All Forum Posts by: Chris Igard

@Joe S. @Lucas Thomas as I said earlier Joe you need to get information from someone specific to the area. Someone provided a blanket statement on housing vouchers. If I were buying homes exclusively on the west or east side of San Antonio then I’d  agree.  Fortunately for you San Antonio is a large city and there’s different pockets of C, D and F neighborhoods. I think if you understand that and you screen properly you’ll be successful.  When people mention A properties you either have to have a high paying w2 or come into a good deal of money in order to make them work most people can’t afford to $60-75k down in a down payment and closing costs.  

Everything brought up is valid but it’s all relative.  If you’re hearing this from veterans in the specific area(s) you invest in the arguments hold more weight.   You can purchase a home in any neighborhood and rent it to someone with a voucher it’s not exclusive to C and D neighborhoods.  A few other points that were left out, if you’re a great landlord and you vet properly a family on section 8 or veterans housing “vash” will more than likely live in your property for 5-10 years or longer.  Someone mentioned you have a better pool to select from in A or B neighborhoods.  I would definitely rent a place in a B or C neighborhood and I would argue you have a better chance of finding a high quality tenant because there are more people to choose from. I can find hundreds of applicants for a place at 1800 to $2500 a month versus the half dozen that want to rent out a $3500 to $4500 home.  Long story short I want to thank everyone that says section 8 sucks. I’ll gladly rent to anyone that’s interested that meets our requirements. 

Great advice, hadn’t looked at it from that angle. 

 Nick would it be smarter to put 5 percent down, pay the $3k in closing costs and invest the money elsewhere? I’m taking a risk in the assumption that the interest rates will or may go back down sub 5 percent.  Secondly, I can invest the $7k I’m saving elsewhere and double or triple the money I would use now to purchase another home in the near future.  Just wondering if I’m over thinking it for $7k. 

Hey folks I’m going to live in this home for a year or so then turn it into a rental. Financing rate is the smartest one to choose if I want to continue to purchase nhomes down the road. Pic 1 is the interest rate paying 10 percent down and the lender giving us 6 percent in closing cost coverage. Pic 2 has us paying 5 percent down, in that instance the lender will only cover 3 percent of the closing costs. The third pic is ten percent down with us us buying the rate down to 4.5 percent. The home is $203k my thoughts are that I should pocket the approximately $7k and save it for another house down the road. It would take 6.5 years for the savings to catch up. Just wondering what the smart choice would be for smart businessman. Thanks in advance. I should be able to rent the property for  $2400-2700 when I move.  

I don’t know John I’m not sure if financing a loan to the bank and to a private financier would make much sense.  

Thanks for the replies. I get the moving forward approach but I think it’s in my best interest to report it.  Unless it’s some arduous task or costs 100s of dollars I’m not sure why you wouldn’t.   I’m not concerned with getting the money back. It’s the principal of the matter.  Thanks 

I posted this earlier but I think it was confusing.   I’d like to know if I can report this broken lease on their rental history.  Secondly if they leave the place trashed can I file it on their credit report.  thanks in advance.