All Forum Posts by: Shane Moore

Quote from @Jay Hinrichs:

its a specialty niche no doubt.. those that think its easy and guranteed rent usually end up in a bad place.. those that Micro manage every aspect and are local and know what to expect can make it work..

However one just needs to consider the tenant base of section 8 basically nationwide.. your talking single mothers and multiple children .. those are the toughest situations for the homes for on going maintenance and repairs.  And if does not matter if your section 8 or not but you have small children living in a home your homes are going to take a lot of abuse.. Kids are kids and they bang into things they break things they break window shades they stand on oven doors they spill things etc etc..

Definitely  a great point to consider… the community that I am currently in is definitely catering to those who have multiple children as well. Thanks for the feedback. 

Blessings,

Shane 

Quote from @Jaycee Greene:

Quote from @Shane Moore:

Good morning BP family,

I currently hold a couple of Long Term rentals one sfh and one duplex with a commercial property north of Macon and have a friend that invests in the area but does not have section 8 rentals because she inherited all of her properties and they were never set up as section 8. That being said, I have been considering section 8 sfh investments here in Macon Ga. and wanted to get feedback from those who have been there and done that or have experience in that specific market. What are the pros and cons of section 8 investing? Is it worth the headache (dealing with the government is bound to be a headache) at least this is my assumption. Does it result in properties more prone to property damage, difficult tenants, and troublesome evictions etc. What is the sweet spot for home sizes? Are their certain size homes required (ie. Sqft)? Any guidance and direction in this would be greatly appreciated. I appreciate the wealth of knowledge that you guys represent.

Peace and Blessings,

Shane 

Hey @Shane Moore The success (or not) of S8 properties can be highly dependent on your relationship with the housing authority that manages the area. You'll want to know what the FMR (Fair Market Rent) is for your zip code/bedroom count. My clients that have S8 units do a lot of upfront tenant screening, which can reduce the amount of damage/tenant issues. Also, I'd highly recommend checking out Mike Curadossi's, "Section 8 Done Right".

 Thank you for the information and the recommendation of the book. I have been working along side our city development director to take my current properties to a new level. We want to make a better/nice property for people to be proud to call home. That is part of what makes me reluctant to pursue S8. The city has been great so far. I will definitely discuss this inquiry with them. I will also check out the reading recommendation. 
thank you,

Shane 

Josh,

I am currently investing in Thomaston, Griffin, and working on landing some properties in Lamar County. 

Good morning BP family,

I currently hold a couple of Long Term rentals one sfh and one duplex with a commercial property north of Macon and have a friend that invests in the area but does not have section 8 rentals because she inherited all of her properties and they were never set up as section 8. That being said, I have been considering section 8 sfh investments here in Macon Ga. and wanted to get feedback from those who have been there and done that or have experience in that specific market. What are the pros and cons of section 8 investing? Is it worth the headache (dealing with the government is bound to be a headache) at least this is my assumption. Does it result in properties more prone to property damage, difficult tenants, and troublesome evictions etc. What is the sweet spot for home sizes? Are their certain size homes required (ie. Sqft)? Any guidance and direction in this would be greatly appreciated. I appreciate the wealth of knowledge that you guys represent.

Peace and Blessings,

Shane 

Good to know, I have that on my list of want to read books so, I think I will move it towards the top of the list and catch it next. Thanks for the review!

Peace and Blessings,

Shane 

Quote from @Josh Bowser:

Carlos - congrats on the success so far!

From what I am seeing/hearing, there is room rental demand just about everywhere in the country. Great way to test demand would be to poke around Facebook housing groups in your area to see what rooms are going for and how many people are on there looking for rooms to rent. You can even post a 'tester' listing on FB marketplace/Craigslist/Zillow/furnishedFinder ect to see what demand looks like.

I work with a ton of Coliving investors in Atlanta that operate on the padsplit platform - lot of demand here due to the discount you can rent a room for vs. going out and renting an apartment.

If rents are relatively expensive in Cape Coral - good chance there is a lot of demand for individual room rentals.

This is all great information... do you know if these room renters are signing a short/mid/long term lease? I invest about 60 miles south of Atlanta and have often wondered about renting by the room. 
Thank you in advance,
Shane 

Thank you all for the feedback. I appreciate your insight.

Peace and Blessings

Shane 

Quote from @Benjamin Aaker:

Sounds like you have a nice find, there. Seems like you would want to start looking for commercial tenants right away. Ones that would synergize with the senior community. It's not huge, so a bodega-type thing comes to mind. 

 My daughter and I have been kicking around the idea of a coffee shop, but the space and parking is so limited. I'm definitely going to have to rehab for whatever it is... should I consider finding a business and build to suite their needs? I have never really dealt in the commercial side of things.

I certainly appreciate your feedback. I am open to ideas on this one for sure!

Peace and Blessings,

Shane

I tend to get tunnel vision when working on a project so I want to see what ideas other people would have.

Quote from @Matthew Becker:

Shane, it seems like you understand this fine, and you just want confirmation you are doing the right thing.  It is hard to tell without understanding the data behind it.  What you paid, rent, cash flow, loans all kinds of market data.  If it is easy to rent and you can make money, then great.  What is your question? I would try to get it zoned to rent the commercial separately unless you talk to city staff and they tell you they would be opposed to it.  Other than that.  Rent it cash flow buy another. 

I guess my question is this "Would you push to have it rezoned and turn the commercial space into a SFH for rental, or would you hang onto the commercial space/zoning and just try to rent the commercial building as commercial space. It will need to be fully rehabbed either way I go with it. I am just trying to hear other perspectives on it. 
Thank you for the feedback... I really do appreciate it.
Shane