All Forum Posts by: Matthew Mucker

Are you trying to warn me off? :)

I see great opportunity here. However, I seem to be the only one in my family that does. I don't know if that's because this is a bum steer, or because they just don't have the risk tolerance that I do.

Let me see if I can rephrase what my 'real question' is:

Is there anything about this situation that would raise red flags for experienced Section 8 landlords? What would make an experienced Section 8 landlord run away from a property?

Maybe I can take those answers and compare them against this opportunity and see what falls out of the comparison.

What are people's thoughts about buying and renting out a quadplex to section 8 tenants in a not-so-nice part of town?

This would be my first investment property. All of my upper middle class friends and relatives are telling me to run, but I think I have the temparment and the risk tolerance for a project of this type.

The plan would be to get a hard money loan for acquisition and rehab, then refi to a more conventional loan and get section 8 tenants.

Using the 2% rule and 50% maintenance rule, I think I can make the numbers work out quite well. I'm just pretty ignorant about the in's and out's of rentals on the wrong side of the tracks and would like any feedback y'all might have.

Wow. I stumbled across this forum and just had to register in order to reply to this one thread.

Your wife is your life partner. Real estate investing is just money. Going forward with your real estate investing without your wife's approval is going to do nothing but sow distrust and resentment into your marriage. I can't fathom that ANYBODY would advocate doing that.

My wife is also holding me back from investing. What I've done is explained to her why I want to get into REI, and what I think can be accomplished for our family through REI.

I then asked her what her fears are. And by listen, I mean LISTEN! Don't refute each of her concerns. Listen to what she has to say. Some of her concerns may not have any real merit, but they are real to her. Make your wife realize that you want to work WITH her. She's afraid. That's a fact and saying "you shouldn't be afriad" does nothing but marginalize her feelings.

When she's done talking, ensure that you understand her fears. Remember, what she SAYS might not be the root issue. My wife fears losing money. In reality, this is money that she spent years scrimping and saving and has a huge personal investment in. She's afraid of seeing all that work and all that personal sacrifice being lost.

Once you understand each other's points of view and your agendas, you can start to work WITH each other on bridging those gaps.

In the end, though, you have to make your own decision if you can't agree on a course of action together. Me, I'd rather have my wife than a rental house.