All Forum Posts by: Kristopher Hanks

@Paul Sandhu  There are people out there that will pay up to have these experiences. Use it to your advantage. 

@David Zheng your post made me laugh....vroom, vroom! hahahaha! Your dreams are awesome. 

Short term goal: build my rental portfolio from 3 to 10 single family houses. Mid term goal: 50 houses. Long term goal: take the cash flow from the 50 houses and use it to save for a down payment on a 300 unit apartment complex. Dang, I have a lot of work to do. I'm exhausted just from typing this. This is a 15 year plan. Now I have to be accountable for what I just typed....

Equifax, Transunion, and Experian will never pay their rent for them. Those are good scores, but the money is not there. It would be a risk that might backfire on you. I can understand wanting to help a Marine with a baby on the way, I would be having this same struggle if i was in your situation. 

@Achraf El Churafa Thank you for sharing your experiences. There is always something to learn from these stories. The most important is that no one will care about your money or your investments as much as you do. You will always need help as you grow, but you have to stay on top of your investments to make sure they are performing. 

@Tiago Martins It has probably already been stated, these lower end homes have to be long term investments to make money off of them. There is a lot of up front cost. The hours required to manage them is more than most buy and hold investors want to invest. Just my humble opinion. I have some of these and they are a headache for sure. The potential profitability is there if you are a long term investor, let's say 20 year hold. The rents from that hold period can offset some of the non-sense you will put up with over the course of holding and managing these homes. You just need to know going in that you are committing to a years long strategy in order to make your initial investment back plus the profit that all of us want to see.  

@John Claborn Wish you success on finding your next one. 

@Rachel Luoto Rent increases do fall to the landlord. The housing authority will not increase the authorized rent amount unless the landlord submits the proper request forms and supporting documents. Sounds like the previous owner was happy with what they were getting or did not know they could ask for an increase. As a section 8 landlord you should review the rental market probably 30 to 60 days out from the HAP contract expiration date. This will give you time to get comps and get your forms ready for the request for increase. 

@Matthew Schneider Section 8 management responsibilities are Governed by the county in which the section 8 qualified home resides. Each county that handles section 8 housing will have a Housing Authority Department. Once you have a property in mind or purchased go to the county website and search for the local housing authority section. You should find information that talks about being a landlord with a section 8 tenant. You will find information on how to become a section 8 landlord in that county and what the requirements are. It should also explain how they pay out the monthly rents. They will have a forms section where you can review their required forms and that will also give you an idea of what will be required of you and a potential tenant. The housing authority should also have a contact person that you can call or email to get your questions answered. 

@Grace Sunshine Nice work!