What Are My Options?

[Mitch Price]

Im going to explain my situation and maybe someone can help me out. Im trying to see if I have more options than I realize. I have a duplex. Currently have one side Airbnb and rehabbing the other side for Airbnb as well. Im thinking about switching to Section 8 for the guaranteed $$$$. I keep running out of cash due to rehab needed, so the second unit is stalled and not cash flowing. I am going to start wholesaling to build capital.  I do have great equity in the property as well, but my credit is not the best at the moment. I need to know am I missing something, what are some creative options I should consider?

[Nathan Gesner]

Originally posted by @Mitch Price:

Im going to explain my situation and maybe someone can help me out. Im trying to see if I have more options than I realize. I have a duplex. Currently have one side Airbnb and rehabbing the other side for Airbnb as well. Im thinking about switching to Section 8 for the guaranteed $$$$. I keep running out of cash due to rehab needed, so the second unit is stalled and not cash flowing. I am going to start wholesaling to build capital.  I do have great equity in the property as well, but my credit is not the best at the moment. I need to know am I missing something, what are some creative options I should consider?

I would not recommend using Section 8 as your solution. With rent rates increasing, you may not make as much with Section 8 as you do with the open market. And - in my personal experience - Section 8 tenants are more likely to cost the owner money in the end than a standard tenant. Others have a better experience, but just be careful with thinking it's a magic fix.