The best investment on earth is earth. –Louis Glickman
Housing is a big deal. People are scrambling to find homes, many of our area apartments are aging, and the area market is rife with opportunity to invest.
What comes with that opportunity is, of course, risk. Likewise, many younger people are just not ready yet to purchase but are looking for opportunities to rent outside of the limited (and often time overpriced) apartment options.
Enter the Toledo Property Investors Network (PIN), a group of individuals who either currently own rental property or help people get into property investing. This local group of likeminded investors is helping each other find financial security while helping renters find homes.
“The great thing about property investing,” says Carol Walls of the Toledo Property Investor’s Network, “is that it is both immediate and local. When you invest in a property you can see it, rent it, improve it, and if the time is right, sell it. With a little bit of knowledge and patience, anyone can securely and profitably invest in rentable property”
The Power of Group Think
According to a recent Forbes Magazine article, the number one trait of a successful real estate investor is knowledge. High up on that list is relationship building. The mission of the Property
Investor’s Network (PIN) is to gather local investors, from highly experienced to those just getting started, and use the group’s knowledge to successfully invest in rental properties.
“First and foremost,” says Walls, “PIN is an educational nonprofit designed to share our
knowledge about property investing, including how we write and maintain contracts and leases, current financing strategies, current laws and
ordinances, and of course sharing our experiences with vendors and contractors who we have had success with and who we might not recommend.”
Besides the local networking group, Toledo PIN is a part of the Ohio Real Estate Investor’s Association (OREIA), which provides members additional access to vital investing information along with statewide connections. “Our current membership represents over 2000 properties,” says Walls. “Although it is possible to learn all you need to on your own, why do it? No matter what problem you are facing, whether it be your first property or your tenth, someone in the group has probably faced a similar issue. That is an incredible way of increasing your chances of success.”
PIN on Display
Providing an expo of vendors, contractors, legal experts, and of course other landlords has become another mission of Toledo PIN. Now in its 4th year, the group’s Annual Expo and open meeting is a great way to investigate the possibilities of property investing.
“I always look forward to our expo,” says Walls. “First, even though I have experience in the area with property investment, getting a lot of the companies and vendors together in one spot is a great way for all of us to build our team and strategies for our business. Plus, talking to those who are new to this kind of investment gets me excited all over again and reminds me how much I love investing in real estate.”
During the meeting, an attendee can expect to hear from seasoned investors about strategies for buying and selling, what to look for in a property, and of course, the benefits and value of investing in property. Above all, many of the people at the meeting are dedicated not just to being profitable but doing so in a responsible manner. The meeting will be open and spacious, allowing for social distancing and safe interaction.
“In the broad scheme of things,” says Walls earnestly, “landlords want to make money. We are, after all, personally financing a property for rent. However, the more cost-effective we are as property investors and managers means that we can offer our properties at reasonable prices in a responsible manner. Our group is a great way of learning from each other so that we can avoid costly mistakes. Finally,” Walls says, “PIN will help you decide whether property investing is the right choice for you. No pressure, just local people who have come together to share their success stories. Thanks to groups like PIN, I have never regretted choosing to invest.”