In today’s show, Dave Meyer, BiggerPockets VP of Data and Analytics and author of “Start with Strategy,” shares how YOU can build wealth in 2024 without a big portfolio or any investing experience.

@Greta Andrews Dave Ramsey a nationally respected financial expert , best selling author, and financial advisor calls whole life( cash value) insurance a con job orchestrated on novice investors by “ enthusiastic ignoramuses” masquerading as financial advisors.Borrowing money from yourself and paying interest on your own money is a non common sense approach to investing. 

The local housing authority is good but not fast.

According to data from the Housing Authority of Baltimore City, demand for vouchers remains high, and resources are stretched thin.

The HOA might encourage swift action, but the authority usually lies with the city.PS: Texas counties have more power over land use regulations than cities in some cases, which can influence how properties in rural areas are managed after a disaste

FMR for Section 8 is $1396 in my area for the BR count, I’ve already contacted the housing authority and have my units listed on the section 8 board.

In future, find out the permit requirements from the AHJ (Authority having Jurisdiction).

Typically we get a copy of their license / identification and pull credit etc after they sign a credit authorization form.Typically notarized documents are needed when recording them with a county, but for a contract it’s very rare to have contracts like a lease notarized.

I love it for the guaranteed rent, tenant stability, additional accountability with the housing authority and large demand for Section 8 housing without enough supply.With strong screening, I'm able to find great tenants and Im not owed any rent.Cons you will often hear is that the tenants are harder on your properties (doesnt have to be the case in my experience if you screen really well), the Housing Authority is a pain to deal with (this depends on a couple things - how well run your local PHA is and how good you are at handling process & details) and the extra inspections/red tape make the niche unprofitable (see what I said above about Housing Authorities).Done right, I believe Section 8 is one of the most stable & profitable. 

Have them add you as an "authorized user" to their credit card account, then lock it away.