Section 8 Housing| Landlord Review - Is It Good or Bad?

[@andrewd2140]

I think after Covid19, investors will be more open to Sec-8 tenants since they’re the only people with guaranteed rent money at the moment, I’m personally ok with sec-8 when I start my R.E portfolio

[@Karl__Pierre]

Definitely the sentiment

[@IDIOTBoxxx22]

When I start my real estate portfolio I would like to start with Sec 8 because when tenants decide to squat especially in NYC your done. I like that “guaranteed” $$. Nice info on the rent jump from 4-5 beds. So much competition in getting these below market value distress homes. I reconcile REO homes for the bank and these house must go to auction and in most cases the buyer ends up living in the house which means they can bid a big higher for the property over an investor. Maybe a video on how your process works in acquiring these distressed homes. Thanks Karl. All the best.

[@Karl__Pierre]

I started to go outside NYC if you look at some of my other videos i have picked up homes in the less than 100k price point renting them for 1600 section 8 in upper ny

[@tarrylife1826]

Thank you. This was very helpful. Considering taking my first section 8 tenant.

[@Karl__Pierre]

Glad it was helpful!

[@silbaines]

Great content! Keep giving useful tips!!

[@Karl__Pierre]

Absolutely 👍

[@NataliaBougadellis]

Your videos are super informative! Keep up the great work :D

[@Karl__Pierre]

Thanks, will do! Really appreciate the feedback. Are there specific topics you want me to cover?

[@NataliaBougadellis]

ENTP LIFE I’m just looking for a push to actually do it and start investing in real estate haha 😊 will keep watching your videos! Love the content

[@windlillylawson3944]

Next year I'm going to do that. Still gathering information. I just hope it's a good experience, plus I'll be helping someone.

[@Karl__Pierre]

As long as you screen for a good person you should be ok

[@khalilknox8098]

YOUR INFO IS GREAT

[@Karl__Pierre]

Thanks!

[@RentHomes123]

We actively look for Section 8 voucher holders who are good tenants. It's a win-win for all involved. BTW, we manage approximately 1,700 properties so we have plenty of experience.

[@Karl__Pierre]

Nice. Would love to have you as a guest on the channel. Shoot me an email at [e-mail]

[@jackgraff420]

I hope to own 1700 properties one day lol

[@eavenlyjenstillman7034]

Thank you for your information. I am a section 8 tenant.

[@Karl__Pierre]

Awesome. What has your experience been like with Landlord?

[@The_GhettoUnicorn]

Thank you for communicating this ... they think they are bad ppl and most take pride in taking care of where they stay .

[@Karl__Pierre]

Yes of course

[@carmenconde3446]

Good content, thank you!

[@Karl__Pierre]

Appreciate it. Are you a landlord considering the program?

[@dianescott2581]

Very interesting...I'm a section 8....tenent....I live alone... disabled...yet I can do all my own yard work etc....I have a slum landlord...for 9 year's....there so many issues...iv brought up.. And he always says.."if u don't like it there..move". I am scared too complain to housing authoritys....he will evict me... IV never been. He raised my rent under the table.. many times n so much More.... See, they get away...screwing over, people in my situation,. Because ...they know we're stuck...n have no extra money too move....catch 22... 🙄. Not everyone is geto n destroyes property....I work hard every day too hold this place together...cuz he won't!..... anyhow....thnx for the info. I wish You were my landlord.. bless everyone...and stay safe,!✝️🙏😷

[@Karl__Pierre]

Hi Diane, thanks for sharing. Its bias and also there are alot of crappy landlords. As a landlord it can be frustrating with tenants requesting repairs. Sometimes the repairs are out of the scope of our arrangement etc. I really don't know what to recommend other than maybe try looking at other apartments and if you find something else you like it might be best to move.

[@amadikitwana4154]

Good info.

[@Karl__Pierre]

Thank you are you an investor?

