I have a dilemma that my units wont rent

[Mike Bloom]

hey, I would be closing on a 10 units multifamily next week in Dallas Tx, the only thing running through my head is what if I couldn't find new tenants, or what if I raise my rents to market rates and price out existing tenants. If I couldn't find good tenants - that investment would be a mess. What do you guys do? I was having a backup plan of renting it to Section 8, but after some research the regulations are too tight ( inspections and stuff). 

[Matt Lyons]

First off, CONGRATS on the 10 unit!  Second, I would offer the same advise for most everything:  Worry about things you CAN CONTROL: Your EFFORT, Your ATTITUDE and Your FOCUS!  You cannot control anything else so control those things.

EFFORT: do the right things and work harder (or have your team work harder) to create the proper place for this investment level...make it as good as you can within the market and trust that by putting in that effort it will be rewarded

ATTITUDE:  Stay positive, people rent and need to live somewhere, that will always be the case, you will find good tenants and bad ones, that will always be the case and the investment (as long as you buy right) will always be a win..some big wins and some small wins but you have to buy really bad to lose

FOCUS: it appears you are starting off focusing on the wrong things...What If PROBLEMS...instead FOCUS on What If WINS:  Instead of "what if no tenant every pays me" switch to "what if I am approached by a buyer who wants to buy it within 3 months of me buying it for $100k more and now I have to deal with capital gains or a 1031 exchange"

And finally, I have rented through Section 8 and also not through Section 8...benefit is that you get paid direct from the government EVERY month....downside is the tenant pool is NO DIFFERENT than what you find on your own and can be even worse PLUS you have the added requirements meeting the section 8 standards and inspections...and finally sometimes it is a worse tenant: some feel entitled because they government (and you) owe them...I have had good and bad section 8 tenants, you can also mix your tenants...rent 5 units to section 8 and 5 on your own and see what works out best