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Thanks! Gets better every day. Working on it.Beautiful building! I love the black windows and ornate woodwork just beneath the roof.
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Free registration at the forum removes this block.Thanks! Gets better every day. Working on it.Beautiful building! I love the black windows and ornate woodwork just beneath the roof.
Usually 2-3 weeks but sometimes longer.How long does it take you to rent these units? I recently purchased a small condo in a seedy part of Cleveland that I've been having trouble getting rented. People who are interested aren't qualified, and people who are qualified aren't interested. It's a narrow intersection of people who would be interested and qualify. It is listed on Section 8's website, but there hasn't been a ton of interest from there.
Usually 2-3 weeks but sometimes longer.
What are your goals with the property. Are you planing to buy more units in the same development? I’m not a big S8 guy. I have a 5 or so but I don’t plan on getting any new ones and when they move out I’ll look for market rate tenants.
Do you live nearby
I don’t pay too attention to how long it takes. I focus more on getting the best tenant for the long term. Ex. Right now I’m trying to convince some of my tenants to.break his lease in one of my buildings and move to my new property. It’ll cost me money to get him to move. I’ll rent it to him for less. But he’s like the Arnold Schwarzenegger of the neighborhood do I don’t mind losing a bit of cash flow.
We've been advertising it since early February, so it's been almost 3 months vacant. Just want to hold for cashflow. If the numbers work out like how we projected, we would buy more in the same development, since they're dirt cheap. If it's going to take 6 months or longer to rent, though, we'll move on to a different area.
We are not local. We're priced out of the market we're in (NorCal) so we turned to the midwest for investment opportunities. We're using a property management company who has a solid tenant screening process and requirements, which is why it's taking longer than I imagined it would.
I've heard a lot of different opinions on S8. Some people swear by it and others don't go near it. I'm open to experimenting. Thanks for your advice!
It was listed for rent in February. My PM just updated me that last week they had 40 inquiries, 3 people showed up for a tour, and the one person who submitted an application was not qualified. They say there isn't a lot of interest in the area right now because of some recent criminal activity. Frustrating.I would think 3 months is a bit extreme unless it’s a really harsh climate and those months were January February.
I house hacked my first three houses. At this point for me it would be a bit tougher but if you can make it work by living in your investments and then moving out and renting that’s a great way to go. Does you local California properties have a better chance of appreciating than the property you buy in Midwest?
How long does it take you to rent these units? I recently purchased a small condo in a seedy part of Cleveland that I've been having trouble getting rented. People who are interested aren't qualified, and people who are qualified aren't interested. It's a narrow intersection of people who would be interested and qualify. It is listed on Section 8's website, but there hasn't been a ton of interest from there.
i just checked and my property management company has posted it to Zumper. Sadface.I don't know your area, but I do rentals in South Florida. Advertise on Zumper. It is free. Make sure to use the words "section 8 welcome". Do it every day or more and change it up a little bit every time. If you need help with it, let me know. I do this without the section 8 part and still, get a ton of section 8 leads every month. Feel free to contact me if you need help with this. Good Luck.
This event was canceled probably better off I’m a little buried right now I’ll probably need that to a three hours that I would’ve wasted at this thingHere it is. I’m not getting compensated for speaking and as far as I know they are not pitching anything....but there is no free lunch so I would expect at the very least some sort of ...give and take like asking for emails etc.
I’ve been to a few of these some good some horrible. I know these guys they are successful and def doing this for real. Vinny has a big portfolio Dwayne is also legit. 30 or 40 units from nothing like me.
Heads up:
If I don’t like the vibe at these things I tell them I’m out of cards and give them johnny1234@hotmail.etc 555-1212.
I’m thinking to start moving toward a residual income coaching type model. Dwayne does this already. Maybe I can teach better than do. Making headway with my portfolio. I like the coaching stuff. At any one time I’ve got 1/2 dozen newbies that I’m coaching and it’s starting to get cumbersome....at least doing it for free is. So I was going to start reading up on how the guys here did it...instead of my usual MO of just starting from scratch, learning as I go and beating my head against a wall.
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Thanks for the support.@JohnD Realestate I just wanted to say that I really love your thread. Your action taking is inspirational! One of my favorite progress threads.
Thanks!Great job and Congrats!
I am a Realtor in South Florida and you would be amazed at how many people here call themselves "investors". They want big profits with no risk. You took the risk and were rewarded for it. These "investors" could learn a lot from you.
Good going! Keep it up!View attachment 27175
Sold these three today. Bought in 2017 for 560. Sold today for 895k. More to follow.
Yeah. That pretty much sums himPartners usually suck.
Is that a Humvee in Brooklyn? Lol. What did they catch Scarface?
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