All Forum Posts by: Paul Smythe

I'll try and sum this up as efficiently as possible. I am about to go under contract for a Section 8 house. I've run my calculations and it appears to be an excellent return.

What sort of extra due diligence (if any) should I do for section 8 specifically?

I have not yet visited the house. I will this weekend. The tenant is already in place (and has been for 7 years). I have not signed the contract, but as it stands I am only getting 7 days of due diligence. Is that enough for my section 8 research?

Any section 8-specific advice would be appreciated. I've got a good adviser helping me out, but I would appreciate other input on the HUD side.

I have accidentally posted this to the wrong section. Is someone able to remove this thread and I will post it in the correct section?

I'll try and sum this up as efficiently as possible. I am about to go under contract for a Section 8 house. I've run my calculations and it appears to be an excellent return.

What sort of extra due diligence (if any) should I do for section 8 specifically?

I have not yet visited the house. I will this weekend. The tenant is already in place (and has been for 7 years). I have not signed the contract, but as it stands I am only getting 7 days of due diligence. Is that enough for my section 8 research?

Any section 8-specific advice would be appreciated. I've got a good adviser helping me out, but I would appreciate other input on the HUD side.

I recently moved to the Doraville area. I doubt I have as much knowledge about the area as you do Adam, but it seems like a nice area in my month and a half here. I definitely agree with the blue collar comment, though. That describes my neighborhood very well.

I have seriously considered a tiny house for myself in the past couple years. I don't want a lot of space (except for a yard) and a tiny house would be very cheap. It is just me and my dog, though. Anyone else would probably be harder in such a small place.

I don't have any knowledge about the Section 515 program, but just from the numbers you provided it seems like a very good return on your investment. Are you getting these numbers from the property owner or are you just estimating?

What is the current occupancy of the property? Does it need any maintenance or repairs done? The price seems low for 16 total units, but I'm assuming it's in a bad area.

How do you guys typically determine where each property type is in the cycle? Cap Rates?

I might recommend an old college textbook. Sounds funny, but honestly if you're ever curious about a term you can just look it up in the book. Also they have a lot of information in them. I'd recommend this one:

http://www.amazon.com/Real-Estate-Principles-Value-Approach/dp/0073046213/ref=sr_1_3?ie=UTF8&qid=1424390732&sr=8-3&keywords=real+estate+principles+a+value+approach

I'm looking to immerse myself in Real Estate, specifically Development but also Investment and Asset Management. I've worked for a family-owned Investment Company as the Multifamily Analyst, so I do have experience other than my degree. I'm graduating in May with degrees in RE and Marketing from USC (South Carolina).

I'm hoping I can get some input and advice about how to get started. Development is what excites me the most, so I'm really hoping to hear tips to immerse myself in that.