All Forum Posts by: Tim Townhill
Tim Townhill has started 1 posts and replied 10 times.
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
Quote from @Jordan Moorhead:
@Tim Townhill was that for tenant owned homes or did you own the homes in the park?
It was both, but knowing how they treat property is also a good indication of character despite a poor credit rating
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
I totally agree - we FaceTime potential tenants to see where they are living - I did the same with my mobile home park
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
appreciate the guidance- my entry point is around $125k with renovation included in a reasonable area - we shall see
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
Quote from @Travis Biziorek:
Quote from @Sebastian Bennett:
@Tim Townhill please report back to us in 3 years and let us know how these section 8 investments are working out (especially if they are single family). I almost made the mistake of paying a Philly guru who was going to teach me the ins and outs of buying section 8 homes and after reaching out to others on BP who invest in better market real estate, realized its incredibly risky.
The experience has been pretty solid for me. Yes, annual inspections can be annoying but it's not a big deal.
As far as paying a guru to teach you how to do S8. It's not complicated. Buy a rental, find a S8 tenant, sign a lease, submit paper work to the housing authority, wait for inspection, fail inspection, fix issues and schedule next inspection, pass inspection, move tenant in, done.
There, I just taught you how to do it :-)
thats was my gameplay :)
Post: Section 8 Tenants? How to find the list?
- Developer
- Posts 11
- Votes 6
Quote from @Trenton Maye:
thanks for the advice! Now i’m Off to find my first rental property that I can rent low income
how did you get on Trenton?
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
waiting for areas to become gentrified or expecting it to happen is again a risk. As I said it's about appetite. My friend has seen and had horror stories - it's the same in any affordable housing market. I am going in with my eyes open and we shall see - I am a cynic like you, but plan for the worst is my way of viewing the investments
Post: Local Landlord insurance policy rates
- Developer
- Posts 11
- Votes 6
Quote from @Ozzy Sirimsi:
I normally pay $800 for a 4 bed 2 bath townhouse in the city, and i have a lot of them
Hey Ozzy, could you let me know your broker for your insurance? I have a growing portfolio and need to look at rates. Than you sir
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
There is no doubt that REI in Section 8 is risky, but the entry point is attractive with leveraged yields well in excess of what you can achieve in regular REI. The issue is scale. You really need to get to 100 units. That will take probably 5 years. A buddy of mine did build a portfolio of 150 units in Philly (germantown actually) and has created equity of about $15MM over 10 years. There are no get rich quick schemes, and I have built a mobile home park before so understand some of the challenges of affordable housing. Nothing is risk free, it all depends on your appetite/tolerance.
Speak to you in 2027 :)
Post: Building a Section 8 Portfolio
- Developer
- Posts 11
- Votes 6
Hi everyone,
I am starting to build my section 8 portfolio in Baltimore and would be keen to meet any like minded individuals or groups to share any stories or ideas.
tim
Post: Here is where I have found each of my 8 Mobile Home Park Communities
- Developer
- Posts 11
- Votes 6
Debra, not sure how to private message on this platform, but I have experience, buying/building and selling MHP's. Would be interested to hear your story