Need help with a deal, I have a tenant (Atlanta, GA)

[Kanwar Sodhi]

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.

[Patti Robertson]

@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.