Why Glass City Realty?
We specialize in finding the best transactions – meaning the best quality and location relative to the/at the lowest price – which means higher return for you. We take care in finding the most attractive wholesale properties, to then pass on to our clients. Also, we look at investments that will make you money through rental income – meaning that the sale of your property to be income free and clear after you pay off your investment.We use our 30 years of experience to know the ins and outs for the best deals and then share that savings with you. We strive to do the same with all of our services.
The Glass City Realty Team can help you:
- Make a Great Deal
- Fill stubborn vacancies when they occur and overall maintain high occupancy in your holdings
- Make financing and capital arrangements
- establish cash flow targets
- find a nearly perfect location for your budget – no matter how large or small in Ohio and Michigan
- help you arrange good legal and tax counsel
- Overcome Negative responses
- execute on Turn around value added opportunities
- sell to your advantage
- navigate the world of investment real estate to achieve financial freedom
It’s a great time to invest…
- Demand for rentals is over whelming and rental rates are increasing!
- Apartment buildings are becoming an increasing asset class – very sought after!
- Interest rates are at their lowest levels in almost 50 years!
- Half of all homes between 2010 and 2020 are going to be rentals.
- When seniors move, a majority are choosing rental housing.
Investment Services We Offer:
Buyer Representation - We know how to help you buy at the best wholesale prices!
Seller Representation - We know how to customize a sale program in all situations – to achieve your objective.
Example: 1050 Hugo – R. Pelc, Seller – “I am thrilled to get my home sold so quickly!”
Challenge: 24 months on the market without success with another realtor.
Solution: Listening to GCR’s expert advice in making minor repairs and changes, accepted offer within few weeks.
2012 Improvements in the Toledo Real Estate Market:
Based on Sales of single family homes in entire MLS
Cash on Cash Return
= Property’s Annual
Net Cash Flow
- This formula evaluates the long term performance of an investment.
- For a single-family investment, a 17- 25% return is attractive;
- For multifamily investments, a 15% or more is attractive.
- In general, the higher the return, the more attractive the investment.
- We are always looking for properties that provide our clients with the highest possible returns.
Gross Rent Multiplier
= Gross Rental Income
GRM of Property
(between 4 – 8)
- The GRM in Toledo ranges from 4 to 8 depending on location, condition of property, etc…
- It gives you an idea of property value.
Net Operating Income
= Gross Rental Income
Vacancies and Rental Expenses.
- This is the total of the gross rental income less vacancies and rental expenses.
- It does not include mortgage payments or taxes.
= Rental Net Operating Income
Property’s Fair Market Value
- This ratio is used to provide value based on the generated income – before interest
- A higher CAP Rate is more attractive.
Return on Investment
Net Cash Flow
- This is the same ratio as cash on cash return, but including the mortgage payments.
- The total amount is the taxable profit.
Debt Coverage Ratio
=Annual Net Operating Income
Property’s Annual Debt Service
- This ratio measures your capabilities to pay the monthly mortgage payments from the income generated from your rental.
- Banks use this to decide whether or not the property will be profitable enough to cover expenses and pay back the lender.
- A debt coverage ratio of less than 1 indicates that there is not enough to pay the expenses as well as the mortgage.
- The higher the ratio the more likely lenders are to work with you.
Please feel free to leave your search criteria for us so that we may keep an eye out on the best properties available for you. We will send you the best properties that meet your criteria whenever we see a great one.
Thank you very much for your prompt reply. I am very happy with your work.
I really appreciate your timely responses whenever I have a question or concern.
The process of hiring Glass City Realty to manage my property was easy and smooth. I was amazed at how effective their marketing was, making it quick and easy to get my property occupied. The knowledgeable and responsive employees give me piece of mind that my home is in the right hands. I wish I would have done this sooner!
I am thrilled to have my home sold so quickly!
You guys are SO GREAT!!!
You made this process as easy as possible from the original contact through the closing. I would also like to mention the helpfulness and courtesy of your office staff in any dealings I had with them!
Thanks for your feedback and advice! Your plans are reasonable and appropriate. Thanks again for your assistance.
Perhaps Toledo has fallen on hard times in recent years.
But, I see a BIG comeback coming.
The population has actually increased last year for the first time in many years.
There are many good sources of employment.
And (obviously) I see Toledo as a very good rental market.
Such a great help whenever we had questions!
Thank you for all the work you are putting in!
I want to let my previous property manager know managing with her just is not going to happen!
Thanks Very Much Scott for your great news!!
I want to thank you and all your crew for all the help you’ve given me.
Just keep that cash flow coming…and we’ll ALL be happy!
I like the sound of this property and I trust your judgement!
That is fantastic news! And we really appreciate the work on this!
I like to thank you for being so helpful and informative per our last conversation.
Appreciate your assistance with provided the photos and the information, we are very happy with results.
I spoke to our accountant and he was very happy his rental property is now filled as well.
Many thanks, this was helpful.
Thanks for your on-going support!
Thanks for getting the report to me. I appreciate it.
Wow!! The place looks beautiful. The house looks better than my house in Australia. Thanks for the photos once again.
The online reports are great!
Once again thank you for your patience and support in introducing these properties to us.
Thanks for the hard, quality work from your company!
Thanks for all this great work! We appreciate it! All sounds good.
Thanks for following up with me, team! Really appreciated.
It’s nice to have the process running so smoothly!
I’m very grateful having people like you on my Team. Keep up the great Job!
I appreciate your diligence.
You guys are doing a good job. Well Done!! Keep up the good stuff!!
Thanks very much everyone for your help – appreciate it.
I REALLY appreciate all your help!!!
Very good! As I said before, I’ve been pleased with my interactions with you, and am looking forward to continued partnering with you.
That’s great news,team! you’re doing a fantastic job!!
Thank you for your kind words and understanding.
Thank you for helping us get this deed recorded. We are thrilled to finally be able to move forward with this home. I want to personally thank you for your time and patience.
Thanks for getting everything taken care of in such a timely manner. I’m so happy for you to be taking over my property from the old property management company.
Great work! Once again thanks for getting it rented.
I logged on today and saw that the Lower unit is now leased (hooray!) and thank you for that.
We appreciate all your work over the last few years and will recommend you to our fellow home owners.
TenantYou guys are always so helpful
Your leasing agents were so amazing to work with! Place or no place, you made my experience in Ohio a good one so far!
OwnerWe so appreciate the hard work you have been putting into our property! I am beyond thrilled with working with you. :)
We would like to continue our relationship for at least another year (2013) – I really appreciate all of your work
Thank you- You are the best!
I have heard many great things about you and look forward to working with you!
OwnerThank you for the great news about my property!
Thank you for your time and concern in representing us successfully.
OwnerI wanted to express my appreciation to you and your staff for helping me get my property rented at 1917 Waite Ave.
The entire staff (Hannah, Amber, Jay & Anne) were all very professional and attentive to my needs. I was pleased with their prompt responses and attention to details. Because of the service I received at Glass City, I would not hesitate to call you again for my property needs, as well as refer others to your agency.Thank you for everything.