All Forum Posts by: Asim Sheikh

@Dmitriy Fomichenko - thanks for the detailed information!  I will reach out to them and investigate further.

Thanks @Jay Hinrichs!  Any recommendations on brokers would be greatly appreciated!

@Jeff S. - thanks for the detailed response Jeff!  Are there any particular ones that you would recommend, as I have read about Fundrise and similar companies, and have been turned off by some of the information that I uncovered through my research?  It seems that most of these companies tend to garner negative reviews, no matter how much shiny marketing information they tend to share on their sites or on other forums.  Ideally, I am interested in getting double digit returns on my money.  Thanks again!

@Allan Smith - thanks for the reply, and would love to get the names of the individuals that you referenced above!

Hi All - I would love to get the thoughts of this community around whether individuals can invest with hard money lenders and earn passive income in the process.  After all, these hard money lenders also need sources in order to fund potential customers, and so, would love to hear from everyone who has experience in this space.  

Thanks in advance!

I have heard the podcast, and read some great articles from @Joe Asamoah about section 8 housing.  I am wondering whether anyone has any experience if there has been an impact to the section 8 voucher program as a result of the entire Corona virus situation. Would love the thoughts of everyone in this community!
 

@James Morrissey - I have, and my two cents is that this should be used after you have some experience underneath your belt.

@Nicole Candelario - since it's difficult to get hard money these days, you can try to apply for a 203k loan, but, I am sure you are aware that these are always difficult to get, and there is a lot of bureaucracy involved in the process.  If you can be patient with this process, then I would say go for it, as you can get a package deal of the price of the property plus any rehab costs.  Prior to moving forward, please ensure that you run a thorough analysis to understand if you're going to come out ahead.

@Fola Babatunde - the process for renting out to someone on section 8 is no different than renting out to anyone else.  Your realtor or property manager would review these candidates to understand whether they meet your needs, based upon the criteria that you outline with these individuals.  If they do, you can then fully evaluate their background/situation to understand whether if would be a good fit for the both of you.

@James Morrissey - my recommendation would be to outsource the first 2 to either an agent or property management company, depending on the predominant method used by your state, and learn the process from them.  It would be easy for me to say that you should focus on credit score, employment check, background check, etc., but there is nothing that really beats the experience of working with someone who has done this in the past and learning from that individual.  For instance, even if I had a tenant who met all of my criteria, looked good on paper, I'm not sure I am personally equipped with "sizing up" that person to understand whether he/she would give me problems in the future.  This is why I prefer to always outsource this part of the process.