Duplex, south central Ohio, freshly rehabbed with quality Section 8 tenants in place.

[Stephanie W.]

I am just testing the waters to see if BP members think that I would have any trouble selling a duplex, in the heart of Hillsboro, Ohio, completely renovated with brand new, quality Section 8 elderly tenants in place. I have a decent contract pending to buy such a property but I don't know how well turn key properties sell. Are they in demand or should I just rehab and try to sell vacant? I'm new at flipping, I've been a buy and hold girl for years, and I thought this was a good enough deal to jump in feet first. The rehab will bring the place up to where anybody wouldn't mind mom or sister living in it. :-) What say you?

[Stephanie W.]

Section 8 would not be the only market, however I am friends with the Mayor of the town and he assures me that there is a desperate need for low income housing. With that in mind, I am optimistic that we would have the 'pick of the litter' and with all new everything in the property, inspections should be an all clear. I have two section 8 tenants now and just couldn't be more pleased with both. They are considerate and clean and take good care of our property. They're long term tenants who have no intention of moving. The positive side of these folks is if they mess up, they get denied support from then on so there is a huge incentive to 'behave'. I'm sorry your experience wasn't so pleasant. And to answer your question as to 'how I would know they are good tenants', I have five properties, 8 doors since 2010 and have never had even a move out. I'm very very particular. I don't have a blog that discusses this issue, but Brandon's tenant screening handbook is the best in its class.