All Forum Posts by: Brian Mendez

@Nina Granberry I think the rent is average for the area. Could probably be higher. I know the yearly inspection/evalution is coming up in October. I will hope the payout from HA may be adjusted and increased. This particular area I feel the rents have gone up. But I don’t know how realistic and reliable these comps can be with the unpredictable future effects of covid.

@Les Jean-Pierre, @John Britt, @Reynaldo Rodriguez, @Andre Taylor. Thanks fellas! I appreciate the info. Definitely gives me a bit more peace of mind, that this will not become a major issue going forward.

Hello Everyone. I am about two weeks away from closing on my first investment property. It is a duplex in Passaic County, New Jersey. One of the apartments will be vacant by the time of closing, which is the one I will be moving into. The other apartment is currently rented out to a tenant on a section 8 voucher or Housing Assistance Program. I am not opposed to keeping the tenant, but I want to make sure I do my due diligence. I am more concerned about the process to take over and receive the payments from the Housing Assistance Program. What must I do as the buyer? Is it the seller's responsibility to initiate this process? I have tried to contact the county's Housing office, but have been unable to reach anyone. If the current landlord does not notify section 8, will he continue to receive the rent payments? I don't want to be in a situation where I am not receiving rent for this section 8 tenant, only because this change of ownership is overlooked and the appropriate actions were not taken. I don't want to stall the closing, but it is a big concern, if I am inheriting this tenant. Any suggestions or advice would be greatly appreciated.