Rental and Cashflow Property - Management, Strategies and More

The Most Common Fail Items on a Section 8 Inspection
1) inoperable smoke alarms (batteries dead or missing)
2) missing or cracked electrical outlet cover plates
3) railings not present where required (handrails for steps most commonly required)
4) deteriorated paint surfaces (i.e. peeling, cracking, flaking paint on exterior and interior surfaces
(lead-based paint is an issue for all units built prior to 1-1-78, specifically with a child under age 6
in the family)
5) tripping hazards caused by permanently installed floor coverings (carpet/vinyl)
6) cracked or broken window panes
7) inoperable burners on stoves or inoperable range hoods
missing burner control knobs
9) defective refrigerator gaskets (broken seal allowing air to escape)
10) leaking faucets or other plumbing

After determining that the rent amount is reasonable on a section 8 voucher property, Housing Inspections staff will contact the landlord to schedule a date and time for the housing quality standards (HQS) inspection. Inspectors conducting Section 8 inspections will be looking for health and safety items, along with Federal housing quality standards and minimum local housing codes.

Here is a basic landlords checklist for section 8 housing choice voucher program:

Landlords will want to note the Estimated Maximum Rent listed on voucher. If it is less than they are willing to accept in rent, the family is not eligible for their unit. Ensure that the Section 8 Voucher is current and be sure to get the name and number of the Housing Authority (HA).

It is the landlord's responsibility to find a family who will take care of your property.

Establish and collect a security deposit if the landlord chooses to do so. The Housing Authority is not responsible for the collection of the security deposit.

One of the most common methods of evaluating a purchase in commercial and residential real estate investment is cash flow. In commercial real estate you will often here everyone talk about the cap rates. In residential real estate a common one is the gross rent multiplier (GRM).

To calculate GRM:
* Estimated (or known) rent x 12 months = Annual Rent
* Asking price (or what you plan to pay for it)
* GRM = Asking Price / Annual Rent.
For example, if your monthly rent is $1,000, and the asking price is $100,000 your GRM is:
$100,000 / $12,000 = 8.33.

If you have a property that is currently producing an income, you will want to read further!!

There are 4 key factors to evaluate and determine if the current property will generate an income at the new purchase price.

The 4 factors are
Reduce Expneses
Increase Income
Decrease Vacancy
Offer a Lower Purchase Price

Im fairly new at this so please be patient the question i want to clearify is, i want to acculminate as much rental properties for long term investments and im confuced on how the whole taking money out and buying another the confusion is is there a limit on how many times you could do so meaning buying one to buy two more please share your personal experience so i could understand much better thanks in advance...

Greetings! Any one with input on an office lease. I want to "head " a building,the question is, in Illinois you need a RE lic. if you are going to Manage a rental. My question: can I rent out space in the building that I am using, with the landlords permission of course. If i get space or a discount for my effort does that break any rules??

Hello,

I am looking into getting about 3 Rentals within the next few months and have Renters for about a year or so to keep extra stable Income coming in. I would like advice on this topic, and any items to make this a easy process.

Thank You,

RealEstateMD

Has anyone used one of the automatic rent collection systems where it automatic draws from your tenants bank account every month?

The lease option / lease purchase has been outlawed in Texas as per the Texas Property Code law. It is being reviewed at the federal level as well because of the mortgage mess. I am giving this information out because after working hard for several months and getting everything just right and going out and doing a few deals, I find this out. Thank goodness I was able to go back to the seller's and buyer's and get them to do a straight lease. Since I am a real estate agent, I will still get paid on these leases, but boy was I surprized and let down and after spending so much money and time getting set to have an incredible cash flow business with lease options.