All Forum Posts by: Michael Bishay

Hey @Michael Bishay,

Came across your post and was impressed by your experience in real estate investments. As a hard money lender, I'm always on the lookout for skilled investors like yourself.

Your expertise in fix and flips, Airbnb, Section 8, and buy and hold caught my attention. I appreciate your knack for capital allocation and sticking to budgets.

Let's chat and explore potential collaboration opportunities. Your knowledge and experience make you a great fit for a mutually beneficial partnership. I'd love to hear more about your current projects and future goals.

If you're up for it, let's schedule a call to discuss your investment strategies and how we can work together. I believe we can build a solid and lasting relationship.

Looking forward to connecting with you soon!

Hi @Michael Bishay, I may be able to help.

In which U.S. state(s) are you doing your rehabs? Also, how much would you be looking to borrow? Have you used private capital before?

I know you wrote this a year ago and I haven't been on here in a long time so just now seeing this.  If your still interested in Bobs course.  I payed the $1,800 for it a few years ago and started it but life got me distracted and I didn't finish trying hard enough.  I was thinking about trying to get back to it on the side of my other job but it would be nice to find a partner to help with it.  If you or anyone here can put close to $500 down and give me a certain percentage on a couple of deals you do I could give you access to the whole program.  Thanks, Christi

@Michael Bishay ok, so this is a question that won't be too much different than other "non-section 8" questions.  

Generally speaking, we would encourage you to screen your tenants - whether they are section 8 or not.

We would encourage you to collect a deposit - whether they are section 8 or not.

A tenant can certainly be a "good" tenant or a "bad" tenant - whether they are section 8 or not.

Now, if you are targeting lower valued homes...there are "pros" and "cons" to doing that - whether you are renting to section 8 or not.  

So some of these things are universal questions.  The TRUE differences to know about renting to section 8:

1. Your home has to pass an inspection - the inspection isn't difficult and you can reach out to The Housing Authority of the City of Charleston to see the specifics on it.

2. Your rents are always on time - at least, the portion that is covered by Section 8.  Section 8 can provide someone with a "partial" amount.  So they would cover part and then your tenant would cover the rest.  The portion covered by Section 8 is always on time.

3. Higher Rents? - Sometimes you can even charge MORE for this type of rent. The more bedrooms, the more you can charge. Check out this HUD website HERE for more information on it.

Now some people might say "Section 8 tenants are more risky"...but that is NOT the case.  An UNSCREENED tenant is more risky.  For Section 8, if they damage your property they will LOSE their Section 8 money.  And Section 8 isn't really bringing out more vouchers right now.  So there is a big incentive to make sure that they are good tenants with you - or else they are out entirely.

I hope all of this makes sense how I am describing it.  Feel free to ask anything additional if you need.  Thanks!