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Updated about 9 years ago,
6mo old investor
hello BP,
Im chris and im new to being an investor. To say im wet behind the ears would be an understatement. Currently, i own one rental property free and clear and i have a mortgage on the second, which is OO. I also have a roomate that pays me a monthly rent. Im looking to get into the buy and hold game. At present i have 707 CS and around 12k liquid. I have a day job but desire to be a full time investor. With the properties and day job income, im able to save 1.5k after paying all expenses associated with the properties and living.
the reason why im here today is i wish to learn. Ive read through so many positive responses to other investors question that i wish i joined BP much sooner. Ive been in contact with an investor who is looking to sell his entire portfolio. While i cant purchase the entire thing(24 C properties for 600k) i wish to buy 5 of them. The 5 that im looking at are section 8, have long term tenant,24%roi, and property management in place. This leads me to my fear and my questions.
What are your overall experiences with section 8 tenants?
Are there any banks that will allow me to close on multiple properties at once, or will i have to close each property individually?