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I got a question for your real estate investors. I found a in good shape foreclosure for 27k. 3 bed 2 bath. My section 8 program locally will pay 1.1k a month for a 3 bed rental. That's almost a 50% ROI. What am I missing? There is no way it's that simple.
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Section 8 for yourself or for renting the rooms out?
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>>1326858
the fact that section 8 tenants will destroy it.
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>>1326858
Holy shit 27k.
Foreclosures in my area dip from 300k+.
Where are you so I can gobble up 50 properties and gentrify.
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>>1326906
This
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>>1326858
are there back taxes owed on the property? is it subject to any liens?
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that might be how much is owed on it
if you go to the auction a representative from the bank will outbid you to get the house back
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>>1326858
https://www.youtube.com/watch?v=Puc1CLwWNms
This is what subhuman section 8 tenants will do to your rental property
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>>1326858
Section 8 makes you get it up to a pretty high code before they let you lease.
But yeah if its CBS construction section 8 all the way. if its wood. lol nope.
Wood is for the middle class.
>>1326977
yeah taxes, liens and other claims are important to investigate.
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>>1327037
The 27k is all that's owed. It's in a lower income area and there are many houses around that same cost. So I can't use it if it's wood? For 12k a year I don't mind some beating up of the property. I could buy two with my current loan rates.ci will make sure the tenant is employed and has a not shit credit score
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