All Forum Posts by: Sharla P.

Thank you!

Message me if you are a landlord in Wake County, NC accepting tenants who have a Section 8 voucher

In October 2012, I attended my first local REIA meeting. The speaker said something that stuck with me... that most of the people in the room would never do a real estate deal and I was determined not to be one of those people! In December 2012, I closed on my first investment property.

@Kelsey Maren Thanks for responding!

@Billy-Dee Greenwood Getting more information about the current tenants is a good idea. Thank you!

@Joseph Bafia All good points. We will view the property tomorrow. Thanks for responding!

@Luke Carl Appreciate the response.

Analyzing a condo for purchase as a vacation home and to use as short-term rental.  The condo was completely renovated in Sept. 2021 and it is a good price. Great location as well.  Condo is occupied by a tenant and the lease ends in April 2022.  The rent amount is not enough to cover expenses resulting in negative cash flow while it is occupied by the current tenants.  The property would be available for use 75% of the year in year 1. There is also the risk that the current tenants are not taking care of the property.

Does it make sense to purchase it or look for something else?

@Jacqueline Blue Agreeing to a 2 year lease at a reduced rent amount does not benefit you. It only benefits the tenant. Not a good idea. One year lease (max) at the market rent rate. After a year, you get to decide what you want to do (i.e. - find a new tenant, increase the rent, etc). and the tenant can do the same.

Investment Info:

Condo fix & flip investment.

Purchase price: $66,200
Cash invested: $20,077
Sale price: $165,000

3 bedroom/2.5 bath condo