Real Estate Agent · Chantilly, VA · Member since 2016 · 245 posts · 61 votes
Hi I met somebody that is moving to Atlanta Georgia from New Jersey possibly next month and the lady and her husband have 8 kids but they are looking for a four bedroom apartment (I believe five out of the eight kids will be staying there I don't which a few of them are little kids ) and they said that section 8 will pay up to $1600 a month. They're willing to do a one years lease or more. Please let me know if anybody would like to help me find a place or get in a deal with me to somehow make this work. I am new at this so I am definitely willing to learn.
Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
9y
@Kanwar Sodhi - Your intentions are noble, but there is much to be considered. We are in a beach market, so we get calls all the time from voucher holders who live in other parts of the country and say they want to "port in" to our market. In our case they are calling on properties we have advertised, and it would be a waste of everyone's time to even discuss what's available NOW, when they don't even have a voucher in our area. The process of porting their voucher from one housing office to another takes about a month, when all runs smoothly. Then once they get a local voucher, the absolute fastest we can possibly get them moved in is 20 days from the day we turn their paperwork in. Usually it is closer to 30 days. It's a waste of time to talk about a property that I'm not willing to hold for 60 days. I tell them to start the process and then call us back once they know what day they will have their appointment to pick up their voucher and RFTA (Request for Tenancy Approval - IE - Landlord Packet). We will only show property to someone who already has their RFTA issued and we have them bring it to the showing.
In your case the timing isn't as much of an issue, since you don't even own the property yet, but It would be crazy to buy a property for a specific tenant, who may not even end up porting to your area, and if she does, may not end up liking your house. That doesn't mean you can't rent it to somone else if you find a great deal. Just make sure you pick an investment house that works for you as your number one priority. There are plenty of properties for this lady. Don't try to be her knight in shining armor. That doesn't work in business any better than it works in personal relationships.
Love your intentions! You will make a caring landlord. Just make sure you make purchasing decisions with your head over your heart.
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
9y
Just be aware, that there are whole sections of Atlanta, that are black listed by section 8. There can not be a boarded up house on the same street, which leaves out many areas in 30310 and some other zip codes where prices are lower.
Real Estate Agent · Chantilly, VA · Member since 2016 · 245 posts · 61 votes
9y
Thank you Michaela G. for that advice, this lady was basically in distress in New Jersey & has decided to move down here for a good opportunity for a better life and is looking or trying to stay in a nice neighborhood. I would believe she herself wants to avoid any neighborhood with boarded up houses but for the purpose of legality, thank you :)
Real Estate Agent · Chantilly, VA · Member since 2016 · 245 posts · 61 votes
9y
Doris Logan , I actually do not own any property but I am looking for a way to invest in one and help this lady find a good home and simultaneously get my feet wet in real estate. I'm looking for advice and or even financial help from an investor so we can get the ball rolling on this particular prospective tenant
Real Estate Agent · Chantilly, VA · Member since 2016 · 245 posts · 61 votes
9y
Greg S. , I understand where you're coming from considering you have a million more times experience than I do, she said she has eight kids but is only bringing down five of them, and this all can be reconfirmed because I do have her number. I just thought this was a good opportunity to help someone while helping ourselves. It could be a train wreck which we can control and save
Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
9y
@Kanwar Sodhi - Your intentions are noble, but there is much to be considered. We are in a beach market, so we get calls all the time from voucher holders who live in other parts of the country and say they want to "port in" to our market. In our case they are calling on properties we have advertised, and it would be a waste of everyone's time to even discuss what's available NOW, when they don't even have a voucher in our area. The process of porting their voucher from one housing office to another takes about a month, when all runs smoothly. Then once they get a local voucher, the absolute fastest we can possibly get them moved in is 20 days from the day we turn their paperwork in. Usually it is closer to 30 days. It's a waste of time to talk about a property that I'm not willing to hold for 60 days. I tell them to start the process and then call us back once they know what day they will have their appointment to pick up their voucher and RFTA (Request for Tenancy Approval - IE - Landlord Packet). We will only show property to someone who already has their RFTA issued and we have them bring it to the showing.
In your case the timing isn't as much of an issue, since you don't even own the property yet, but It would be crazy to buy a property for a specific tenant, who may not even end up porting to your area, and if she does, may not end up liking your house. That doesn't mean you can't rent it to somone else if you find a great deal. Just make sure you pick an investment house that works for you as your number one priority. There are plenty of properties for this lady. Don't try to be her knight in shining armor. That doesn't work in business any better than it works in personal relationships.
Love your intentions! You will make a caring landlord. Just make sure you make purchasing decisions with your head over your heart.
Just be aware, that there are whole sections of Atlanta, that are black listed by section 8. There can not be a boarded up house on the same street, which leaves out many areas in 30310 and some other zip codes where prices are lower.
That is very interesting! SEC 8 does't have this restriction in our area, but I generally use this as part of my buying criteria. I don't want to own in neighborhoods with lots of boarded up houses.