I am almost 70 and I'm on Section 8 in senior housing..I love my place.. we have inspections every 3 months. Fail 3 and you are terminated..I have a lifelong friend who was on Section 8 when she was a single mom.. She now owns her own home .. without this program I would be homeless..
Sorry to be off topic but does any of you know of a trick to get back into an Instagram account..? I was dumb forgot my login password. I appreciate any tricks you can give me!
I can't believe this video doesn't have more views! It's absolutely amazing! Very clear, easy to understand, and you hit all the major area's of concern when investing in Section 8. SN: great penmanship greatly helps as well. All around very good video. Thank you so much for sharing this wealth of information.
You can take a Section 8 tenant to court and get a judgment for damages, just like any other tenant. Thant judgment will also revoke their voucher and most apartments will not rent to someone who owes rent to a previous landlord. You need to screen Section 8 tenants just like you would anyone else.
One of the best videos I've seen on any subject. Thia man has experience, knows what he's talking about, and explains things very clearly. It would be a pleasure to do business with a man like this !
I am Sec-8 tenant I need to move to a building that except Sec-8 I LIVE in a house in NY🇱🇷 everything getting so high IT just not worth it paying all this rent and we low-income. I always been a good Sec-8 NEVER had evictions. NEVER damage apartment because it's just me and I LIVE clean that's how I always been all my life. If yu looking fo a goodr sec-8 tenant yu see my face on. The billboard💯
Yes, and it's a shame Trump suppresses Secretary Carson with the appointed Deputy Secretary shill who's obvious least concern ((like crooked Rosenstein, son of Heinrich Himler (look in images, compare)) did to Hon. Jeff Sessions, and more.
This is very insightful. I worked as an Eviction Prevention case manager for 5 years and understand how these subsidies and incentives work (Section 8 does not offer as much incentives at the NYC based subsidies). It's great to hear from an investor's point if view. I would have thought it was a bad idea but the point system that's in place will better to vet qualified from unqualified tenants seems to be very useful. Thank you!
I'm very new to real estate, I'm currently In Iraq serving our nation (USA) I have been looking for investing in real estate and I dont know most of the stuff you said I will never learn it in real life. I have been watching all your videos. Man I really appreciated the time you spent to educat us for free. I hope to I can contact you for more advices . God bless you Sir.
Bro.. just use the va loan. You can get up to a four unit property with it. That’s what I’m doing. Cool thing is you don’t need to put any money down. Don’t spend your deployment money on a fancy car or what ever bullshit we usually spend it on. Use that capital for real estate
Loved this amazing content. Straight to the point. Hard facts. Even gave websites and the point system is absolute gold when it comes to picking out tenants. You expedited my learning. Thank you sir
Thanks for the clear and concise process with screening any and all tenants. The point system really removes the emotions often times wedged in during the approval process while reviewing potential tenants; whether general public or HCV candidates.
7 лет назад
Good video. I've always stayed away from section 8, but now have a property where it might make sense. This video was very informative! Thanks.
You are on point. Exactly what I needed; you did a wonderful job explaining. I will make sure I have all your information at my fingertips. Thank you very much. Subbing.
If the Head of Household does not abide in the contracted unit then she is at risk of losing her voucher. This must be reported and is not okay. It is in violation of the HAP contract. Landlords need to report these issues.
Great video...relevant to US properties....we are based in UK...our govt has just changed the rules so the max deposit is 5 weeks rent....so your point system for 2 to 2.25 for Double Deposit will not work here....not sure if you guys will be facing the same problems with govt changing rules on rental properties soon. We also have problems where if you own rental properties as an individual - you cant take off the mortgage interest payments off as a cost - only 20% of the cost of finance interest/mortgage is allowed - maybe property investors in the US need to take note - this shit might be coming over to you guys soon - who knows ?
Hi Peter, Thanks for your video. We have many single houses in Orlando, Kissimmee and Davenport. I am just thinking to start do investment on commercial real estate. Your videos help me a lot.
I like your video but they are still human's too, it's just they are hopeless and broke. Not everyone on section 8 is like that🤔stop judging! GIVE people hope by helping 😇
Thanks Peter. I misunderstood what you said in the video. I thought you were saying that you would have evicted her because of her negligence with her daughter, not because of her negligence with paying rent.
You don't have a lot of ground to stand on because the government pays you 70-80% of your asking price. Hence why it's a headache for investors to go through with the evictions.
Peter doesn't this go against your guiding principles for investment...such invest in more desirable areas as you can't manage your way out of a bad neighborhood?
