All Forum Posts by: Aristotle Kumpis

Hey Ken. You should look at Ocala. It's about an hour north of Orlando. It's a good rental market for buy and hold. Its less expensive than Orlando too. I purchased a home here a few years ago, brand new. And it rented very fast. I live in California and invest in multiple states, if that matters. Also, the insurance was a lot less on a brand new home compared to an older one. 

Hi Harvey. I am not sure why the financing fell through for the buyer.

I would think this model works best if the property is close to you. It's like trying to run a hotel from a distance. You spend a lot of time and money having people do this work, and at the end of the day you don't net any more income compared to a long term rental. Have you looked in finding a short term property manager? They will charge you more, but are much more active and could probably help.

There was a post that I was interacting with on the Classifieds section where someone has a program that allows you put something like $5K down. You must have good credit. And they essentially buy the property and then in 5 years, you refi and give them the down payment back. So you are able to get the cash flow, tax deductions, etc. But you still own the property 100% in your name. 

The last buyer could not get financing, so this is available again.

-Located just outside Indianapolis

-Priced at $1.3M

-$14,475 gross monthly rent

-7 residential units

-2 doctors offices and 1 day care facility

-100% occupied with a wait list

-Does not need work. Great shape

If you are talking about 2-4 units, then it's really no different in my opinion. You just need to have more reserves set aside compared to a single family. However, if you may experience more appreciation in the home compared to a 4-plex. But this will depend on the area that you are buying in.

I don't understand why someone would ask if now is a good time to invest in section 8. You are not investing in the program. You are investing in real estate with the hopes that your tenant will have a voucher, if that's what you want. These are usually lower income areas, and you must understand the quality of tenant you may get. You cannot choose a section 8 tenant over a market rate tenant. Or vice versa. That violates fair housing rules.

Now, you can try to find a property that already has a section 8 tenant. But just keep in mind that you usually won't see much appreciation in these areas. So it depends on what your expectations are. I think it's great program. It's best to have a property manager involved because they usually know the rules etc.