Nov 8, 2018
Section 8 properties and rental property investment are super hot topics in the real estate industry. Jason Will talks with two local real estate investment experts in the Mobile County market, Jared Irby (Irby Home Buyers) and Joey Brashears (Yellowhammer Homes) and they share their business journies and insights into this specific world of real estate investing. What is Section 8 rental investment? How can this investment be advantageous to owners and investors? Why is this government program model better than flipping? How do you get started? What to look for in an ideal Section 8 property? Sit back and hear how this type of investment works, how Jared and Joey maximize their opportunities, minimize their risks, and why you be looking into real estate.
> Always been looking for real estate opportunities, good investment properties and be able to act quickly.
> Negotiating a low initial price and cash flow are the most significant factors in success in Section 8 investment properties.
> Maintaining the property maintenance is a non-stop job and you need a process and plan to make sure that $50 issues don't become $10,000 problems.
> Bigger homes with lots of bedrooms are an ideal property for Section 8 investment opportunities.
> Have a sense of urgency in getting a tenant or replacing one, but make sure you get the best person for that property. - Jared Irby
> The biggest thing in real estate is the relationships, whether it's the relationships with the tenants, the investors, your realtors, the landlords, everybody.
Jared Irby - Irby Home Buyers
Joey Brashears - Yellowhammer Homes
You've got to stay nimble, stay dynamic, and there's opportunities in every market. - Jared Irby
You have to adapt your strategies to the market you're in. - Jared Irby
My story has to start with the Fortune Builder Program. It worked for me. I think if it's anything else, it's something that's going to be what you make it. - Joey Brashears
I'll tell you the coolest thing about real estate, if you're looking at it from kind of the financial nerd perspective and how you scale quickly, is that real estate has cash flow. It's a hard asset, and it's very easy to borrow against it. - Jared Irby
So you can buy a Section 8 property for 20 grand and then rent it for 600, 700, 800 bucks a month. - Jared Irby
The most important thing is that you make sure of the cash flows. - Joey Brashears
Flipping houses, you put in a lot of work, and you make money one time. - Jared Irby
What determines a rental for me is, anything that I look at under $100,000, I'm going to consider it for a rental. - Jared Irby
I want it to be an assistance program, which is what Section 8 is set up to be. It's not supposed to be a handout. - Jared Irby
For a landlord, Section 8 is a guaranteed rent from the government essentially, as long as you keep the house in the condition that's required to by the Section 8 Program, then you're basically guaranteed your cheque at the same time every month, deposited into your account. - Jared Irby
I haven't noticed any more issues with Section 8 tenants, it's the normal issues and probably less, just because the payment issues are off the table. - Jared Irby
So the longer Section 8 tenants stay in the house, the better your return. So all my Section 8 tenants. My average is like three, four years at their average. - Joey Brashears
You want to make sure you keep the pay, and the rent is front and Center for sure. That's the whole point that drives everything. - Joey Brashears
Section 8 a pretty rigid program. Once you go into it, it pretty much explains itself. The only thing you can do is just get better about your processes and the product. - Jared Irby
Agent 251 is an entertaining and informative real estate podcast that looks at our industry through the lens of our work, adventures, and culture at JWRE - Jason Will Real Estate in Mobile and Baldwin County, Alabama.
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