There is a big difference between owning Section 8 Apartments in a fair part of town versus one in a very dangerous, very very depressed part of town. There is still plenty of Section 8 in the peninsula of San Francisco, for example.
Patrick Vilbon I just did a quick search and was surprised to find a couple of low income housing buildings in a rather desirable part of town. He never said buy a dump in a slum.
Regarding your section 8 point system...on your 2.0 - 2.5 rating you ask for double deposit... Is that based on your total rent (let's say $1000) or is it based on their rent portion (in your example $200). So they would have to come up with a $400 deposit?
All of your videos are awesome... A little baby can understand them! I really enjoy them. I need you as an advisor & mentor. Can that happen? Thanks, Ash
My black brother u brought joy to my heart..... quality black man right here so few in this world...... just so proud of u... speaking as a Realestate investor with a large portfolio....ur quiet knowledgable greatly admired my bro very very proud of u
according to your point system everyone who either has an eviction or problems with former LL, can NEVER get into an apartment, is this accurate? no need to calculate if they have either problems, just automatic no.
Peter I am considering purchasing a Section 42. Do you have any information on these and how to set up the new LLC to be qualified to handle low income tenants after the building has been purchased?
I am really enjoying you content thus far. In one of your videos you mentioned it's not necessary to have a license for C.R.E. how do you do deals without it? Dose this vary by state? I am in New Jersey.
I have a quick question for my first purchase would you recommend a two unit property with a owner occ loan and later do section 8. Or go the 203k fha a few times and gain some capital then do section 8 properties?
The way you have the point system set up they would not be eligible if evicted or had previous LL trouble. It's mathematically impossible to recover. Is this for a reason? Is this to automatically disqualify them? and say its based on points? to protect us for encountering the same thing? if so, that is a good tool.
I am wanting to but a 6-plex that has section 8 tenants. The landlord has been offering all bills paid. Is there a way that Section 8 tenants can also get help with paying utilities and not just rent? Thank for you the great content videos !
One of the inspectors called out distressed wood as "termite infested". #fail #embarassing. Another one failed because of a ketchup stain on the counter
This is great advice, I'm a Real Estate Broker and I started my own credit repair company & still doing property management. I used to go to former landlord's house and speak to neighbors. My clients pay for extra and we get consent from the prospective tenant. Now that my business has grown I had to stop. I have switched to High end because it was too much business to scale in NYC. There are really great Section 8 tenants and cash paying tenants. Make sure you have vetted each individual person carefully. I've had good and bad with both. Do you offer mentorships? I'm looking to make large purchases in NYC and PA. I will be buying your book ASAP.
Ok I have 220k in cash, a 760 plus credit score and only have a mortgage payment. That is the only debt that I have. I am interested in acquiring properties to rent them out. What would be your first suggestion for me? I applied for a investment loan which I was approved for 340k. At this point should I just research the area and buy the properties and place them on gosection8.co?
Commercial Property Advisors thanks for you reply. I live in a dallas and it’s impossible to find anything here. Should I look at a different market and research a property management company to carry out the day to day operations
Commercial Property Advisors yes I know. I’m trying. I’m reading what I can, doing my own research and everything. I’m on my way to see some multi units right now. I want to have 30 units within the next few years. An apartment would be ideal but it’s been challenging. If I can build up my equity with multi units I’m hoping to secure a bigger loan.
Worse than the regular "tenants, toilets, and taxes". I'm thinking of investing in rental properties, but Section 8 is obviously more trouble than it's worth. Plus we are trillions in debt and I don't want to be part of the problem.
@@CommercialPropertyAdvisors --- However, I reviewed another one of your videos stating that it is better to buy 5 or more commercial properties. Is this correct?
@@paratroopergirl4064 There are advantages to 4 units too; they are residential so there is 30 year fixed loan programs more easily available. But you can't force appreciation the way you can with a 5 unit.
@@paratroopergirl4064 Leverage is far more effective in building wealth. See this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-CRdvWUWGaqg.html And yes, I instruct my Proteges.
Thank you so very much, Peter! You are the most wonderful mentor! I have gained so much knowledge from your teaching! I hope that our government will remain strong!
That may not be the best question to be asking. It would be better to screen wisely so you get good tenants and you would prefer to lock them in for the long haul rather than a month to month.
From what I've seen the landlord maintains control and you setup what you feel comfortable with. But I completely agree, you want to keep turnover low. You will want someone that will be a good tenant and stay a long time.
