All Forum Posts by: Mandar A.

Thanks @Mark Whittlesey

@Michael Ablan

Thanks a lot for your response. 

Couple of questions:

- Do the inspections take a long time to complete? More than a month?

- If for any reason Section 8 tenant stops paying is the eviction process same as any other tenant or is it harder?

Hi,

I am looking for my first investment rental property and I recently saw couple of properties that have Section 8 tenants. The properties are in 50k to 60k range and when I run the numbers on the property I am getting around 10% to 11% cap rate.

So the numbers look ok to me.

My question is does anyone have experience with Section 8 tenants? Can you please tell me some of the pros and cons you have experienced of having section 8 properties and tenants?

Any experience you can share will be helpful.

Thanks,

MSA

I dont live in California but in my state I had luck with a local Credit Union in getting a HELOC. Try a local bank.

Hi,

I am making my first offer as a rental property investor and my realtor has given me paperwork for the offer along with some contract papers. One of the paper is about Exclusive Buyer Agency Agreement and one of the paragraphs says:

CLIENT'S OBLIGATION FOLLOWING TERMINATION.

My realtor says what that means is if she shows me a properties and I decide that I dont want to work with her anymore than I should wait 60 days to purchase the property with another realtor. My realtor says this is a standard document that all realtors use and its provided to them from the state.

I obviously don't have much experience in this matter yet so I just wanted to get an opinion from you guys if you are aware that this is a standard document for all realtors?

Thanks Nicholas. Your response was helpful.

Hi,

I am a newbie to this site but I feel like in short time itself I have learnt a lot from this site. This site is definitely a good resource for investors. My primary purpose for joining BP was to learn more about rental property investment. Currently I am looking at buying my first rental property investment. Lately I have been looking at few properties and so far I have narrowed it down to two properties. One of them is a 4 bed/1bath Townhouse while the other one is a Duplex (1bed/1bath on each floor). Both of them almost have same asking price. The duplex already has tenants in them so it will start cashflowing right away. The townhouse is not yet rented but looks to be in good shape and should be able to get tenant(according to my agent). When I ran the approximate numbers for both properties using an online calculator Duplex has a higher cashflow than the townhouse(roughly 100 dollars more per month). I am looking for a property that will have good cashflow with lower vacancy rate.

My question is do you guys have suggestions on which one may be better rental investment long term - a duplex or a townhouse? Since this is my first time I thought I will take some suggestions.

Thanks in advance.

Regards,

Mandar

Thanks Dennis & Rob for your response. May I know why you guys like Duplex? what reasons?

Hi fellow BP bloggers,

I am a newbie to this site but I feel like in short time itself I have learnt a lot from this site. This site is definitely a good resource for investors. My primary purpose for joining BP was to learn more about rental property investment. Currently I am looking at buying my first rental property investment. Lately I have been looking at few properties and so far I have narrowed it down to two properties. One of them is a 4 bed/1bath Townhouse while the other one is a Duplex (1bed/1bath on each floor). Both of them almost have same asking price. The duplex already has tenants in them so it will start cashflowing right away. The townhouse is not yet rented but looks to be in good shape and should be able to get tenant(according to my agent). When I ran the approximate numbers for both properties using an online calculator Duplex has a higher cashflow than the townhouse(roughly 100 dollars more per month). I am looking for a property that will have good cashflow with lower vacancy rate.

My question is do you guys have suggestions on which one may be better rental investment long term - a duplex or a townhouse? Since this is my first time I thought I will take some suggestions.

Thanks in advance.

Regards,

Mandar

Thanks Scott for your help!