All Forum Posts by: T Giddens

I have two units rented to section 8 tenants. I receive payments from both section 8 and from tenant…on time. The tenants I selected take care of my property so I don’t have complaints on that end. The 2 headaches are dealing with the overly funded government program that spends very little on customer service. It’s a disaster especially when negotiating rent. I almost always get the asking rent rate when a section 8 tenant is employed but if the tenant is unemployed section 8 nickels and dimes you. I encourage anyone considering section 8 to thoroughly analyze their property inspection handbook to avoid failing inspections. Also, throughly vet tenants (must have a proven work history) to ensure section 8 approves your highest requested rent rate. 

Is this an investment property or primary residence? Cash out refi for primary residence is up to 80% appraised value ..up to 75% investment property. 

Long term is golden. 

By the way the rent rate has increased:

@Moon Molson thoroughly vet your tenant (credit, background and pay attention to their move history-length of employment-highly recommend employed tenant). I’ve had my section 8 tenant for almost 2 years..she keeps the property clean, pays her portion on time and doesn’t bother me unnecessarily. She’s such a great tenant that She’ll be moving to another one of my units (better area in the city) in about a month. I can absolutely agree PHA-section 8 offices DO NOT return calls, some are very rude and they use COVID as their poor excuse as to why they can’t respond to request. But overall, having a great tenant made the program more bearable. Good luck!

What is D4D?

@Adam Martin

I did inquiry about refinancing my current vehicle under the business but my car mileage and year of the vehicle prevents this. FYI I never put money down on vehicles and I won’t start now. I’ve owned 3 and I’ve always come to the dealer with a pre approval from a credit Union. The business credit stuff is all new to me. Just trying to increase my business credit and real estate portfolio at once. 

@ George W 

I agree with working off to pay off my current loan. I’m with you all the way but the problem with that is credit. We need to have credit to gain more of it. It’s an ugly cycle. Good thing is I have a full time job that pays decent. Thankfully deciding to pay a note isn’t an issue I’m already doing it. I’m merely trying to determine if trading my current car out of my name for a newer one under my business is a good move. 

@Rick Pozos

You’re right, history always does. Thanks 

Pat, tax deductions are always great! How do you insure your vehicles? Do you use personal car insurance?