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All Forum Posts by: Rob Ayala

Rob Ayala has started 1 posts and replied 5 times.

Originally posted by @Robin Fields:

@Nicholas Chapman


Hey Nick! Congrats on the purchase, sounds like a great one. I'm currently living in a house hack I purchased a year ago up north of you in Santa Rosa, what a crazy ride it's been so far! Just stumbled into BP so have just been down the rabbit holes of forums and not much posting yet ha! Would love to hear more about your journey so far and swap stories :)

Robin

Hey robin how were you able to find a house hack in Santa rosa? would you mind sharing some details and tips? was it on the MLS? what are the financials? did you buy a multi family? Ive been looking for a year and a few offers made but all fell through. Unpermitted construction, MAJOR foundation problems etc.


Wondering how to be able to house hack in our area. thanks! 

Originally posted by @Mike Wood:

@Rob Ayala Most do it as its automatic rent in marginal areas. There are some areas of our city were you will have a tough time renting market rate but can easily rent out in section 8. You generally don't get a premium for section 8, maybe a small amount more, but generally its market rent upto the HANO limits.

that makes more sense. Thanks for your insights Mike

Originally posted by @Mike Wood:

@Rob Ayala  If you think that market rent is $1600-1800, why would you think that HANO would pay more than that.  They won't. I don't do section 8 rentals, but am familiar with the rates, as it sometimes affects pricing.  Additionally, be careful with these high priced section 8 rentals, as the tenants will often times be responsible for a portion of the rents, and in our city, that usually means its not collectible, as often section 8 tenants have the opinion that you got your money from HANO, you dont need mine.

okay mike. I knew someone where hano paid more than market rent on a 3 bedroom. But if that was a unique situation Im not sure why anyone would be a part of the program if you get paid the same amount as a market tenant.  So if thats around what I can actually get then I will have to move on from them

Scott thank you so much for your in depth answer I REALLY appreciate it. Yes My unit is NOT in the french quarter so 2618 would be very high for it. I never really though I could get that but say I can get 2200 I would still be very pleased and am wondering if I can get that or around that. I think market rent could be 1600-1800 so I dont see Hano as a good option much less than 2200.

But having to find a tenant approved for a 4 bedroom voucher is GOOD to know. Thank you for letting me know your experience. If I do go down this path with them I will try to vet the tenant as much as possible. 

It seems like the only way to know for sure is to list with them and see what happens? From what you are saying 2200 might be a bit optimistic which is the amount I'm really hoping for in all honesty

The closet is good to know. Im actually not sure if My unit has closets in bedrooms which is a factor I need to consider and consider adding if they dont have. 

Hi!

Im under contract on a 4 bedroom in 70112 on Iberville st. Hano website says they will pay UP to 2618 but that rents will vary. In your experience how close to this number can I get or is it actually possible to receive this amount? Any other experiences regarding hano positive or negative are also greatly appreciated :) THANK YOU!