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User Stats

13
Posts
4
Votes
Justin Chiang
Pro Member
  • Investor
  • Los Angeles, CA
4
Votes |
13
Posts

ISO Property Managers For Single Family Section 8

Justin Chiang
Pro Member
  • Investor
  • Los Angeles, CA
Posted

Hello,

I'm considering buying a deal from a wholesaler in Detroit, MI 48238, but the problem is I don't know of any Property Manager who could manage it. The wholesaler says Section 8 would make it profitable as an LTR. The cost to get in on the deal is a very low entry. Please if anyone has any recommendations on Property Managers out there, I would greatly appreciate it.

Thanks!

User Stats

3,803
Posts
2,166
Votes
Michael Smythe
Property Manager
  • Property Manager
  • Metro Detroit
2,166
Votes |
3,803
Posts
Michael Smythe
Property Manager
  • Property Manager
  • Metro Detroit
Replied

@Justin Chiang what's the address?

We can tell you the Property Class and corresponding pros & cons.

Also, everyone is pushing S8 as a cure-all - which it is NOT!

We manage almost 100 S8 leases and S8 has its own pros & cons.

You can NOT trust wholesalers.

User Stats

13
Posts
4
Votes
Justin Chiang
Pro Member
  • Investor
  • Los Angeles, CA
4
Votes |
13
Posts
Justin Chiang
Pro Member
  • Investor
  • Los Angeles, CA
Replied

@Michael Smythe thank you! I moved on from the deal as per your comments. I greatly appreciate it!

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User Stats

3,803
Posts
2,166
Votes
Michael Smythe
Property Manager
  • Property Manager
  • Metro Detroit
2,166
Votes |
3,803
Posts
Michael Smythe
Property Manager
  • Property Manager
  • Metro Detroit
Replied

@Justin Chiang we didn't recommend moving on, rather proceeding with caution.

Just for fun, what was the address?

User Stats

13
Posts
4
Votes
Justin Chiang
Pro Member
  • Investor
  • Los Angeles, CA
4
Votes |
13
Posts
Justin Chiang
Pro Member
  • Investor
  • Los Angeles, CA
Replied

@Michael Smythe, no worries. I didn't want to feel like I was rushing into the deal from the wholesaler into a market that I had no idea about prior to recently. Also, I'm not allowed to share the address. I'm glad Biggerpockets has such a great community to help me along this journey. I greatly appreciate your help. Thank you.