All Forum Posts by: Jonathan R.

@Jonathan R. name bomb worked for my keyword alerts...ha -- Wish you the best in the sale - and depending on where from WSU as I'm sure you know depends on how much valuations have went up.  I think one of the FARHA's bought most of the stuff within a block of 2 of 17th st once he knew of the future expansion plans a few years ago -

I graduated there in 03 and never thought the neighborhood around there or the development nearby would take place - 

We've been away for 2 years almost exactly now and sure do miss it.  The plus about living in Topeka is we are an hour 20 mins from downtown KC and 20 from our house to Lawrence.  Cant say anything in Topeka excites me -- I wish it did - we are still looking -- but great people here - just not the same energy Wichita got going for it the past 5 -10 years or so.

If you're ever up in Topeka we should connect (Or Lawrence) -- When my wife is done w nursing school - hopefully this December I'll hopefully be able to spend more time back in Wichita.  We are all tied here for now.

It's totally possible. I've seen a couple low-value flips in lower-tier areas. Say a couple hundred dollars to a few thousand for the house then rehab and sell it for a small to modest profit. Those flips push the slow and natural appreciation upward, but it's certainly not significant.

I’ll laugh when you get multiple offers over your 66k asking price . I could be wrong but When I hear people say that if you buy at 20 it will always be worth 20 I can’t help but wonder about that idea when the cost of lumber and supplies keeps going up crazy at my Home Depot and the good areas with high rents keep getting pushed up and taxed up making it unaffordable to most , then I consider our population .we double in size in this country every few decades .seems  They keep making people but not anymore land . They aren’t building any new houses these days in the area either so where do folks live ???? In a tree ?under a bridge?  in a bush ??
what a crazy idea .is appreciation still possible even in the hood ??... Inquiring minds want to know !

Just to clarify - you are asking if they lose their voucher will SEC 8 pay the rent til the end of the lease? With a SEC 8 tenant there are three separate contracts 1) the lease with you and the tenant 2) the contract between the tenant and HUD and 3) a HAP agreement between you and HUD. If HUD terminates their contract with the tenant, their contract with you automatically terminates as well, which means they will no longer be sending you payments. That does not terminate your lease with the tenant however, and unless your lease addresses this situation, your lease with the tenant is still in place. (My lease has a clause that says if the HAP agreement terminates the lease terminates at the same time.) Your tenant is then treated just like any other tenant and you will have to follow your state laws if they can't qualify without the voucher and don't agree to a mutual termination of the lease.

Nope.  You should send the tenant notice immediately and cc the case worker saying that in response to their phone call you are notifying them that they are in a lease until ?/?/? and do not have permission to terminated it. I had a situation one time where a SEC 8 tenant abandoned and when we found out we contacted the case worker who said “She didn’t tell you she was leaving?  She told me you said it was OK.”   In our situation the case worker had already reissued the voucher and the tenant moved.  You need to notify SEC 8 before this happens.  If a tenant abandoned their lease they are supposed to lose their voucher.