All Forum Posts by: Jibreel Hameed

@Kevin Dang Thanks for your response Kevin. Increasing rent is one of the main issues we were thinking about. I don’t know if there are any stipulations on how high we can go and how much the gov’t would cover. I also thought about maintenance issues as well. How often did you encounter issues with these properties? Looking back, is there anything more you could have done to prevent/decrease issues?

@Brian Garlington That’s very good advice Brian, I appreciate your input. I was coming into this strategy thinking of ways to try and increase property value but I’m guessing that shouldn’t be a focal point going the Section 8 route. Regardless of the value I may want to put in, the house would only sell based on the comps and surrounding area, correct? AdditIonally, I already assumed we’d have to have a very thorough tenant screening process but I dIdnt want It to be to the point where we couldnt get anyone under lease.

Hello All,

My investment partner and I are thinking of different avenues on how to buy and hold homes in low income areas. I've seen people doing this across the country with no understanding on what incentives they are giving for others to move into neighborhoods which unfortunately may have high crime rates with unreliable and or problematic tenants/neighbors. So we started thinking of ways we could entice residents of the neighborhood to rent rehabbed homes without the fear of not being able to afford rent and the property generates guaranteed rent role without high tenant turnover or encountering high vacancy rates. So the only solution we thought about (not sure if this is a novel idea but I haven't heard too many doing it) is to rehab duplexes and triplexes and then supply the apartment to Section 8 tenants.

So the questions I have are:

1) Is this a viable solution that anyone has done before/has information on?

2) Are there certain criteria a property owner needs to meet in order to supply homes to Section 8 tenants?

3) Is there any local or state registration you need to complete in order to supply housing to these tenants?

4) Is there a minimum and or maximum amount of units you can own/provide for Section 8 housing?

5) Are there any gov't assistance programs encouraging investors to supply Section 8 housing?

I'm sure I'll have many more questions depending on the type of information I get lol. Look forward to hearing your responses!

Thanks

Hello All,

My investment partner and I are thinking of different avenues on how to buy and hold homes in low income areas. I've seen people doing this across the country with no understanding on what incentives they are giving for others to move into neighborhoods which unfortunately may have high crime rates with unreliable and or problematic tenants/neighbors. So we started thinking of ways we could entice residents of the neighborhood to rent rehabbed homes without the fear of not being able to afford rent and the property generates guaranteed rent role without high tenant turnover or encountering high vacancy rates. So the only solution we thought about (not sure if this is a novel idea but I haven't heard too many doing it) is to rehab duplexes and triplexes and then supply the apartment to Section 8 tenants.

So the questions I have are:

1) Is this a viable solution that anyone has done before/has information on?

2) Are there certain criteria a property owner needs to meet in order to supply homes to Section 8 tenants?

3) Is there any local or state registration you need to complete in order to supply housing to these tenants?

4) Is there a minimum and or maximum amount of units you can own/provide for Section 8 housing?

5) Are there any gov't assistance programs encouraging investors to supply Section 8 housing?

I'm sure I'll have many more questions depending on the type of information I get lol. Look forward to hearing your responses!

Thanks

Greetings BP Community!

I've been a member here since 2015 so in the words of the illustrious Sean Carter a.k.a Jay-Z, "allow me to reintroduce myself my name is" Jibreel Hameed LOL. Throughout the last 3 years, I've read many BP articles and listened to countless podcasts in order to help myself formulate a strategy in this vast world of Real Estate Investing. While I know there is still research that can be done and questions that I still need answers to, I'm now confident enough to want to jump in and learn through experience.

In a nutshell:

• I currently live in Roselle, NJ and I'm looking to thoroughly learn the real estate markets in North and Central Jersey
• I'm currently in between jobs but have a career in Mechanical Engineering and will continue this to begin building capital for future REI ventures
• I have a strong interest in Wholesaling as my Phase 1 strategy. I plan on utilizing this strategy to build capital for buy and hold/flips as Phase 2
• I understand that while Wholesaling is most appealing to new investors because it has the "lowest entry point for capital needed to start", it also involves an immense amount of time and effort to be done successfully
• I'd love to connect with local RE investors/wholesalers in order to network and learn what really makes a good deal. I'm also eager and willing to lend a helping hand with any project(s) that I can.

I look forward to learning and growing with this awesome community. Feel free to reach out at any time.

Greetings BP Community!

I've been a member here since 2015 so in the words of the illustrious Sean Carter a.k.a Jay-Z, "allow me to reintroduce myself my name is" Jibreel Hameed LOL. Throughout the last 3 years, I've read many BP articles and listened to countless podcasts in order to help myself formulate a strategy in this vast world of Real Estate Investing. While I know there is still research that can be done and questions that I still need answers to, I'm now confident enough to want to jump in and learn through experience.

In a nutshell:

• I currently live in Roselle, NJ and I'm looking to thoroughly learn the real estate markets in North and Central Jersey
• I'm currently in between jobs but have a career in Mechanical Engineering and will continue this to begin building capital for future REI ventures
• I have a strong interest in Wholesaling as my Phase 1 strategy. I plan on utilizing this strategy to build capital for buy and hold/flips as Phase 2
• I understand that while Wholesaling is most appealing to new investors because it has the "lowest entry point for capital needed to start", it also involves an immense amount of time and effort to be done successfully
• I'd love to connect with local RE investors/wholesalers in order to network and learn what really makes a good deal. I'm also eager and willing to lend a helping hand with any project(s) that I can.

I look forward to learning and growing with this awesome community. Feel free to reach out at any time.

Hello Bigger Pockets Community:

My name is Jibreel Hameed. I’m 24 years of age and currently reside in Roselle, NJ. I’ve spent the majority of my life in the state of New Jersey with short living stints in Kentucky and Washington. I’m a recent graduate of the New Jersey Institute of Technology with my B.S in Mechanical Engineering and I plan on continuing my education as a full-time graduate student pursuing a M.S. in Power and Energy Systems.

I currently have no experience but I want to become an expert of Buy and Hold rentals through the use of Duplexes/Triplexes/Quads using any financial method I can (I believe I want my first property to be a Triplex/Quad acquired with an FHA loan). Until I'm established financially, I plan to continue educating myself about real estate through the use of the Bigger Pockets website along with its podcasts and recommended books. I also plan on joining a local real estate investors association to network with others and seek a mentor. I'm very excited to learn more with and from you all and finally start my journey into real estate investing.