zillow. I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me.

Bottom line is that it's a learning process. You'll figure out what works best for you, but be ready to learn the hard way along the way. Best of luck to you.

Many thanks for the metaphor [makes sense], advice and the plug. Hit the nail on the head, I will manage these to learn and to temper my expectations regarding PMs. Just trying figure out how to get a good pool of applicants.

Toledo Area Rentals Facebook group for prospect tenants

Jackleyn is the admin and runs it well

Much success

I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad!

Scam and spam? Unfamiliar with what you're referring to. Is there something w/ one of the comments I should be weary of?

Thanks, Jackelyn.

@Engelo Rumora mentioned I run a rental page on Facebook. I created it because the other pages were full of scam listings and spam and weren’t kept up with. Lots of people looking for homes on that page.

1 Vote

Toledo, Ohio

Quote from @Engelo Rumora:

Quote from @Anthony Roberts:

Quote from @Dave Poeppelmeier:

Quote from @Anthony Roberts:

Hello BP Family,

Thanks,

Ant.

Toledo Area Rentals Facebook group for prospect tenants

Jackleyn is the admin and runs it well

Much success

I just couldn’t deal with the scam and spam in the other ones! It’s beyond bad!

1 Vote

Toledo, Ohio

Hey Cameron, go Falcons!
I am a BGSU grad, full time real estate investor and owner of LPG here in Toledo. I’d love to connect.

1 Vote

Toledo, Ohio

Quote from @Danielle McMurphy:

I’m looking for investor friendly agents in the Toledo market. I’ll be investing in property out of state in as I live on the West Coast, but am looking to grow my connections over in Toledo and work with an agent who is on the same page as me. Also any recommendations for handymen, etc is greatly appreciated. Thank you guys!!!

Andrew Lee with LPG

0 Votes

Toledo, Ohio

All Forum Posts by: Jackelyn Lee

Jackelyn Lee has started 0 posts and replied 42 times.

Post: Kind Distance Frustration

Post: Toledo I need You. New Investor, Looking to connect and learn.

Post: Over zealous section 8 inspector

Post: Pre Event Intro - If you're coming to BPCON2024 let us know who you are!

Post: WOW, Toledo is the future!

Post: ATTENTION PROPERTY MANAGERS ‼️ I Need Your Help

Post: Finding good Tenants in Toledo

Post: Finding good Tenants in Toledo

Post: Eager to learn New Member from Toledo Ohio

Post: Looking for agents!