Thoughts on Section 8 housing rentals...

[niceguyeddie]

I went through this twice and it's a pain in the ass. Like Matt said, you'll get a portion on time, but it's highly unlikely that you will get the other portion on time or at all. When I would drive out to my rental to pick up rent, the tenants would cry poor mouth, yet they had new spinning rims on their car or Air Jordans on their kid's feet. They make promises to pay you payments and even that rarely works out.

By the way, I HATE Long Beach. Not the city in general, I just won't ever buy anything there again unless it's in a pimp area. I had nothing but head aches and lost money on a property there that I recently sold. If at all possible, stay the hell out of the inner cities. Invest in areas where you will not have head aches or where the police will respond to a squatters call in less than two hours. There are some pretty good rental deals in the IE where you live, look there. make sure you are working with a RE agent that actually knows what they're doing when it comes to buying/selling rental properties. Most RE agents are full of shit and pretend to know what they're doing.

Oh and don't worry about netting money, let the rent pay the mortgage down(get out of debt)! You also need to save some of that money for vacancies, repairs and etc. Keep it in your corp.