All Forum Posts by: Jeff King

@Randy Duncan im very excited to learn the entire process. Having never done this before im sure i will make mistakes. Hopefully my local chapter is easy to deal with.

@Ed O thanks for clearing that up. I was referring to it being a government program IMO makes it more reliable than directly renting to someone in a low income neighborhood.

Inkster Michigan, its in wayne county. 3 bedrooms 1 bathroom on a slab foundation. Bathroom and kitchen will be brand new everything else is new flooring and paint. Its gonna be a real nice home just unfortunately in a bad neighborhood. Also if in a bad neighborhood do they require security doors? Im planning on replacing them regardless for tenants piece of mind.

im closing next week on a house in a low income neighborhood and am planning/hoping to get a section 8 tenant in there (guaranteed money month to month) do you have any tips to find specifically section 8 tenants?

Thanks Sean Kuhn I'll keep searching

Sean Kuhn was it a national bank or a local bank?

I'm also considering using a Home Depot project loan. Is anyone familiar with those? I'm asking cause I'm buying a house for cash but need to come up with some money for improvements. I am a licensed builder and could do most if not all the work myself if I have to, but would prefer to just contract the work out.

If not what loan options would you have? If you bought a house for cash, what would your options be to get financing for repairs?

If you bought a house for say $10K cash and the appraised value is $40K could you immediately take out a HELOC? Or do you have to wait a year?

Thanks Ned, I chose this house cause I believe I can learn a TON about RE investing while not diving in too deep and possibly failing.