New Member Introductions

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Paris King
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RN new to Real Estate Investing

Paris King
Posted Nov 19 2022, 11:38

Hello everyone,

My name is Paris! I am a RN looking to start investing in section 8 properties. Happy to be hear to learn and grow. I am in the DMV area.

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Olivia Radziszewski
  • Realtor
  • Chicago, IL
174
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250
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Olivia Radziszewski
  • Realtor
  • Chicago, IL
Replied Nov 20 2022, 05:36

@Paris King- Welcome! If you have not already I would get connected with local investors in your area. There are usually meet-ups. You can find them through the site Meet-up usually or on here! Also, an investor friendly real estate agent can help find you your property. If you have not already been pre-approved I would reach out to an investment friendly lender who can see what you currently qualify for financially. Good luck!

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Cassidy Burns
  • Real Estate Agent
  • Washington, DC
396
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665
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Cassidy Burns
  • Real Estate Agent
  • Washington, DC
Replied Nov 20 2022, 07:08

Hi Paris, welcome to BP! Section 8 is a great asset class, but I usually suggest doing market rate tenants / investment first to get your feet wet.

Happy to answer any questions you may have!

Best,

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Martin Smith
  • Realtor
  • Washington, DC
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Martin Smith
  • Realtor
  • Washington, DC
Replied Nov 20 2022, 07:18
Quote from @Paris King:

Hello everyone,

My name is Paris! I am a RN looking to start investing in section 8 properties. Happy to be hear to learn and grow. I am in the DMV area.


 Hi Paris! Congrats on getting started on your journey. If you're in the DC area, I'm sure you've already listened, but if by chance you haven't, search the podcasts for Joe Asamoah's episodes. He specializes in Section 8 rentals in the District itself. He's got a LOT of helpful tips, including a bunch of stuff that's just good practice for landlords in general regardless of what types of properties they specialize in, not just Section 8. I'm in the DC area as well, so if there's anything I can do to be helpful, just let me know!

-Martin

Real Estate Agent Virginia (#0225261468), Maryland (#5012112), and DC (#SP40001401)

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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
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765
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Benjamin Aaker
  • Rental Property Investor
  • Brandon, SD
Replied Nov 20 2022, 10:29
It's always great to see another healthcare worker on BP. I recommend to keep your current W2 job as long as you can and save as much as you can. The W2 really helps in getting banks to offer you a loan. We also really need nurses! Make sure you evaluate those Section 8 properties well before purchase. The almost-guaranteed rent is nice, but tenant relations can be a headache.

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Julio Gonzalez
  • Specialist
  • West Palm Beach, FL
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Julio Gonzalez
  • Specialist
  • West Palm Beach, FL
Replied Nov 21 2022, 02:00

Glad to have you as a part of this awesome community, Paris!

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Nate Sanow
  • I​nvestor & Agent
  • Tulsa, OK
1,135
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Nate Sanow
  • I​nvestor & Agent
  • Tulsa, OK
Replied Nov 21 2022, 05:31

You’ve got a great career, likely with some flexibility in scheduling if you can make that happen….my wife supported me as an RN starting out in this self employed world my first year of leaving traditional employment behind me.  I’m sure your path will sort out here soon.  When starting out I suggest focusing on seeing as many properties as possible, and analyzing as many as possible.  Look at flipped houses at open houses on the weekends, and take a friend and go walk fixer uppers for sale on the mls or via wholesalers - who often have “investor open houses.”  There is really no learning better than walking a larger volume of property….2nd to that, be around a higher volume of RE transactions, which initially won’t be yours…but get around someone buying selling a few times a month…

Best wishes to you and your success.  

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Alicia Marks
  • Fort Worth, TX
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Alicia Marks
  • Fort Worth, TX
Replied Nov 21 2022, 14:36

Welcome to BiggerPockets! You will want to check out this episode here: https://www.biggerpockets.com/... He's local to DC and passionate about Section 8!