All Forum Posts by: Sam McClellan

thanks for responding @Dick Rosen @Andrew Syrios @Debbie Mailloux 

it seems to me that the problem is with certain tenants and not with the section 8 program itself. I'll be sure to properly screen all prospective tenants to make sure I don't end up with people who trash the place. 

@Mark Gallagher I can definitely see some of the benefits. For the option you mentioned regarding the utilities, how did that work? You incorporated the utilities into the rent, which was then paid by the government? 

Thanks @Mark Gallagher 

does it take a long time to get a Section 8 tenant in? @Account Closed mentioned an inspector. Is there a lot of back and forth typically? Bureaucracy?

Thanks @Account Closed 

I think I will take your advice. I don't see a huge problem if the tenants were ok, but it seems I'd be taking a big risk, especially being that I have zero experience as a landlord. 

Hey BPers,

I just recently closed my first deal: a duplex in Oakland, CA where I am living in one unit and will rent the other. I also just put up a listing advertising the other unit, and got a quick response from someone who wants to know if I will accept Section 8?

Interested in hearing about the pros and cons from those who have experience in this. In particular, anyone who has both owned and lived in the same building to Section 8 tenants.

Thanks J for providing so much detail on renovation costs and how you structured your partnership. It is very valuable to learn from your experience with Homepath, Oakland, etc... I've normally ignored properties that have been on the market over 6 months but perhaps I should reconsider...

Congrats!

I'm in!

In State / Out of State?
In-state. still looking for my first deal

Strategy?
Buy and hold for income.. also hope to pay my own mortgage rather than someone elses...

Type of properties?

2-4 unit

Looking for?
Advice, stories, insight

Can offer / knowledgeable about?

I can only offer what I've learned the past few months while shopping for my first place. sorry, not much...

@J. Martin I'm all in for lunch as well!

Happy to see the meetup's in my neighborhood again! Looking forward to it...

In State / Out of State?

In-state. Considering partnering with friends/family in Chicago, but looking on my own here in California.

Strategy?

buy and hold.

Type of properties?
2-4 units in B or C areas.

Looking for?

advice

Can offer / knowledgeable about?

my recent experience shopping in Stockton and Oakland, areas in Chicago, traditional investments (non-real estate)

Thank you all..

I'm actually not in contract yet, but if everything goes right hopefully I will be soon. What I will be doing....

1. finding a property manager to come along and provide professional insight

2. looking at the condition of the interiors

3. requesting the rent roll from the seller

4. asking tenants if they have any issues

5. asking tenants if they plan on staying after their leases run out

6. looking for evidence of pets

One again, I really appreciate you all taking the time to help out a beginner!

This is very valuable to me

thank you @Paul Timmins and @Kimberly T. for the advice.. I was planning on going with my realtor.. I think I'll get in touch with a PM to join me... any idea on what a PM and/or contractor would charge for this type of service? I know it varies depending on area. I'm just thinking that if it's going to cost me, perhaps it's better to do once I get into contract and not before??