All Forum Posts by: Kellen Bradford
Kellen Bradford has started 8 posts and replied 15 times.
Post: buying homes in "bad" neighborhoods to rent
- Casa Grande, AZ
- Posts 15
- Votes 1
Originally posted by @Swat Khan:
One way to handle it is using Section 8.
I know a war vet that I originally met over at the Section 8 office who has 11 properties in C- neighborhoods and never had issues with his section 8 income, meaning he got his payments, and therefore was able to keep up his properties. Now, of course it wasn't passive income.
When it comes to the rougher neighborhoods, you will be working for it and really have to stay on top of things but in return, it could be a great way to build up a cash flow portfolio and move up to less management invensive type properties. If you're going passive, I would avoid SFR altogether and try to find a multi-unit 4 unit and do Sec 8 and at least all your properties are in one area under 1 title.
Good luck.
That's interesting... How does section 8 work if I was to go that route? Do they pay me a certain percentage while the tenant pays the rest? Also how do I go about my homes qualifying for section 8?
Post: buying homes in "bad" neighborhoods to rent
- Casa Grande, AZ
- Posts 15
- Votes 1
I see a lot of homes in my city in lower income neighborhoods. 25k-40k homes. I could see myself purchasing 3 homes at least and renting out for $650 each to give me a $1950/month income . Sounds GREAT to me but scared of the idea of running into trouble with tenants in that area. Any advice on how to handle it?
Or I can buy 2 homes in somewhat better neighborhoods and rent for $750 a month and take the lower income
Post: Using propertyshark to find liens or issues when buying
- Casa Grande, AZ
- Posts 15
- Votes 1
Looking towards buying through auctions sometime in the next year and want to learn as much as possible before hand. Would propertyshark be a good site to view liens, 1st, 2nd loans etc. Basically any issue before bidding on a home up for auction?
Post: New Member here looking to make moves. casa grande, Az
- Casa Grande, AZ
- Posts 15
- Votes 1
thanks
Post: New Member here looking to make moves. casa grande, Az
- Casa Grande, AZ
- Posts 15
- Votes 1
I'm 29 years old and work a regular 7-4 shift 5 days a week making just enough to get by. i bought a home 4 years ago that is worth double now and looking to sell just to profit the cash and start investing into rental properties. I'm guessing a good 100k to invest. I live in casa grande, Arizona. I was hoping to invest into 2 older homes maybe 60-70k each and finance whatever i need to cover the rest. Live in 1 home while i fix them both up to rent and eventually use that rent money to purchase a new home for me and my family.
The goal is to make enough money just from the 2 rental homes to cover my monthly mortgage and etc. and maybe invest into a 3rd rental home in the future.
I'm new to all this and would love someone to give me a step by step plan and information on best ways to make this happen.