All Forum Posts by: Rudy Manna

Got a section 8 tenant, her credit history is not good, but feels like I am going to take risk. The property is in South Tacoma, there are lot of interests, but looks like most folks are similar. Can the experienced folks help me with a couple of questions:

1. Any risk of taking section 8 with poor credit?

2. I understand she will share the section 8 voucher during lease signing. Is it a piece of paper or just a number or something else? How do I validate?

3. What is the risk that the place doesn't pass section 8 inspections?  Does that happened with you all? How do you handle the situation?

Thanks a lot in advance. This is my first section 8 so trying to figure out things.

@Catherine German 

@Steve Vaughan

@Account Closed

out of curosity..have you ever considered parking lot construction project? Heard lot about awesome cash flows but haven't seen much discussion at BP.

how about dividing water bill equally among tenants. I have been through that as a tenant in seattle. I just implemented it in a rental property acquired. Will have to see how it goes through though.

 Any rough estimate for sqft cost with realty home? These will be pretty basic homes, so any chance per sqft cost can get down to $80 or so?

thanks a ton. Couple of last questions:

- how long does it take from application to approval. Any rough timeline will be helpful..

- is there any service( real estate attorney/ surveyor?) who can help with  basic feasibility analysis before I buy?

Thanks again for sharing the real world perspective.

Thanks. Is there a place I can find the current zoning code for a house in the market. Apparently can't find in MLS or redfin.

@Joe Sno @Paul Sofia  @Connor Riley

Thanks all. This is indeed very helpful.. 

@Joe 

@Joe Sno Can you refer me to the online info on minimum lot size info for Tacoma as you mentioned? It will be a good start for me before I start looking

I have been doing buy and hold deals so far. Now I feel like taking the plunge and take it to the next level. My plan is to buy a house in a large lot, subdivide and create a free lot. Put the house for rent and go for new construction in the free lot. Experts such as  @Ryland Taniguchi among others are implementing this strategy at scale. 

I need to do some research/studying so that I can evaluate feasibility before going for the deal. Can the experts give me some guidance around the following:

1. If I take bank loan to buy, will that cause any problem with applying for the subdivision? I guess I can refinance after the subdivision minus the plot, and hold the plot free and clear. Looking for some real experience.

2. Are there any zoning restrictions/requirements I should look for?

3. What would be the minimum lot size to be eligible for subdivision? Are there any formula or any such thing?

I am considering south side of Seattle such as Tacoma, Olympia, Puyallup etc.

Thanks @Catherine German  

@Steve Vaughan

Indeed very helpful

I got a new property and putting it on market. I want to be open to section 8 vouchers. Is there anything I need to do? Heard that section 8 listing requires government inspection. Can someone point me the steps. The property is in Tacoma, WA. Thanks in advance.