All Forum Posts by: Shalom Benton

It’s 2021 so I know someone has the best way for tenants to pay rent. Ideally, I’d like mine to pay electronically! But what is the best way?

I want the money to drop into an account that is associated with my rental properties alone.

(I’ve tried cash app but this doesn’t work because cash app attaches to one phone number, and one account. And I use my cash app for other non real estate transactions. )

Thanks!!!!

@Jonathan Taylor

Wow thanks for responding! I have rental income from 2 properties...The lien is on a property that doesn’t have income.... but the lien extends to all of my properties if I want to sell them. My question is if the lien would also stop me from purchasing something else? Hope that makes sense.

@Jonathan Taylor

I want to purchase a house...but will a lender utilize my rental income (for income eligibility) if I have a lien on one of my properties?

For details: the lien is on a property that is being developed, but it spreads two 2 other properties that are developed.

I know that a Lien will stop me from SELLING my properties until it’s lifted. But will it stop me from PURCHASING, as well?

Thanks in advance!!!

We just decided to list a property with section 8… Our Housing Authority has a website that links us to something called go section 8…

But I wanted to ask you what is the best way to get section 8 tenants?

There’s a part of me that feels like placing a sign at the property is the best way, but I’m not sure…

Also...

Do most of your tenants cover all of the rent with section 8?

@Anthony Wick very good points! I had not heard of the 1% rule before. I own two duplexes, and cash flow 100% because they are paid off. I got lucky and purchased them off market in 2011. Today’s market is so much different! I realize that it is a sellers market but I still want a good deal, and if I purchase a 3 or 4 unit, I’d at least like for the mortgage to be paid by 2 units. Ideally, 1 unit. But that doesn’t seem to be the current reality in my area- for retail.

@Evan Polaski this makes a lot of sense. Thank you for sharing from your stand point!

Buying an FHA duplex and the appraiser has been delaying my closing date with random imposed conditions- beyond their scope and beyond the initial appraisal report.

To get into the details, the appraiser questioned the life of the roof, and I had a roofer come out to inspect it. The roofer confirmed that the roof was fine.. but now the appraiser is trying to create a new issue about the roof. But it has already passed a 4 point and professional roofing contract inspection.

The appraiser has been very uncommunicative and delayed. So my closing date keeps getting pushed back, and it’s starting to feel antagonistic.

I’m in the process of trying to get this appraiser released, and I wanted to know if anyone else has experienced this? Or something similar.

What can I do? Is this normal?

Thanks!

@Anthony Wick

That’s a good point! I’ll have to figure out this app to see if I can update my original post.

In my market what I’m seeing is this:



275-300k for a 4 unit.

Most that I’ve seen rent between 650-800 a unit. Sometimes, section 8 will pay for a portion of it. 

@Taylor L.

Good to know

@Joseph Firmin

True. But wouldn't class A tenants normally prefer a home? My assumption is that most multi family units are lower income because class A would like to have a yard or HOA type of experience. And not share walls. You see what I mean?

Glad you’ve been able to do it without. I own duplexes, so when I say multi family I’m referring to 3-4 units that share walls.