All Forum Posts by: Tim Delaney

Rent is rent. I've never heard of a lender that wouldn't count Section 8 payments as income. If anything they are even more reliable. I've done refis with section 8 tenants in the units from traditional banks and dscr lenders.

Overall the best way to start learning is listening to podcasts and reading books. Then start analyzing deals so you get comfortable with that process. You should also pick a market - I think BP has a tool for that. I live in Buffalo, NY and invest here mostly in LTR BRRRRs and flips. NY isn’t the best state for landlords, but if you screen tenants well it isn’t all that bad.

Once you pick a market find a rockstar agent. They will be able to help you with estimating ARV and rents. Just make sure they know what they are doing. Find a contractor to help with repairs estimates or read J Scott's book on Estimating Rehab Expenses.

Good luck getting started! Hope this helps a little

The best way to get experience is to do the thing. For real estate just start analyzing as many deals as you can so you get more comfortable and confident. Listen to podcasts, read books, and if you plan to invest in the Netherlands find some resources that speak to that market specifically.

Listen to as many podcasts as you can and attend all of your local meetups to connect with other investors.

I think it’s definitely worth looking into. Is there a market you have anyone that you trust that would be willing to help you out in a pinch? You also may need to start with more capital so you are prepared for unexpected situations.

 Yes, as far as my non-lawyer understanding of the laws read, it doesn't matter that there is an end date in the lease, you still need to provide proper notice if you are not going to renew it. And the timing of that notice is important. You may actually have it worse in NYC as opposed to the rest of the state, make sure you look up the exact laws and/or speak with a lawyer. Maybe the section 8 person can help advise you, but I'm certain they will give a disclaimer with anything they say that you still need to consult your own lawyer or read the rules.

 You must have helpful Section 8 agencies - anytime I've talked to the tenant's caseworker about issues they just say "not my concern".

Not sure what market you are in, but I would talk to some lenders about FHA options on a 2-4 unit property. They will be able to use your income and the income from the other units. I'm not sure if they still have the 2 year requirement on income if it's going to be your primary residence.

Congrats on jumping in! Sounds exciting. A friend of mine used to live in Togo, it sounds like an interesting place.

I'm not sure how much of her advice and information will translate from Texas to Togo, but check out Katie Neason on Instagram (@katiedevelops): https://www.instagram.com/katiedevelops/

Hopefully your lease has "right to quiet enjoyment" clauses which would give you grounds to evict, however if you don't have audio then you will be reliant on the other tenants providing statements or testifying at the eviction hearing. Since the lease is expiring and I see you are in NYC it will probably be much faster to just not renew the lease. Unfortunately, since you said less than a month till expiration you are already too late to tell them. You need to provide at least 30 day notice to a tenant that you will not be renewing in NY State. That goes up to 60 days if they have been there for more than 12 months and it goes to 90 days if they have been there for more than 24 months.