All Forum Posts by: Peter Philando

https://www.sba.gov/sites/default/files/resource_files/EIDL-BDO_Presentation_March_26_0.pdf

Heather, sounds like the landlord is an unethical character. 

You are describing criminal behavior ... why would you want advice from this forum? This situation requires legal counsel so you can make the best decision possible. You absolutely press charges against the son for the assault. It would be nice to find a way to give the young mother a "heads up" but be careful. However, I would definitely break off contact once you're in some legal battle with someone unless you're trying to work out something. I would be so far away from that place and people except for court matters.

I currently transitioning to self-management and I'm like tenantcloud. Innago and Rentecdirect and also very good.

  I'm moving towards self-management of my small portfolio. The approach I took was to use the vast amount of information already available on this site to get a "knowledge feel" of what it's going to be like.....spend some time a search through the forum to get a good understanding and feel for what others have done. You will find that you get most of your "general questions" answered. Now, when you get to specific questions, situations, etc you can post and start to get specific feedback. I would also start by looking at some of the free/not expensive management sites like, www.innago.com, www.tenantcloud.com...www.rentecdirect.com. This way you can easily add another property if needed. There is built-in screening in these sites that you can utilize. Search on the forum for screening tenants because there is step by step guide. If you do this you'll be just fine. Best wishes and much success!

@Bryan Hartlen Did you do anything in MGM?

All the food I've been eating since "sheltering-in-place" lol

@Matt McGuire trap viruses ..... I didn't realize that those filters can do that. Aren't viruses microscopic and would be too small? Thanks for the info though, I will definitely look for them.

I want on a 4-hr master class with Dr. Joe Asamoah earlier today. He does the BRRRR strategy in D.C. on $700K homes catering to Section 8. I will be implementing that strategy ..... but more than anything else it proves that you can rent to section 8 as you do any other tenants. You don't have to lower your rent, actually its possible you might get above-market rent ... depending on where the property is. Use this link to find out what HUD fair market value rent is for your county's housing authority https://www.huduser.gov/portal/datasets/fmr.html.

Also, don't lower your standards because based on what I have uncovered in my research, its a huge reason why many have a disfavorable view of the section 8 program. Screening ALL your tenants rigorously, the same way is the best bet for success with a market tenant or section 8 tenant. Dr. Joe's Bigger Pocket podcast 356 appearance  https://www.biggerpockets.com/blog/biggerpockets-podcast-356-joe-asamoah

Others can input more on the pros and cons of their experiences. I currently have a property up for rent and I'm specifically targeting Section 8. 

Ok, gentlemen lets tamp down on the emotions for a minute, otherwise, this thread has no meaning.

@Mike H. I too feel your pain. The first thing that crossed my mind when the President announced no evictions, etc .... was what about the landlords. Whatever rent a tenant does not pay will never come to you once the crisis is over. If mortgage companies give a reprieve from paying the mortgage for a few months, it will be tacked on to the end of the loan for sure. The grant portion is based on $1000/employee up to $10,000 and a $15K loan spread over 30years at 3.25% (or 3.75% ?). If you get the loan, it's just that .. a loan, while you might have given up thousands of dollars in rent that you will never recoup. THAT SUCKS!!

On the other hand, lobbying groups don't pop out of thin air. Stakeholders have to donate money and time for a lobby group to exist and have any relevance. Is this a wake-up call for the independent SFR/MF landlords? I believe a lobbying group exists for large apartment building landlords??

@JD Martin I agree "In the meantime, keep telling people landlording sucks - it's less competition for the rest of us!"

We'll get through this!