All Forum Posts by: Derrick Craig

@Jake P.

Welcome to BP,

You are well on your way to financial freedom, I wish I was in your position at age 25!! WOW!! LOL!!

FYI All of us on Bigger Pockets have GREAT advice/strategies on how WE see you should invest the $350k, just look over all the options read and learn more about each option and go with the option that YOU see fits YOU and YOUR family the best. It's great that you already have laid out your goals that YOU would like to achieve, that speaks volumes alone.

B/C at age 25 I would have @Matt M. HIT VEGAS BABY!!!;)

Good Luck Jake

@Account Closed AMEN!!!! ON YOUR POST BELOW!!!

"Most landlords I know with S8 tenants feel very secure about those rent payments and would have more such tenants if there more vouchers out there. Providing services to the poor has its perks. Really depends on whether or not your local housing authority is easy to deal with."

@Doug B.

I have noticed a decrease in some of my sec 8 tenants rent but it was because one of the children/tenant on the lease with them has started working or makes more money than what was reported and that counts as income for the household.

@Joel Owens

Is correct they usually don't have the discipline to save to pay the difference. So they get smart and take that person or person off of there Voucher and rent amounts usually go back up.

Just based from my experiences.

I am not sure how long Sec 8 will be around but I do know if Federal Minimum Wages stay around $7.25-$8.50 then Sec 8 will definitely stay around. Just my thoughts.

@Account Closed

I rent to tenants in the $600 range and my lowest rent on my 1 bedroom units are as low as $325 a month. Most if not all of them are on fixed income SSI or Disability and those that do work are paid minimum wage.

I agree with @Sharad M.

when he stated "Someone making $21,600 in California or NY can be considered poor, but someone making that money in Mid West can have a better lifestyle than on either coast."

The cost of living in Memphis TN is much lower than the cost of living in other places if you make $80k-$100k a year in Memphis it compares to making $150k-$200k in California or New York. I am pretty sure if any one is making minimum wage and renting a home in those areas they are pretty much living below poverty level. I am no expert just my thoughts.

Thanks

Derrick

Please visit www.memphisbuyandhold.com for more deals

Here are 4.....

*2975 Kirby Mliss Cove Memphis Tn 38115 (3rd PIC)
Rented $850 a month List Price-$69,900

*2744 Harbor Station #3 Memphis TN 38115 (1st PIC)
Rented $800 a month List Price-$42,500

*2513 Redvers Memphis TN 38127 (4th PIC)
Rented $819 a month List Price-$65,000

*5687 Wintertree Memphis TN 38115 (2nd PIC)
Rented $800 a month List Price-$55,000

ALL HAVE SECTION 8 TENANTS GURANTEED INCOME!!!

LOL @Jay Hinrichs

I totally agree they do need to get a job!! But while they don't have one I guess the government feels the need to foot the bill??? Strange how it works but $11k Checks from Section 8 a month looks GREAT to ME!!!

I am just being honest with you..

*2975 Kirby Mliss Cove Memphis Tn 38115
Rented $850 a month List Price-$69,900

*2744 Harbor Station #3 Memphis TN 38115
Rented $800 a month List Price-$42,500

*2513 Redvers Memphis TN 38127
Rented $819 a month List Price-$65,000

*5687 Wintertree Memphis TN 38115
Rented $800 a month List Price-$55,000

ALL HAVE SECTION 8 TENANTS YEP GURANTEED INCOME!!!

hI @Dean Letfus

i tried to PM you but I am not sure it worked... Here you go..

@Dean Letfus

Please let me know what zip codes you are looking? Or which ones you consider not War Zones LOL??

Welcome to BP @Rhonda Itomura