GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Anybody into the renting houses biz in here?

mindoza · 01-20-2005, 08:24 AM

I have section 8 properties that I had convreted into rooming houses/apartments. My dad has been doing this for many years so I just followed his lead. He also did all the rehab/construction work. I have had them for just a year now. I pay the mortgage for one and then payoff the cost of renovation and have very little in my pocket. The renovations will be done being paid next month so now I will bring in a nice bit of extra income.

After the summer I plan to buy 2 more properties. One of the properties I did pay for cash $10,000 so I only have one small mortage payment. Having Tenant in the ghetto can be trying and there are lots of hidden cost from repairs and deadbeats. The section 8 property of course gets paid by the government but sometimes it is hard to get the $100/month they may owe on their own.

01-20-2005, 08:24 AM
mindoza Confirmed User Join Date: Jan 2004 Location: Philadelphia Posts: 1,625	I have section 8 properties that I had convreted into rooming houses/apartments. My dad has been doing this for many years so I just followed his lead. He also did all the rehab/construction work. I have had them for just a year now. I pay the mortgage for one and then payoff the cost of renovation and have very little in my pocket. The renovations will be done being paid next month so now I will bring in a nice bit of extra income. After the summer I plan to buy 2 more properties. One of the properties I did pay for cash $10,000 so I only have one small mortage payment. Having Tenant in the ghetto can be trying and there are lots of hidden cost from repairs and deadbeats. The section 8 property of course gets paid by the government but sometimes it is hard to get the $100/month they may owe on their own. __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, then you may use a 624x80 instead of a 120x60.