All Forum Posts by: Nicole Harrington
Nicole Harrington has started 32 posts and replied 70 times.
Post: Section 8 pros and cons
- Posts 75
- Votes 24
There is a lot to learn. I ended up not taking the project need to learn more. Thanks everyone
Post: Section 8 pros and cons
- Posts 75
- Votes 24
Thanks i will check that out
Post: Section 8 pros and cons
- Posts 75
- Votes 24
Thank you that is helpful. I will keep all that in mind.
Post: Section 8 pros and cons
- Posts 75
- Votes 24
Thanks that is something i was concerned about.
but kind of thought bc the tenant has to qualify and can't fall off the wagon, they would actually be better renters
Post: Section 8 pros and cons
- Posts 75
- Votes 24
Quote from @Matt M.:
The cons I’ve found are tenants that absolutely feel entitled and don’t take care of the property whatsoever. We no longer participate in the program, the cons greatly outweighed the pros for us.
Post: Section 8 pros and cons
- Posts 75
- Votes 24
Thank you
Post: Section 8 pros and cons
- Posts 75
- Votes 24
The location is Carrolton GA/ Atlanta GA I ahve searched in the forum, but nothing recent from the Atlanta Area.
Post: Section 8 pros and cons
- Posts 75
- Votes 24
I am learning about section 8 renters. I know the government pays part of the rent and the renter has to qualify for it. So a guaranteed income from the government part. What about the tenant part? What do I need to know about the cons of going with a section 8 tenant? According to the current lender, the rent was never raised for 4 years. How hard is it to adjust the rent to the current market? Who decides how much to ask for rent? What if the tenant doesn't;t pay their part? is it more difficult to get them out bc of the government involvement?
Post: 2nd flip in Marietta GA
- Posts 75
- Votes 24
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $212,000
Cash invested: $212,000
Flipping, 3 bed 1 bath just under 1000 sqft. Reno includes Plumbing repair bathroom gutting, exterior wall replacement due to rotting, and a new floor in the kitchen and laundry room. Lucky there is nice hardwood floors throughout the rest of the home. Painting everything, interior, and exterior. Yard clean up and sheds clean up. Scheduled time frame 6-8 weeks.
What made you interested in investing in this type of deal?
Location, scop of work, the lot and potential
How did you find this deal and how did you negotiate it?
Real estate friend's listing
How did you finance this deal?
Cash
How did you add value to the deal?
Renovations cleaning the yard curb appeal
What was the outcome?
don't know yet
Lessons learned? Challenges?
Having a great partner on-site to oversee the work being done is worth every penny.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yupe I am one
Post: I want to buy a 1920 home in GA Flipp most likely
- Posts 75
- Votes 24
Quote from @Charlie Massey:
I would go ahead and plan on redoing plumbing, looking into electrical. Asbestos used to be in most flooring products, glue, and siding, etc. We replaced some windows on a 1940s house and it is pretty simple to have someone do. But if its brick like ours was, you may want to go ahead and get some measurements of the windows. Ours weren't a standard size anymore and it took weeks to get the new ones. Hope that helps.
Thx that is good input