All Forum Posts by: Cesar Coronado

@Melissa Justice this response has been honestly so helpful and I appreciate you as well as everyone else here giving me information. I definitely agree that due diligence will be everything, finding the right team to support me will also be the most important thing here.

i know you said that you speak from experience with these tips, may I ask what your experience has been like? Have you done section 8 and if so, how was it? Or do you do normal rentals, and what Benefits or cons would you say it has over section 8? I appreciate it again!

Would you mind if I DM you and maybe we can talk about this a bit more?

@Drew Sygit I will indeed take these words of caution. And I believe this is exactly I wanted from posting this. I wanted opinions who obviously have much more experience than I do. And for that, I just want to say thank you everyone, I am genuinely grateful for this. 
@Jason Wray@Nicholas L.@Zachary Clevenger @Jay Hurst

Again, Thank you all. I think from here I ask a follow up question. Let's say I want to go the section 8 route, what cities is it viable in still and should I attempt to pertain to Class C areas? Or would Class B still be preferable. If you guys had to start fresh from the beginning, wether it's section 8 or just normal renting, what would be the list of things that a property has to check off in order to be considered profitable for cash flow?

Also, here is the link for the property I saw: https://www.zillow.com/homedetails/12330-Forest-Grove-Ave-Cleveland-OH-44108/33393368_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Thank you everyone for your time and knowledge.

@Jason Wray thanks for the reply! I appreciate the transparency too as I'm still trying to learn what is best before I pull the trigger on anything. Is there any recommendations you may have in regards to zip codes that are worth looking into? We are specifically looking for cash flowing properties.

@Remington Lyman hi! Thanks again for taking the time to respond. Would you mind if I reach out to you with some more questions?

@Drew Sygit thanks so much. I just want to start off by saying thank you for Even taking the time to respond. I actually just recently found out about the whole class system and it makes total sense. I didn't actually check what the class was like in the property I looked at. I'll dm you as to not overfill this forum!

Hi everyone! 

I was wondering if I could get some guidance or pointers here. My father and I are looking to get into a venture in real estate, and have been looking at buying and renting properties out of state. We live in California and prices here are a bit too much to comfortably take the risk. We are looking at states like Ohio and Illinois and planning to either do section 8 rentals or just general renting. Is section 8 still a viable option, and if so, what should I be aware of? Other than the fact that you're taking a risk with renters if you don't do your due diligence.

The numbers add up, the property we are looking at is 70k, and would take a 25% down payment of 17.5k. It's 3 bed and 1.5 bath and is fully renovated. The loan may be about 733 a month, and we can hopefully expect a rent of ~1400 a month from section 8. Assuming a property manager charges us 10% of that, that brings us to a total monthly cost of ~900 a month given small repairs and such.

The numbers feel good, but I'm just afraid they feel too good to be true. Has anyone here entered this type of market and can provide some wisdom and knowledge for us? I would greatly appreciate it!

Hi everyone! 

I was wondering if I could get some guidance or pointers here. My father and I are looking to get into a venture in real estate, and have been looking at buying and renting properties out of state. We live in California and prices here are a bit too much to comfortably take the risk. We are looking at states like Ohio and Illinois and planning to either do section 8 rentals or just general renting. Is section 8 still a viable option, and if so, what should I be aware of? Other than the fact that you're taking a risk with renters if you don't do your due diligence.

The numbers add up, the property we are looking at is 70k, and would take a 25% down payment of 17.5k. It's 3 bed and 1.5 bath and is fully renovated. The loan may be about 733 a month, and we can hopefully expect a rent of ~1400 a month from section 8. Assuming a property manager charges us 10% of that, that brings us to a total monthly cost of ~900 a month given small repairs and such.

The numbers feel good, but I'm just afraid they feel too good to be true. Has anyone here entered this type of market and can provide some wisdom and knowledge for us? I would greatly appreciate it!