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All Forum Posts by: Will Wagner

Will Wagner has started 1 posts and replied 2 times.

Post: HUD fair market rents-Baltimore

Will WagnerPosted
  • Rental Property Investor
  • Rockville, MD
  • Posts 2
  • Votes 0

Thank you for all the responses guys, I'm still very interested in this route as 200 more than what I could normally get per house is still substantial. Right now I'm looking at financing multi-family units in either Baltimore or Hagerstown though. I had originally wanted to deal all in cash but realized how much more I can make financing properties, obviously with the inherent risk in doing that. Don't know if I should be disclosing this, but I have about 150k cash to work with and I want to really maximize my ROI as I more or less plan to live off this investment. Any other suggestions on what to do in terms of investment would be greatly appreciated, but that may be for another thread.

Post: HUD fair market rents-Baltimore

Will WagnerPosted
  • Rental Property Investor
  • Rockville, MD
  • Posts 2
  • Votes 0

So I'm looking at buying some rental properties in Baltimore and was doing some research about Section 8 and HUD etc. What exactly is fair market rent? Is that what Section 8 WILL pay me or is that the max they would pay on a property in a Metro area? Some of the houses I'm looking at would normally rent out for about $900-1000 a month but the HUD FMR is something like $1600 (for 3 bedrooms). Do I get that amount or will they only pay what would be fair for the neighborhood and type of house? Most of the threads I've seen on here are about FMR's being too low. This is a case of it being too high. This seems insanely too good to be true if I can actually get that amount. Please someone fill me in as the research I'm doing is turning up very vague answers to my question(s).