Just started looking in Toledo, OH for rentals to hold. I’ve already found a couple I can easily afford and they fit under the 2% rule. Any reason for this? Anything I should be looking out for? Sounds too good to be true! :help
Believe me, it’s not too good to be true. If you are investing from out of state, it will still be very difficult to make money! You definitely need to learn the market; look at the property; determine the rents; check the leases; determine any trends that are occurring in the area (is the biggest employer going out of business), etc.
Good Luck,
Mike
I’m down north of Dayton and there is ample opportunity in the area for both short term(rehab & sell) and long term holds. You can and should be very choosy as there is plenty available in Ohio. I have two closings tomorrow… one buy and one sell.