All Forum Posts by: Dylan Smith

Hello BiggerPockets,

I wanted to open a forum on section 8 multi-family properties. How has the journey been for those who are quite involved in the section 8 market? What are popular loan types? Can you FHA S8 properties? Are the tenants manageable? What's the process/qualifications? Are there any courses or additional information on this topic?

All information welcomed!

Hello BiggerPockets,

I wanted to open a forum on section 8 multi-family properties. How has the journey been for those who are quite involved in the section 8 market? What are popular loan types? Can you FHA S8 properties? Are the tenants manageable? What's the process/qualifications? Are there any courses or additional information on this topic?

All information welcomed!

@Shawn Mcenteer Good to know. Is there a way to negotiate PMI when you have good credit but the lender still tries to charge it?

@Shawn Mcenteer Thanks for the information! How does one avoid PMI w/ 5% down? I thought exemption from PMI only exists when you put 20% down as an investment property.

@Wale Lawal - It's funny you mentioned that because my MLO said the same thing. 5% minimum to get into 2-4 units during these times of a hot market.   

@Ralph DiBugnara I have considered short-term rentals. However, I read that you can not AirBnb/VRBO or partake in any short-term rentals if you have a FHA loan.

@Rebecca M. Okay great! Are you guys doing an FHA loan on the quadplex? Do you mind sharing some information on the deal via inbox? I would love some insight!

@Jonathan Soto Good deal. However, I do plan on renting out the side I live in after a year. With that being said would you say 3-4 units would still be preferable. I find anything more than a duplex is hard to find. 

@Thomas Geary Sounds like a solid plan. Thanks for the advice! Let’s connect. I would like to hear other finance options as well as hear how you can help me as new investor!

@Nick Riccio Thank you for the information! My MLO has given me similar advice

@Michael Dumler Thank you! Do you have any advice on where I can do market research? I’m looking for credible sources, courses, or even clubs. 
- I can smell gentrification in multi parts of the Tampa area I just need to stick to one market as you suggested.  

@Michael Dumler - This is very true. I need to make sure that I’m finding the right deals! Do you know/have any resources that’ll help me analyze deals? I’ve seen excel spreadsheets that’ll help determine cash flow. I’m also looking for Duplexes in the West coast of Florida - Greater Tampa Area (St. Petersburg, Tampa, Clearwater, etc). 

@Joey Gorombey - I'll continue to check Zillow/Redfin! I also have a licensed agent send me postings via MLS. I have him spam my inbox with listings in desired zip codes. You should give it a shot!