All Forum Posts by: Hoang P.

Section 8 have their own guide line about how much they will pay for a certain area. You should contact your local section 8 first to confirm the rent they'll pay. I have 2 houses within 2 minutes drive from each other (both 3BR/1BA) and they pay $896 for one and $763 for other.
Also, if the condition of your houses is above average they pay a little more than average rent for the area. In my case 836 + 60 = 896, 703 + 60 = 763 ($60 more for being above average condition). Good luck.

Don't know about other people, but I sure do believe in karma. What goes around, comes around. If all you do is trying to find away to screw other people, especially the ones that helped you. Then maybe what happened to you was not a misfortune but what you actually deserved. You might succeeded in finding a loop hole of the situation and take advantage of it, but soon, more bad things will come your way.

I'm not disagree with you. The key here is big "IF". If only I had a crystal ball and know when to sell. I invested 150K in to Fidelity Real Estate mutual fund. After a few years, I enjoyed seeing my money more than double. Then I watched the profit washed away little by little. Hoping that it would go back up. Finally, I decided to sell them all with a small profit which enough to cover for the taxes. But if you have the stomach for stock market and willing to ride it out, more power to you.

So many foreclosed houses with a sign in the yard that I went looked at have been broken in and copper pipes + out side AC unit stolen. Putting a sign in the yard to me is like an invitation IMO.

Caught 1 of my tenant lied to me regarding this issue. Last few months when I came to collect rent, I saw a small dog in the house. When I asked, the tenant said she's grooming pet on the side for extra money. I said OK, as long as you not keeping it. When I came to collect rent this month. I notice it's the same dog for the last 3 months. There is also dog food under kitchen sink (I had to fix some plumbing issue). The tenant admitted that it is her dog, and she's planning to give it away soon. I hate liars and will have to check back on this to be sure the dog is gone.

I sold all my stocks 3 years ago and bought my first 3 properties. Wish I did that back in the 90's, I would have been all set by now.

I think I'm gonna apply Mike's rule today at 1 of my properties. We've been having strong wind since last night (40+ miles per hour). My tenant just called and informed me that the wind had knocked down 1 of the privacy wooden gate. Rather than fixing it/putting it back up, I think I'm going to take the other gate down as well and be done with it.

That article applied to new construction where everything are still in the open. My plumber asked me if I want to tear down drywall everywhere to find it or would I rather for him to find the source, cut drywall and fix it right there. I trusted my plumber and do what he asked me to do.

I wouldn't worry about that too much. Copper pipes not that expensive, same goes for drywall/sheet rock. If you have doubt, have a plumber meet you at the place and turn the water on at the meter, let him take a look. (of course you will have to compensate for the plumber's time). Most of the time, you can tell where it leaks. There should be evidence of mold ...