Joseph Neilson - The Real Estate Professor

11 Replies

Hi
Dose anyone have any experience of Joseph Neilson - The Real Estate Professor?

Thanks
J

My only "experience" is reading his book, "Buy and Rent Foreclosures..." and it is exceptional.  It does upsell some of his forms (contractor checklist, lease, etc) but the vast majority of the book is solid gold information.  He is a buy/rehab/refi/rent investor, and his strategy depends largely on purchasing with cash.  He rents almost exclusively section 8 or college town, but the information is applicable to most buy and hold strategies.  I highly recommend his book, but I can't speak for any of his other products/programs.  

Same here. I've read the book and thought it was VERY informative. I'm trying to replicate his model, minus the Section 8 aspect; I've heard horror stories from friends with personal experience.

I highly recommend the book. Like you've heard a thousand times here, you make your money on the purchase, so buy as low as possible to allow you to rent it for a fair amount and still be cash flow positive after you refi and pull cash out of the house.

We're under contract for our second house now and hope to refi in the summer to roll into another.

hello to you all,

I just want to advocate that my 'section 8' tenants are my BEST tenants and have provided me wth sustained longevity.  There should not be any 'horror stories' associated with them unless you simply enjoy non-sensical rumors & folklore.  They should be viewed under the same microscope, and given the same opportunity, as anyone else.

In fact, what makes them BETTER tenants is that they are susceptible to an 'unannounced' home inspection at any time by housing inspectors; and if it is deemed that they are not taking care of your home, housing will issue a stern warning and (if they don't clean-up their act) remove them from the program; in which they can't afford to happen.

I have 17 section 8 tenants with an average of 7 years on lease and counting; also, the Veterans Administration has a similar program called 'VA-SH' that you definitely want to consider as well.

Thank you !!!!!

@Jerome Bell, Sr. That's great to hear that you doing so good with section 8.

Do you have any specific advice to give when working with Sections 8 or similar programs?

Joakim

good morning,

Yes Sir!  Every recipient has a case manager, I think you should sit down with him/her and explain your apprehension, and ask if the recipient has ever had any problems with a previous landlord ? How long have they been on the program?  How many people will be living in the home ?  Do they work (meaning will section 8 pay all of the rent or a portion) ?  I have made it a point to meet and have a sit down with every case manager for every section 8 tenant because they are a great wealth of information and future leads.

They will provide rental history but no medical information; I say this because if you get a veteran on the VA-SH program, some of them may be suffering from a medical ailment, as it is a program to end homelessness for veterans. Which also means that the homeless veterans will not have 'previous rental history' for you to verify.

At the end of the day all I am saying is that they (section 8 & VA-SH recipients) are still human beings and for anyone to say that they 'heard horror stories' & 'rumors' so they stay away from a federal program designed to help the most vulnerable & veterans in our communities is flat out discrimination by all means.

As real estate investors, we are in an amazing position to do something we love, make a lot of money and help other people at the same time.  So let's help as many people as we can, especially those who need us most.

Thank you !!!

Originally posted by @Brooks Rembert :

Same here. I've read the book and thought it was VERY informative. I'm trying to replicate his model, minus the Section 8 aspect; I've heard horror stories from friends with personal experience.

I highly recommend the book. Like you've heard a thousand times here, you make your money on the purchase, so buy as low as possible to allow you to rent it for a fair amount and still be cash flow positive after you refi and pull cash out of the house.

We're under contract for our second house now and hope to refi in the summer to roll into another.

Thanks for being candid about your thoughts on Joseph Neilson's book.  Peeks my interest!  

About Section 8, it varies greatly from place to place, depending on how it is administered. Our local housing authority administers the program in a manner that is quite efficient and they are very helpful to me as a landlord. We have some very good Section 8 tenants, one of which has rented the same apartment for 26 years, takes care of the place and has never been late with her portion of the rent. That is not necessarily the case with all Section8 tenants and not all Section 8 tenants have good case managers and not all Section 8 programs are well administered. So the key is to find out more information about how Section 8 is administered in the areas where you invest before turning down a potentially good tenant pool. Then screen prospective tenants well before selecting to whom you will rent.

Congratulations on getting another house under contract!

@Jerome Bell, Sr.  and @Marcia Maynard  , I am on board with your lines of thinking 100%. Your positions on the program mirror what I post about typically when someone brings up sec 8!

if these authors are so good, how come they aren't on Biggerpockets? ;)

Disclosure: I work for Joe Neilson

@JoanDickie.  Hi. I work for Joe Neilson. The Real Estate Professor, Baby!  I am happy to field any questions you may have for him.  Joe provides a free newsletter that is very informative for anyone interested. 

Susan Smith

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