I'm a new Section 8 landlord,
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I'm a new Section 8 landlord,
So, my newly built 4-br house is days away from being completed and I'm thinking about letting a Russian family rent via Section 8. They acted like they've won a lotto because most Sec 8 rental homes are no better than rat's nests (like Scot's nest that was damaged by Tasty 
. I think he quit the Sec 8 thing since...), while this one is a newly built $315K house that's fully furnished with appliances, garage, and even a hot tub. 
Anyway, I asked around and the consensus was that Russians are pretty clean and considerate tenants. I was hoping to get an Asian family, but none called. When it comes to Sec 8 tenants, the only good choices are either Asians or Russians, for they are new immigrants and thus, needing Sec 8 is understandable; and they are neat and considerate. Whereas, I've heard terrible things about the white and black Americans on Sec 8.
Reason for choosing Sec 8 tenants? They're more long-term and stable (in terms of rent money). Man, I still can't believe I'm renting out a brand new house to a Sec 8 family.
Anyway, are there other Sec 8 landlords on here? Any advice for me? Thanks!
. I think he quit the Sec 8 thing since...), while this one is a newly built $315K house that's fully furnished with appliances, garage, and even a hot tub. Anyway, I asked around and the consensus was that Russians are pretty clean and considerate tenants. I was hoping to get an Asian family, but none called. When it comes to Sec 8 tenants, the only good choices are either Asians or Russians, for they are new immigrants and thus, needing Sec 8 is understandable; and they are neat and considerate. Whereas, I've heard terrible things about the white and black Americans on Sec 8.
Reason for choosing Sec 8 tenants? They're more long-term and stable (in terms of rent money). Man, I still can't believe I'm renting out a brand new house to a Sec 8 family.
Anyway, are there other Sec 8 landlords on here? Any advice for me? Thanks!
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From: Houston, Texas
How does the math work out on that? Mortgage on a $315,000 house with 20% down and 30 year loan at 4.75% is $1315/month. Add insurance $100/month, and taxes low estimate of $500/month and you're looking at close to $2000/month. In Houston, the HUD considers fair market rent for a 4-bedroom house to be $1560/month. Where is the other $400/month coming from?
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What was your name before Steponme? Were you the guy that was ousted? I can't remember the username at the moment.
The slumlord stuff with Scot and Tasty happened well over a year ago.
The slumlord stuff with Scot and Tasty happened well over a year ago.
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I hope you're joking. There are so many Fair Housing Act violations in your post it's not even funny.
Your neighbors are going to hate you. Wait until you see what a house rented on section 8 does to property values in your block (including, of course, your own house).
Has your house been approved for Section 8 already? I doubt that your local gov't would approve a fancy, newly constructed, hot-tub equipped home. If they do, it will only be for whatever the rate is for a 2 or 3 bedroom (depending on the size of the family renting it) in a run-down area. That means your tenant will have to put the rest to cover whatever it is you're charging for rent. So if you think Section 8 tenants are more long-term and stable, you're in for a susrprise! I've seen tenants that only had to cover $30 a month and still wouldn't pay, even if it meant eviction from the Sec 8 program. $30 a month. I'm guessing the difference in your home will be a little more than that.
Also, get a concealed weapons permit if you don't have one already.
Good luck!
Your neighbors are going to hate you. Wait until you see what a house rented on section 8 does to property values in your block (including, of course, your own house).
Has your house been approved for Section 8 already? I doubt that your local gov't would approve a fancy, newly constructed, hot-tub equipped home. If they do, it will only be for whatever the rate is for a 2 or 3 bedroom (depending on the size of the family renting it) in a run-down area. That means your tenant will have to put the rest to cover whatever it is you're charging for rent. So if you think Section 8 tenants are more long-term and stable, you're in for a susrprise! I've seen tenants that only had to cover $30 a month and still wouldn't pay, even if it meant eviction from the Sec 8 program. $30 a month. I'm guessing the difference in your home will be a little more than that.
Also, get a concealed weapons permit if you don't have one already.
Good luck!
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From: Benicia, CA
Originally Posted by Sr2oD3,Jan 13 2011, 09:27 AM
read the whole sentence.
But since you're dead set on trying to prove me wrong...
Put the post in context. These are Russians, they have white skin. They are on section-8, thus they are American. This would lead any logical being to deduct that they are both Russian Americans, and white Americans.
Get it?
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Originally Posted by X4DLuvOfSpeedX,Jan 13 2011, 10:23 AM
I hope you're joking. There are so many Fair Housing Act violations in your post it's not even funny.
Your neighbors are going to hate you. Wait until you see what a house rented on section 8 does to property values in your block (including, of course, your own house).
Has your house been approved for Section 8 already? I doubt that your local gov't would approve a fancy, newly constructed, hot-tub equipped home. If they do, it will only be for whatever the rate is for a 2 or 3 bedroom (depending on the size of the family renting it) in a run-down area. That means your tenant will have to put the rest to cover whatever it is you're charging for rent. So if you think Section 8 tenants are more long-term and stable, you're in for a susrprise! I've seen tenants that only had to cover $30 a month and still wouldn't pay, even if it meant eviction from the Sec 8 program. $30 a month. I'm guessing the difference in your home will be a little more than that.
Also, get a concealed weapons permit if you don't have one already.
Good luck!
Your neighbors are going to hate you. Wait until you see what a house rented on section 8 does to property values in your block (including, of course, your own house).
Has your house been approved for Section 8 already? I doubt that your local gov't would approve a fancy, newly constructed, hot-tub equipped home. If they do, it will only be for whatever the rate is for a 2 or 3 bedroom (depending on the size of the family renting it) in a run-down area. That means your tenant will have to put the rest to cover whatever it is you're charging for rent. So if you think Section 8 tenants are more long-term and stable, you're in for a susrprise! I've seen tenants that only had to cover $30 a month and still wouldn't pay, even if it meant eviction from the Sec 8 program. $30 a month. I'm guessing the difference in your home will be a little more than that.
Also, get a concealed weapons permit if you don't have one already.
Good luck!
That's why one should only select Russian and Asian Section 8 tenants. Yes, it's discrimination, but oh well. I know TONS of people who are letting Russian and Asian Sec8 tenants rent for many years without a hitch. Moreover, their houses are always spotless. I'd rather destroy the house than to let the white and black Americans (and even Hispanics) on Sec8 live in it. There's a HUGE difference between the aforementioned. Well, just ask Scot (or many other people). Btw, my tenants qualify for a 4-br home. Heck, I even passed on many applicants who wanted to rent it with their own money. I locked in at 4.1% 15-year loan. After all said and done, mortgage, tax, and insurance come to 1/3 of the rent money.
It'd be crazy to down just 20% and let the Sec8 people rent. So...any other Sec8 landlords in here?
I'm still a bit apprehensive to lease out a brand new house to any family.P.S. Geez! My post sounds a little racist (or rather discriminative) but since I'm favoring the white Russians, I guess it's okay then.