All Forum Posts by: Jason Bales

@Sebastian Nadal

Welcome to the exciting world of Real Estate Investing. I am the VP of OmniKey Realty LLC and we specialize in working with investors to grow their real estate portfolio. I have attached a video from our CEO on the Basics of Investing. Let me know if you find it helpful.

I get a lot of questions about housing vouchers and how you determine rent amount allowed.

Each housing authority (HA) provides a voucher amount determined by bedroom and some further define it by zip code or city within their covered area. They determine this based on a % of Fair Market Rent (FMR). Some programs are 100% of FMR, some 105% or greater (like the Walker Settlement Voucher in Dallas Housing Authority), some less. Each is different.

Out of that voucher amount, they will have a utility and appliance work sheet that provides a cost for each utility or appliance not provided by a landlord for each bedroom size. So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc. Then, for example if you don’t provide a fridge (which we recommend you do not), you will deduct the amount for the fridge as well.

Many voucher holders also work and so sometimes they will have a higher amount to spend than someone who doesn’t work because they can pay up to a % of their net income from the HA’s calculations, often 30-40%. Keep in mind not all HAs work the same.

I am the Vice President of OmniKey Realty, and I would highly recommend scheduling a tour with my investment team if you haven't already done so. During the tour, we will guide you through several key areas where we actively invest and showcase a selection of available properties—many of which are off-market opportunities.

Courtney, who leads my investment team, can assist you further. You can DM me her contact info.

Kevin, I noticed you are based in New York. If an in-person visit is not feasible, we can easily arrange video tours to accommodate your schedule.

@Matthew Irish-Jones

You make some great points. I work with investor every day, to locate and acquire single family and multi family rentals. Many of those investors live out of state or even out of country. By utilizing a property management company it allows investors to invest anywhere they want as opposed to just where they live. Also many investors like the return they get from real estate but don’t have the time or desire to deal with tenants on a regular basis.

@Michael Babin I am interested in the Pearl River area. I would like to stay in touch with you. What’s rents going for in your area?

@Michael Babin I am looking at investing in that area. I am originally from there. How has your experience been so far?