[@darrellwinfree3583]

I live in an area that has a problem, to much money. The area is one of the most affluent in FL, so they have price points all over the map, and its tourist industry workforce is the largest. Affordable housing is a problem, recently an investor came and worked a deal with a builder and bought up 12 or so new built properties as rentals. To me, that was insightful, he met an increasing demand at the right moment. Opportunities are still out here for someone looking for long-term hold properties...

[@Karl__Pierre]

Cool it happens and every investor has a different buying criteria.

[@thorntonconsultingfirm5274]

Great video! Thank you for sharing your knowledge. I'm a property owner in GA. How do you handle Section8 applicants from other states, looking to relocate? Do you consider out-of-state applicants porting over to your county/state? If so, what is your background process?

[@Karl__Pierre]

I think section 8 is state by state sometimes down to the county so they would first have to be approved in that area. Then you would have some sort of inspection to qualify the home. Most important thing is screening the person for being a good and easy to deal with client. No different than how you would screen any other tenant. The only difference is who is paying the rent.

[@thorntonconsultingfirm5274]

@@Karl__Pierre Thank you so much

[@meditationlounge620]

We need more landlords like you.🥰

[@Karl__Pierre]

Hahah definitely not what the world needs. Thanks for the kind words.

[@meditationlounge620]

@@Karl__Pierre Why are you putting yourself down. Is your self esteem that low?

[@Karl__Pierre]

@@meditationlounge620 I'm actually pretty self critical and working on it with a psychologist actually. My self esteem isn't low, I get uncomfortable with positive feedback and spend most of my time thinking how and where I can improve....apparently it's not a good thing.

[@meditationlounge620]

@@Karl__Pierre I ain't trying to tell you what to do but try one day at a time to accept positive feed back. It'll be better for you.

[@Karl__Pierre]

@@meditationlounge620 thanks. I'm working on it. I have an affirmation list that I refer to daily to develop that side of my inner voice

[@bbqworld2103]

Good info, thanks

[@Karl__Pierre]

You're welcome

[@veronicatims87]

Omg I have sec8 n just want to cry I would love to speak to someone about this home search thing

[@Karl__Pierre]

Why?

[@Shannete572]

Does section8 need to know if a person is in school? And can you work full time if your on section8?

[@Karl__Pierre]

Have no idea what the eligibility criteria is

[@Shannete572]

@@Karl__Pierre ok thanks

[@Ant2Fresh]

Great Video!

[@Karl__Pierre]

Thank you

[@gspainting11]

Great great great advice. It’s that Section 8 in the Port Jervis NY property??

[@Karl__Pierre]

On of the properties up there.

[@geminigirl1111]

can i still have property management in place with section 8 tenants?

[@Karl__Pierre]

Yes you can but i wouldn't focus on Section 8 try to find the best possible tenant free market or section who will pay rent and take care of your home.

[@geminigirl1111]

@@Karl__Pierre i agree. that is what i want to do. i guess i’m just a little concerned about the whole covid thing and tenants being able to not pay their rent, so i started thinking about section 8. but absolutely, i would love to just rent to a good person or family regardless if it’s section 8 or not.

[@Karl__Pierre]

@@geminigirl1111 most people want to pay their bills. Just find a good tenant and by the time your one year passes hopefully the Covid evictions and protections our gone.

[@geminigirl1111]

@@Karl__Pierre thank you so much. you’re absolutely right!

[@hennagarden]

that was helpful!! Would like to know how it compares to a regular rental with the added stressors. Isn't it better to have short term tenants so you can raise the rent?

[@Karl__Pierre]

Matter of preference I suppose. There are pros and cons to any rental approach have to settle on the one that matches your personality

[@tamerianriese3441]

Great video

[@Karl__Pierre]

Thank you

[@CHEQUEFINANZAS]

Good program. Guaranteed direct deposit of rent on the 2nd business day of the month - even during the pandemic. As you said, problems can occur with all sorts of tenants, either section 8 or market rate (pay from their own pocket). Inspectors can be demanding, but they are doing their job - making sure the property is in good shape (might even do a lead inspection in some cities) and that we're not slumlords.

