All Forum Posts by: Douglas B.

Wow, what excellent advice. I've read a lot of warnings about section 8 tenants destroying units and being horrible tenants. I'm actually a little surprised because it seems to me like these tenants would be eager to maintain their generous housing benefits by complying with the program. I know there's bad eggs everywhere, but I've heard well-to-do tenant nightmare stories too!

I've been advised that careful tenant screening is the key. We will also insist that the tenant carry renters insurance as an added layer of protection. Our goal will be to provide comfortable, safe housing and to be responsible landlords. We will expect that our lease be followed but we will also hold up OUR end too.

Win-Win is our goal.

I'm ready to buy my first duplex. In our market I can buy a habitable duplex in a low income urban market for 30k. Rents are aprox $500/unit but will likely be low income urban or section 8 tenants. The ROI opportunity here seems fantastic. My wife and I are meticulous planners and will heavily screen tenants to find the right fit. We plan on buying for cash so there's no mortgage and no reason to rush and take risky tenants.

Has anyone else out there done this sort of thing? I'm looking for advice, warnings and, hopefully, some encouragement! Thanks.

(My first biggerpockets post!)