All Forum Posts by: Cain McNeil

Hank A- I'm at work and for work purposes we leave our keyboards on caps lock- was not trying to offend anyone or come across as shouting but thank you for the advice.

Ben- Thank you for the info! It clearly isn't all roses like I've been lead to believe and this real world experience is quite useful. I will certainly continue to consider all of the ups and downs to S8. I always find it comical as well when people "can't pay rent" but the cigarettes and booze seem to find it's way into their house by some miracle. Thank you for your input, best of luck!

-Cain

I AM A BANKER AND PART TIME REAL ESTATE INVESTOR, LOOKING TO GROW MY REAL ESTATE BUSINESS TO A POINT THAT I MAY TRANSITION TO BEING A FULL TIME INVESTOR.

MY DUPLEX (TOPIC OF THIS THREAD) WAS PURCHASED THIS YEAR FOR $105,000 WITH EACH SIDE BEING RENTED FOR $650. THE CURRENT TENANTS ARE GREAT SO FAR, HOWEVER I HAVE BEEN RESEARCHING SECTION 8 INFO AND FOUND A HUD CHART ONLINE THAT SAYS EACH SIDE OF MY DUPLEX (2 BR 1 BATH EACH) COULD BE RENTED FOR $881 IF I WERE TO MAKE IT A SECTION 8 PROPERTY. THIS WOULD MAKE FOR A 20-21% CASH ON CASH RETURN AND IN SPEAKING TO OTHER INVESTORS I HAVE HEARD THAT SECTION 8 TENANTS ARE EASIER TO MANAGE DUE TO DIRECTLY DEPOSITED RENT FROM THE GOVERNMENT AND THE FACT THAT THEY HAVE INCENTIVE TO "PLAY BY THE RULES" CONSIDERING THEY CAN LOSE THEIR VOUCHER IF EVICTED.

I WOULD LIKE SOME FEED BACK ON HOW CONCRETE THE HUD WEBSITE IS. IF IT SAYS "FAIR MARKET RENT FOR A 2BR IN MY AREA IS 881" IS IT REASONABLE TO ASSUME THATS WHAT WE WOULD BE PAYED PER SIDE IF WE DID MAKE THE PROPERTY SECTION 8?

ANY EXTRA INFORMATION WOULD BE APPRECIATED AS WELL.

THANK YOU!

@Adam Mcclellan welcome to BP! I  am a newbie in the real estate game as well and live right her in Panama City. Shoot me an email if you would ever like to link up/network ....  Cheers! -Cain

@Michael Garrison Please do, that would be great! I have been looking for events to attend and appreciate the support. Feel free to email me.

@Edwin E. that would be great, I have been trying to find investor meet ups in the area for quite some time now! Please email me at scmcneil123@yahoo - would love to discuss what we could do.

Thanks @Michael S.! I'm already a huge fan of the podcast which is how I found my way to the site. Seems great so far. 

My name is Cain McNeil, I currently work as a banker at large bank here in Panama City, FL. I am interested in buy and hold (approx. 5 year) deals. I take interested in both sfd and multifamily dwellings. Excited to be part of the Bigger Pockets community.