[@Karl__Pierre]

Exactly my findings. Just have to screen the tenants exactly as you would all others adjusting for the voucher when it comes to income.

[@geminigirl1111]

i bought my first house in September 2020 with the fha loan so i am living in it for 1 year, but i want to move out and rent it out as soon as i can. i am thinking of my different options now as Covid has caused tenants to stop paying rent. i’m not sure yet what I want to do but I know that i want to hire property management because i’m not a handy woman or anything like that. although my house is in excellent shape. it was recently remodeled by the previous owner from the ground up, new electrical new plumbing, hvac, carpet, paint, bathrooms, kitchen remodel, everything is new so i want to find quality tenants who will take care of it.

[@Karl__Pierre]

The majority of tenants are paying. Try to focus on essential employees with good job and credit history and you should be ok. Start testing the market now. What's your plan once you move in a year?

[@AngelicaRodriguez-ff3to]

i just bought a house in 2020 and want to buy a second home with the purpose of renting to sec 8 tenants...ive thought about moving out and renting out the house i currently live in but idk? are you planning on renting elsewhere or buying a second home to live in and renting the first one out?

[@geminigirl1111]

@@Karl__Pierre after i move and rent out this house i’m going to save up for my second property. 2nd property i’m not going to live in i’ll do a conventional loan w/ 20% down and rent it out straight on. then hopefully from there i can just start rolling and buying properties left and right! as for ME, i’ll probably just rent a nice apartment once i have enough cash flow to cover all my expenses!

[@geminigirl1111]

@@AngelicaRodriguez-ff3to i’m not going to live in my second house i’ll rent them both out. the only reason i’m living in my first property is because i used the FHA loan and that is the requirement for 1 year. going forward i’ll do conventional loans and i’ll work up to buying properties in straight cash 💵

[@gregoryjohnson7012]

If you don't mind me asking. What city is your home located and how many bedrooms do you have. I want to rent a house in the near future. I'm currently renting a apartment @suzi que

[@meditationsforanxiety4240]

Do you have a third party property management company for the section 8 property or do you self manage? I understand section 8 pays the owner directly but most PMs want rent payments to their accounts before disbursements. Any advice on being an out of state landlord?

[@Karl__Pierre]

I have my own property management. You can so setup with section 8 to disburse funds to property management you specify where funds are intended to go.

[@meditationsforanxiety4240]

@@Karl__Pierre thank you for the clarification 🙏🏼

[@windlillylawson3944]

Question: will they accept you if the home owner still have a mortgage on the property.

[@Karl__Pierre]

Yes of course. They actually just ask you to show your mortgage statement and that you are current. I will probably share what's involved in a future video.

[@windlillylawson3944]

@@Karl__Pierre thank you.

[@charlesbartus1025]

As someone knew to the rental investment business, wondering what you would recommend... In your opinion, if you came across a good deal on a 5-6 bedroom home. Would it be a better investment to fix up and rent out as a single family home with that amount of bedrooms? Or, would it be a better ROI to either convert or leave as a multi family home (assuming it was already converted) and rent out multiple smaller units? Great content! Hope the channel takes off! -Chuck

[@charlesbartus1025]

New** 🤦‍♂️

[@Karl__Pierre]

I would say multi family if its zoned as such.

[@jamesrooney7689]

what happens if they are the cause of breaking things ?? who pays

[@Karl__Pierre]

First the security deposit after that you

[@tamikabolden8219]

Do You Work In Pa Area

[@Karl__Pierre]

Not yet. What city are you looking to invest?

[@andrewzhang1217]

Most People step away from section 8 not because of they afraid of bad tenants but probably something else lol. Not everyone wants to lay under the direct sunlight you know

[@Karl__Pierre]

That could be it too but I don't think so

[@Karl__Pierre]

Enough said.

