All Forum Posts by: Boris Peyzner

I am not sure how this issue will play out but any of us real-estate investors that have section 8 tenants need to start thinking about this cut and what we can do to avoid getting hurt about it.  

Generally, the government cannot take away something from you with out a hearing.  It is a constitutional right to property.  If you get property from the government (i.e., money for rent) the government cannot just take it away without a due process.  However, it is an unfortunate truth that many section 8 tenants are under educated and do not have the resources to request a hearing from the government.  The reality is that there is always a shot that your section 8 voucher that pays you $1,000 a month could all of a sudden drop to $800 a month with the tenant responsible to make up the difference.  If they don't, you will need to decide between an eviction or eating the $200 a month.

We should all keep an eye on this and try to educate each other as we learn more about his plans.

P.S. google how much Trump has benefited from government funding for housing.  His dad built a good portion of his empire through government funding......now he bites the hand that fed him!

For those of you that rely on section 8 tenants, what are your thoughts about the effects that Trump's administration cutting section 8 funding will have?  

Personally, I don' think the net effect will be all that large.  I don't believe that Trump can take away section 8 from those that have it for no cause.  There would need to be rules in place for people to get disqualified.  Thus, if you have section 8 tenants, nothing will change there.  The issue is for new people to get section 8 funding but for those, who cares.  There are plenty that have it to fill the vacant tenancies.  Please let me know your thoughts.

Hello all,

I am looking to meet and hire a general contractor.  I have generally used the same contractor for the past 6 years to do all my rehabs.  Lately I have noticed his prices going up and his ability to finish jobs go down.  I have finally hit the point that I no longer want to work with this person.  I currently have three houses that need to be gutted with additional projects coming.  If you are a contractor in the North Jersey area, please message me.

@Brian McFarland I rent them all out. We started with one unit and using the BRRR method were able to size up quickly. I am happy to give advice.

I know this doesn't answer your direct question but if you got approved for $250k in financing I suggest you look at some of the "rougher" areas for multi family properties.  My last deal in East Orange was $160k for acquisition and rehab for a 2-family.  I now rent it for $2,700 a month with expenses of about $1,300.