Should I pull the trigger on this deal?

[Clarence Tillman]

Landlord wants to sell 4 properties. 3 are Duplex, the other single family. She owns them free and clear. They are all OCCUPIED with section 8 tenants. Rent per unit is currently 900. Her asking price is 60k per duplex and 45k for the single family. I have not made a counter offer. All properties are within .5 mile from each other. None of the properties need major repairs. They properties are in low income neighborhoods so the ARV on each property is 60k. I guess my questions are: Is it necessary to make repairs with long terms tenants already residing there? What number would I have do I have to be at to make this a deal if it isn’t? If additional info is needed please ask.

[Brian Garlington]

@Clarence Tillman

Um....this sounds like a horrible deal.....for all those properties.   I would recommened PMing me the addresses and the listing agents name so I can give them a piece of my mind.

Just kidding...................You've got several properties with Section 8 tenants n them and all are over the 1 percent rule? Unless something is really wrong with the properties I will take those deals every day of the week and twice on Sunday. I have Section 8 tenants in my rentals here in the Bay Area. I love those. In my rentals in Cleveland I have tenants that are not on Section 8 but please believe that as each tenants is leaving I am ONLY replacing them with Section 8 tenants.

Don't worry too much about the neighborhood Clarence because you are not living there. Section 8 tenants for the most part tend to NOT screw up properties or screw with landlords/property managers because they know if they become too "high maintenance" then they can be "asked to leave" and there will be a 20-30 Section 8 tenant applicants ready to move in right behind them.