[@sierria64]

My section 8 tenet a did an addition to my home. made a third room. I have a condo. My condo was a 2-bedroom one bathroom. She had someone come in and section off my Livingroom making a bedroom downstairs. My insurance was compromised on my home. Although I had renters' insurance secondary to my home insurance, the problem was that this unlicensed unpermitted room would have voided my insurance if something would have happened. She had someone come in and do the work creating the room. I only found out when we had a leak at house and the neighbor called, she did not. So now we see why. she did not want us to find out. I had to contact attorney. This was the first time we had ever rented. We screened her ran credit check. Still, this happened She had been there for 1 year we checked 6moths ago. My lawyer told section 8 that a licensed contractor had to take it down because they drilled studs in the wall and may have compromised wall. They drilled a beam with studs for the boarder wall, my home insurance and association said the same. Also, my lawyer reported it to city they came to inspect. Section 8 called me and said you can hire someone to take down; they called me directly kept asking why a licensed contractor needs to take down. I told them that I did not put it up, and that the tenet can take down but must use a licensed contractor. What is crazy the tenet told section 8 that i told them that they could do illegal room..WTF. why would anyone allow someone they have never known to do an illegal addition in their home. That action compromised my home insurance, association insurance, and neighbors' insurance as our condo are all attached (4 homes) what if they hit a electric cable and started a fire. Section 8 kept calling asking us to take down saying you could pay someone to take down, I said nope. They even asked why you called your insurance. I told them as written to them , the tenet had a leak in the upstairs bathroom, she did not call and tell us, now we know why. The leak was so severe that water drained leaked int garage of my neighbor. The tenet tried to fix the leak and made it worse. He called us. So, we see why she did not want to call us. We called and said you have a leak we will call plumber. We went over to take pics of neighbor's damage that is when we found out about illegal room. My lawyer said section did not want to take responsibility. He said they knew what position she placed me , association and other neighbors. He (lawyer) said when they asked me to pay someone to take down, it would relieve responsibility because they would say oh you did that was caused when you higherd persons to take down., and not by tenet. He (lawyer) told me as for you calling insurance you did right to inform of this occurrence, this is illegal damage to your home. they should have known. What if a fire or expulsion would have happened due to gas or electric output being hit. My insurance stated a contractor has to take down and repair. The tenet can, but we must have the licensed contractor and number on invoice, list of damage and all repaired. She has to repair floor, internal woodwork due to studs in wall from beams, ceiling. The inner wood of walls may be split, so they may have to be built up ; due to beams require large studs and staircase inner wood may have been compromised. My lawyer said that section 8 did not want insurance involved. He said they wanted you to take down, pay for it so section 8 does not have to. He reminded me, insurance companies investigate and sue...lol. that's why they asked why you went to insurance company Well we got her evicted, on grounds that she violated her rental agreement. Unlawful addition without permit. that crazy woman told judge that oh she said I could do this. the judge said this woman and her husband has owned their home for 30 years, did not know you when they rented to you. So, i do not believe that they would let you compromise their home, insurance and being sued by everyone if something happened. Mam this was wrong on so many levels. Section 8 and my insurance settled abt damages with Statefarm. And my home was repaired.

[@Karl__Pierre]

This could have happened with any tenant a bad tenant is a bad tenant and laws protecting bad tenants suck.

[@crocky4938]

Section 8 is a ghetto scene and the property gets run down

[@Karl__Pierre]

Usually but not always

[@jenna2026]

It's mandatory in California to accept section 8 as of January, 2020. The good thing about this is it will help combat the problems and housing shortage in California. It is also now mandatory that landlords accept pets if it is an Emotional Support Animal. Smart landlords and property managers know the current laws. The good thing is people no longer need to use the "GoSection8"website to find housing anymore and be forced to live in unsafe neighborhoods/zip codes where all the tenants are also on the same program. Just remember a Project Based Voucher is different from a Housing Choice Voucher...there is a big difference!

[@Karl__Pierre]

Interesting to see how California is handling it. Thanks for sharing.