NOT SO GOOD NEIGHBORHOOD

Not a bad idea that"s usually what investors do in low income neighborhoods. One problem that you might come across is keeping the property filled. In low income neighborhoods people tend to move in and out more. So you should screen your tenant good and try to see in the past years have they been jumping around alot or steady in one property. The good thing about section 8 housing is that your check is always on time every month so you dont have to chase anyone down for your rent. Also if possible try to get a feel for your tenant as in seeing what their plans may be if they plan to stay for a while or a short period of time. One more thing is that if the city is planning some up and coming construction in or near by your investing area that could also raise the Fmv of your property in the future and bring that neighborhood up. I seen it happen many times where low income areas with crime turn into middle class neighborhoods over the years. Take care and GOD Bless.

I like that strategy. That is what I had planned to do also in not so good hoods. buy low rent sec 8 for good cash flow.

WHATS UP B.C., HOPE ALL IS WELL

HAVE YOU FOLLOWED THROUGH WITH YOUR STRATEGY? IF SO HOWS IT WORKING... WHAT HAVE YOU DONE SO FAR TO MAKE SOME CASH?

Hey Mike. No i didn't get it done yet but am active in getting it done.
I am trying to hook up with a new partner that I can trust and that share the same pricipals as me.
I will get it done soon. I have been busy trying to make contacts and calling fsbo.The RE club I have been trying to attend has put off another meeting,2nd month in a row!!! I am frustrated because i was looking forward to going. there were like 80 investors in that one. But I may have to try another because i have a feeling this one is shutting down because no one is running it anymore.
Keep working at it and you will succeed. Like i say,IF YOU TRULY GIVE IT 100% YOU WILL SUCCEED!. To me like anything, there is no way you cant't when you go 100% at it.
You can have anything you want in life as long as you are willing to work for it.
great words from my grandfather that i never forgot since i was 12 yrs old.
He is correct.

whats up B.C.

have u bought your first prop?

Congratulations on taking action and looking into some potential deals. You may want to canvess the local area neighborhood and see how many other rental units are on the market and see what homes may be selling for within a 1 mile radius of the property. This may give you a better value of rental income and value of homes.

You may also want to contact the local county or city office in your area that handles the HUD section 8 program. Inquire how much rent is offered for a 2 or 3 bedroom. Also, inquire how long it takes to get the property approved for the program, find a tenant and receive the first rental payment. Another investor at a local rei club meeting stated he had luck with Section 8, but it takes him about 90 days to get the first tenant in place. Thus, you have to carry this cost with cash flow. Once you find out some of this information you may be in a better position to decide on the area and offer. I hope this helps. Good luck with REI. Believe and Achieve! - Joe