All Forum Posts by: John Lamb

Investment Info:

Single-family residence buy & hold investment.

Rental property with a Section 8 tenant in place.

I just purchased my first rental property and I'm wondering what apps or software you use to keep track of the incoming rent, along with expenses of taxes, insurance and repairs? I know a simple notebook would work, but I'd like to find something to have on my phone that I can have with me all the time. Thanks. 

Jo, I myself just inherited a Section 8 tenant with the property I purchased. This is my first Section 8 tenant, but from my communication with the housing authority in my area (Phoenix, AZ), the annual inspection is just about the property and not so much of who is living there. I haven't had the housing authority do an inspection yet, so I can't verify if this is correct or not. One benefit I see of having a tenant (Section 8) with younger kids, is that the mother will probably want a stable living situation and will probably be on the voucher program for a while. So that means consistent rent and a tenant who will want to stay. That's the way I would look at the situation.

My brother (general contractor) and I are working toward buying land and building new homes to then sell. I've done a few fix and flips to where I used a HELOC and hard money to purchase those properties and sell them for a profit to where I can now purchase the land. My brother has the knowledge and skill to build the new home, but I'm curious as to the best way to get the money for the construction of the new build. I've looked at a few banks that do construction loans, but they will only do that type of loan if the property was for a primary or second home (this would be an investment). I don't think hard money lenders will do "construction loans", and the few private money options I know of have their money tied up right now. Any suggestions or advice from any individuals who have done new home construction before?