Hi, I am at the age where I want to really get into the game, but I am too old to do the high learning curve and learn from my mistakes. So I am considering a mentorship program but I need a good done with me program and it can be very to determine which ones are actually good without costing my first borne. I am interested in multi family and section 8 specifically so advice on great programs would be appreciated. Thank you.
Flipper · Mission Viejo, CA · Member since 2014 · 2k+ posts · 1k+ votes
1mo
@Kenna Young I don't recommend Mentors that charge you money. You can get great information here, youtube, or start attending your local meetups. You will find someone there who would be willing to mentor you for free if you provide some value to them. What state are you in?
Hi, I am at the age where I want to really get into the game, but I am too old to do the high learning curve and learn from my mistakes. So I am considering a mentorship program but I need a good done with me program and it can be very to determine which ones are actually good without costing my first borne. I am interested in multi family and section 8 specifically so advice on great programs would be appreciated. Thank you.
There are a lot of choices to make with investing in real estate. I think multi family is an interesting one and section 8 is interesting if you have a lot of patience and are tolerant of people’s idiosyncrasies. I personally am not experienced with being a landlord around section 8 but I was raised in a section 8 world. The mind set is not what you and I would call “normal”. I chose to do my investing in a “find the property and sell it to others” world where I don’t have the day to day, month to month hassle with tenants. Both styles work, it’s just whatever floats your boat.
If you’re considering section 8 because it’s supposed to be easy to get into or because it’s government paid, that comes with a price. If you’re okay with the price, then I would find somebody that is deeply involved, has been for a few years and get to know them.
The big things to watch for are Section 8 does not let you charge more than what they approve, does not guarantee you 100% occupancy or eliminate tenant-related problems. The tenant still has responsibilities, including paying their portion of rent and complying with the lease.