Getting Rich Off of "Hand Outs"

[buckit]

I just got off the phone with a real estate buddy of mine and he brought up an interesting point.  He's now buying rental properties in less than desireable neighborhoods, using Section 8 and rental vouchers (east coast) to make mega cash flow on properties.  He's buying foreclosed properties and using them as rentals.  Section 8 guarantees 70% of the rent via direct deposit.  Apparantly, this is the new real estate investment boom.


And some people here would have you believe that "handouts" are bad for the economy. 

[Biggs3535]

Yeah, Section 8 is a great thing...

[bradentonian]

Yeah, Section 8 is a great thing...

[Snake Pliskin]

lol brad

[Biggs3535]

I don't get it.  Not a MASH fan.

[bradentonian]

I don't get it. Not a MASH fan.

"Section 8" meant you were mentally unstable and was a free ticket out of Korea.  Klinger always dressed like a woman to try to convince everyone he was nuts to get a free ride home.

[Biggs3535]

Ahhh, thanks.

[SnookAU]

I just got off the phone with a real estate buddy of mine and he brought up an interesting point.  He's now buying rental properties in less than desireable neighborhoods, using Section 8 and rental vouchers (east coast) to make mega cash flow on properties.  He's buying foreclosed properties and using them as rentals.  Section 8 guarantees 70% of the rent via direct deposit.  Apparantly, this is the new real estate investment boom.


And some people here would have you believe that "handouts" are bad for the economy. 

Section 8 is nothing new.  It works for me.  And the ones I have are 100% guaranteed, not 70%.  People complain about government handouts -- well, they're not going anywhere so you might as well make them work for you.  And real estate provides a great tax shelter.

I'm buying as many rental properties as I can right now.  Houses are so cheap but rents are still decent.  You don't even have to be in bad neighborhoods to find good deals that will cash flow and eventually appreciate.

[bradentonian]

I just got off the phone with a real estate buddy of mine and he brought up an interesting point. He's now buying rental properties in less than desireable neighborhoods, using Section 8 and rental vouchers (east coast) to make mega cash flow on properties. He's buying foreclosed properties and using them as rentals. Section 8 guarantees 70% of the rent via direct deposit. Apparantly, this is the new real estate investment boom.


And some people here would have you believe that "handouts" are bad for the economy.

Section 8 is nothing new. It works for me. And the ones I have are 100% guaranteed, not 70%. People complain about government handouts -- well, they're not going anywhere so you might as well make them work for you. And real estate provides a great tax shelter.

I'm buying as many rental properties as I can right now. Houses are so cheap but rents are still decent. You don't even have to be in bad neighborhoods to find good deals that will cash flow and eventually appreciate.

Lots of folks are taking this road right now with property values down, which is starting to inflate housing numbers.

[TbayBucs]

Welcome to the New America.

[Ironphist]

i think these "speculators" should have to pay a "windfall profits tax" since they are making money on the backs of working americans that need a place to live!

hahahahahaha - the double standard is hysterica!

[buckit]

i think these "speculators" should have to pay a "windfall profits tax" since they are making money on the backs of working americans that need a place to live!

hahahahahaha - the double standard is hysterica!

They will.  It's called Capital Gains.  Thanks for playing.

[Ironphist]

spread the wealth!

[buckit]

spread the wealth!

Now you're gettin it!