All Forum Posts by: Nicolas Biangel

Keep reading and educating yourself with the BP podcasts and other sources.  I learned that only you can determine when you're ready to pull the plug.  But once you do you won't regret it and you'll learn something new with every property 

Ana Klein has been a great one! https://www.akk-tax.com/

Welcome @Dajana Topic!  Started the same exact way: in FL and started investing in GA.  It's been an amazing learning experience! Willing to answer any questions you may have.  Feel free to connect.  Welcome to the world of investing! 

Looks like $50k is the minimum loan amount. 

I have one that I've been working with for the past 2 years.  

PM if you'd like his contact info. 

@April L. I know there are diverse ways to invest, but considering the finite amount of funds, have you considered BRRRR a property in less expensive areas in GA? I'm in GA and invest in GA as well. There might be an easier way to start investing while learning at the same time the process.

@Matthew Lindsey No worries. Allow me to answer the questions in order: 

1. They pay according to the contract (which has to be agreed upon by both HAD, landlord and accordance with market rent).  An example.  In the county I'm in they pay $884/month for a 3 bedroom. The rental contract states the rent to be at $1125.  HAD required the tenant to pay the difference.  Now, due to unforeseen circumstances the tenant lost her job.  An adjustment was made and now her portion is less than $100/month

2. Inspections: yes.  They are picky.  And they inspect the property once a year.  The yearly inspection is a double-edged sword.  If the tenant does not comply they can lose their voucher; but it also marks against you.  It marks against you because they see it as you didn't notify the tenant.  But the threat to the tenant makes them more cooperative for the inspection. 

3. Issues: depend on what the issues are. 

4. This answer will cover the rest of your post.  The reason for the yearly inspection is to make sure the tenant is keeping the property in good shape; or they risk losing their voucher.  And we have some rights in filing a complaint so long everything is documented. Section 8 has improved in placing responsibility on the tenants as well as the landlord.  So far, my property is still in good condition and I'm in my second year of renting out to her. 

One of the major downfalls I've experienced is that they're not quick to raise the rent. I'm still fighting them in trying to raise it. But overall, it's been a good experience.  In that area, I'm focusing on making it my Section 8 market.  There's a need/shortage.  So it's a nice niche to be a part of.  

It's a great option. Two of my houses (SFH) are Section 8.  TBH, my property manager handles the nuance of it all.  Depending on the needs of the area will depend on how quickly they approve.  But a lot of it is done online as well. 
The potential tenant still has to fill out your application for the property.  In the meanwhile, HAD will inspect your property to ensure it qualifies (they will always find something wrong, be prepared).  
In regards to what they pay, the schedule sheet shows the most they'll pay, but you can ask for more and the tenant will pay the difference.  
HAD look into bedroom count, so whether it's SFH or MFU, they pay attention to bedroom count.  

Let me know if you have any further questions. 
 

Where in GA are you looking into? And what are your goals/plan? 

funds aside, the Short Term Shop specializes in STR in the Blueridge area. I'm working with them now for a different area, but they're extremely friendly and helpful. Their website is https://theshorttermshop.com/

Hope this helps!