All Forum Posts by: Vasa G.
Vasa G. has started 6 posts and replied 33 times.
Post: Section 8
- Investor
- Washington, Washington D.C.
- Posts 34
- Votes 5
Post: Section 8 and HCVP in Washington DC
- Investor
- Washington, Washington D.C.
- Posts 34
- Votes 5
Hello all,
I am getting the single home family for my long term rental portfolio in NE that I want to rent it out to section 8 tenants. So far I have been only dealing with regular tenants so I am looking for some advice with section 8 tenants, I know that section 8 rules are different in every state, so I am hoping to get some insight for DC. Here are some of the questions that I would like to knw the answer too
House is fixer upper and it will need updating. I didnt find any specific rules for section 8 housing when if comes to property inspection listl, but I did deal before with DCRA rules for registering the rental property and it was a pretty straight forward. Is there anything extra that DCHA will need besides DCRA rules?
Any advice when dealing with DCHA?
Can I use my own lease or there is a specific lease for DCHA Section 8 housing?
Ceiling rent with DCHA for that neighborhood is pretty much how much will I ask for the rent. So can I put my rent price to the match the ceiling rent of DCHA completely so that way tenants dont have to pay out of their pocket? Or they have to pay out of their pocket too? As I dont want to deal with tenants for the payments. I prefer to get only direct deposit from DCHA.
Stay warm out here and Happy Holliday to other BP members!
Post: Private Lending for Buy & Hold
- Investor
- Washington, Washington D.C.
- Posts 34
- Votes 5
David, I understand and fully support your idea as that is something I am building for my own portfolio.
I have read many great advice's from RE investors in this post. And that is what BP is great place for.
When looking for people to fund your portfolio I would also look somewhere else as for this kind of financing, your target should be more conservative ( regular ) people.
I use the principle "word of mouth" where I have started with regular people you know and offer them to put really small amounts ( starting from $1K and up ) into your portfolio. I offer interest only payments I call it CD payments as it is very easy to people to understand and believe me it is working as my network is growing. This is definitely long term approach, but I am trying to build trust and for that takes time.