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I’m about to completely change how you view section 8 and help you buy your first rental property.

Everything I will tell you about today is the culmination of what I’ve learned from working as a realtor for the past few months. I was in your shoes at the beginning too but I researched and learned from mentors to get my license, and I don’t regret it at all.

This video is an introduction to 12 months' worth of testing and making mistakes in Section 8 by me in order to figure out what works and what doesn't in successfully investing in Section 8.

Links Mentioned in Video:
https://www.calculator.net/rentalpro...
https://www.huduser.gov/portal/datase...
https://www.hud.gov/sites/dfiles/OCHC...

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Step 1: Save Money (if u can)
The more money you save, the easier this process gets. You can still do this with little to no money, it will just take more time, potential labor, and luck. We will be using something called seller financing, which means the seller of the house will act as a bank. This makes things a lot more flexible and if you offer good enough terms, they might allow a 0% downpayment.

Step 2: Go on an MLS
An example of this is Zillow. Now lets set up some filters. First, set up for sale by agent and by owner. Then put the price from 40 100k. Put 3+ bedroom and pick a state. Ill be doing VA since im licensed as an agent here. I would recommend buying your first property in the same state you live, unless you literally can’t since there’s nothing. Now, its time to pick a property so stick around to find out how.

Step 3: Find a property
Go through the hundreds of listings and save the ones that you think are in good enough shape for you. I would start with FSBO since they might be more open to seller financing.

Step 4: Do the numbers
Plug in basically all your calculations. You can use zillow estimates for taxes and insurance. They are not fully accurate, so if you want a true value I would call the local county or your real estate agent. I would also designate around $300 a month for utilities.

Step 5: Message agent/landlord
You might only get around a 40% response rate from agents. If messaging landlords, it might be higher since it is their personal property.

Now, if you’re doing seller financing, then the response rate might be even lower.

Step 6: Make an offer/Buy the property
Let your agent guide you through the process of making an offer and buying the property since its literally our jobs to do so.

When you’re ready to get to this step, contact me on Instagram or Facebook and talk to me about the property.

Step 7: Get it converted to Sec 8
Now that you have purchased a property, its time to get it converted to Section 8. The main method to make this happen is to call your local housing authority and simply ask them.

Step 9: Get tenants
Look at these things: Personality, current landlord, car, current home, and records

Step 8: Pass inspection
After you choose a tenant, a final inspection must be done before they can move in.

Timestamps:
0:00 Introduction
0:29 Disclaimer
1:10 Precursor
1:35 Step 1: Save Money
4:02 Step 2: MLS
5:34 Plug
6:18 Step 3: Pick Property
8:16 Step 4: Calculations
15:46 Step 5: Message Agent
17:08 Step 6: Make Offer/Buy
18:27 Step 7: Convert to Sec 8
18:57 Step 8: Get Tenants
22:15 Step 9: Pass Inspection
23:42 Step 10: Hire People
25:10 Outro

#rentalproperty #section8 #realestateagent

Disclaimer:
The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information. This is a Youtube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Joseph MAY have an ownership interest in them DO NOT make buying or selling decisions based on Joseph's videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Joseph. Any use of other media is by fairuse or license only. I am not a CPA, attorney, insurance, contractor, lender, or financial advisor.