I'm considering buying a triplex with long-term Section 8 tenants, and I need a buyers' agent who's transacted on buildings with Section 8 units. Any recommendation?
Thanks so much!
@Jonathan Schwartz - What are your plans with the tenants and the property?
I would recommend talking to a property manager or an attorney depending on what your plans are. If you plan on keeping the tenants a property manager can help screen them.
If you plan on buying out the tenants an attorney or someone that specializes in working with tenants. Any agent can help with either but an agent specializes in helping people buy or sell real estate. I would recommend you expand your team with additional people that can give you an opinion.
@Nick Hedberg , thanks for the advice! I have the PM and lawyer covered (and have gotten their agent recommendations). Now I need an agent for the transaction. I just wanted to reach out to the BP community for another recommend.
I have a lot of recommendations! The first is if you get this under contract, make sure your or the seller notifies SEC 8 just after the seller receives the last rent payment they should receive before closing. It takes time to turn off the payments and you need to be sure they are aware of the pending closing so the seller doesn’t get rents after closing. To save poor fingers from typing the same thing over and over, I’ve put my tips into a blog. Here’s the link. https://www.biggerpockets.com/...