All Forum Posts by: Balakishan Chenna
Balakishan Chenna has started 2 posts and replied 28 times.
Post: Forney,TX yay or nay?
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
i am a realtor and investor in forney area. Purchased 200 investment homes to my clients in forney area in last 2 years. Let me know if you have questions
Post: Rental Property Investing- Section 8
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Rianna Mcgee:
@Michael Smythe they definitely made it seem like it was the best way to go lol but I’ve been down the rabbit hole too many times to now know when it seems too good to be true, that’s why I wanted to come on here and get some insight. I appreciate the response!
Post: Section 8 or Traditional Rental?
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Travis Biziorek:
I'd echo @Denis Ponder. I have 8 cash paying tenants and 3 S8.
Well, technically I now have 2 S8 because one of them had their voucher reassessed and it went to $0.
There are pros and cons to the program, and you need to be aware of them all. I'll take whatever tenant makes the most sense but I'd prefer a cash paying tenant.
My experience is in the Detroit market FWIW.
sorry Travis, you had bad experience. I did leased to 200 sections8 teanants in last 12 months . and overall 300+ in last 8 years. I personally own 22 homes and the tenants are 100% section 8. I did both section 8 and non section 8 past few years . And i had damages / evictions in both cases. Somehow I am sticking to section 8 for 100%. For cashflow ( higher than FMR / market rent) and guranteed rent ( offcourse you had bad experience). Guaranteed rent as in 99%+ sections8s
Post: Section 8 a good idea?
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Travis Biziorek:
S8 can be fine as long as you understand all the pros and cons. But you're already calling it "guaranteed rent" which tells me you don't.
Section 8 rent is NOT guaranteed. It doesn't matter what your favorite guru is telling you.
Vouchers are generally assessed annually and the amounts can, and often change. Just the other month I had one of my S8 tenants go through their annual reassessment. The rent was $1,200 and their portion was ~$550.
After reassessment the tenant's portion went to $1,200... yep, that means they no longer qualified for their voucher and there is no guaranteed portion.
I'd search the forums here for more info about S8. There are many threads like this where lots of folks share insights.
Travis,
I agree with you. The scenario you are explaining less than 1%, 99% of the time the rent is guaranteed. i had dealt with hundreds of section8s. Never happend like this.
Thanks
bala
Post: Section 8 investment
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Nathan El Baze:
you seem to know what you are talking about, could you explain more how the S8 is working ? I'd love to know more
are you planning to invest in Dallas, TX area can help you section8 program / tenants. I am 100% section8 centri Realtor / Investor
Post: Purchasing Section 8 Housing in Texas
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Omeed Owhadian:
Hi All, ive got a few rentals under section 8 in Houston,TX. I was wondering if anyone knew of a different part of Texas that has a good ratio of cheaper Housing and Higher payment standards for the section 8 program. Houston is pretty slim picking these days.
Post: Section - 8 in Dallas Texas
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Kenneth Kussman:
Is there anyone here on BP that lives in Dallas Texas that invests in Section -8 type properties ?
hi kenneth,
still interested in section 8
Post: Guidance for a New Builder in DFW
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Lissa Dear:
Hi everyone,
I recently finished up a builder mentorship program in Dallas, TX where we built a home (1500 sqft 3bd 2.5ba) from the ground up. I'm currently working on another project in Terell, TX.
I want to complete more projects, and I have access to subcontractors, lenders, architects, realtors, etc. The whole team basically.
I also have the time to dedicate to projects, but I do not have enough capital at the moment to purchase my own lot.
Can any builders/developers share their experience getting started or which route is best to take in the current market?
Hi Lissa,
I am investor and REaltor. I have group of clients who are investors. lets please discuss sometime about your experiences / plans on new builds. If the numbers work out we can partner.
you can reach me out at 205-240-1408
Post: New homes in North Dallas.
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Joseph Lawrence:
Looking to buy our first investment property in the North Dallas area. Our goal is to purchase a new home. Any tips would be appreciated. Thanks to all.
Hello Mr. Joseph.
I am an investor and Realtor now in DFW area. Helped many clients in DFW area in last 14 months. Sold almost 150 Brand new homes ( New Builds in last 14 months). All the purchase transactions i dealt were investor centric and Passive income / Positive cash flow oriented. The new build Homes i recommend are fairly cheap and the HOAs are investor friendly with no restrictions to rent. If you would like to know further details . Please call or text me at 205-240-1408
Thanks
Bala
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Post: Dallas Suburbs that still has price appreciation potential
- Real Estate Agent
- Dallas-Fortworth
- Posts 31
- Votes 6
Quote from @Cheng Chu:
I'm an out of state investor who frequents dallas area. How is the RE market currently?
What suburbs of dallas would you look into investing that has strong job grow, but prices are not super high.
I would Recommend eastern suburbs such as Forney, Mesquite and Fortworth suburbs such as Saginaw, Haslet, Crowley, Where the prices super low compared to Northern suburbs and rental demand is high in Blue collar neighborhoods. Helped many of my clients getting positive cashflows
contact me at 205-240-1408 if you need further details.