This video is part 1 of a 2 part series. In part 2, I will go into more detail about the deal, and how someone should go about investing out of state. It will be much more information and explaining. This video was meant to be a vlog style video, showing you the first time I saw the property, and explaining my thoughts in real time as I visited the property for the first time. Look out for part 2 shortly and thanks for watching.
I Appreciate This Video Bro, As I Have 2 SF Here In NJ (Currently Looking For A 3rd) & Keep Tossing Up The Idea Of Buying Something Out Of State Because The Prices Or Better.
Hi, Wonderful video. I love the hustle you have going on. Looks like you got yourself a nice rental there. A couple of call outs, mismatched appliances drives me bonkers. Also the tile being cut around the toilet is something else. LOL They should LIFT the toilet, install tile, then put the toilet back. Also the brass door handles. Switching that to brushed nickle would be perfect. I agree, keep the carpet for now. By the way, the housing authority will only rent as a 5 bedroom if you get a permitted conversion of that bedroom. IE: means tax records need to indicate 5 bedrooms, which means you will pay more in taxes, so weigh out the cost benefit. Love this video, keep them coming!!
This is really inspiring because I thought about going to Vegas, Phoenix or Houston to buy another investment property I know in housten they have some good deals. Hopefully everything works out for God bless you 👍🏾🙌🏾
Just came across your channel, very informative. I was always against investing in sect 8 and property managers, as a potential out of state invester but you're convincing me. Where there's will, there's a way.
Congrats on the new property! I would definitely capitalize as much as possible. Hey Why not 🤷🏽♀️. I love the idea of converting the garage into an extra bed room & I think you should get a new fridge and maybe even a stove because it may not last to much longer lol. But it’s for sure a nice looking rental. Great pick & great video as usual Tim🔥
Man this video so educational I hope ppl learn something from it. I’m trying to move that way find something live in build renovation flips n rent it out investing into another property. So my son got something to set back on if anything ever happen to me
Heads up Tim. The comps in the area will determine the rent of your unit. just had meeting with the Houston housing authority . Therefore take the standard payment with a grain of salt
Hi Tim, thanks for the great information. I interested in invest in section 9 but don’t know how to go about it, don’t know if you can be of help. Thanks looking forward to hear from you.
For this particular house, I used a hard money lender. Depending on the zip code, profit margins are pretty high in Houston. I put down 25%, and making some renovations now (which Im spending more than I wanted to…smh)
@@TimLeakOfficial I hear mfr. Homes don't last long. Do you appraise or inspect before you purchase? Would you ever buy a renovated, 25 yr old mobile home for a 125k?
@@Ricocase manufactured homes can last just as long as a site built home. Me buying one for 125k would depend on if the land is included in the sale and how much I could rent it for.
You did well! I've been looking in Houston as well. Everything is 200k or above. I thought only certain areas were best for section 8. I've been looking in Copperfield and Cypress area. What areas do you recommend to look for houses on the low-end scale?
You’re right, a lot of houses are plus $200k. But every now and then, a good deal will pop up in the $150k-$200k range. The Houston Housing Authority rank their zip codes by tiers. Look for properties in tier A and tier B because those payments are really high. Good Luck.
Man I live in Houston to be honest with you if you buy the material for the garage that you want to turn into a bedroom,go to Home Depot and pick up you some Hispanics looking to work you can pay them a couple $100 and they will fix anything you want and need
You’re absolutely right. I’ve been in Houston for a week straight and have been back and forth to Home Depot over a dozen times. There are a lot of Hispanics waiting to help. I got one of their numbers just in case 😉
The ones that be out there with no truck those are the ones that don’t have tools so you would have to get tools,but it’s good quality work even the white contractors pick them up for commercial work.
@@TimLeakOfficial You don't want to waste money when the work is not done correctly. If they can't pull a permit or know a contractor who will allow them to work under his license don't use them. You shouldn't pull the permit yourself otherwise you will be totally responsible for things that go wrong. The fact that you are converting the garage to a bedroom requires a permit. Don't do it illegally because it will cost you in the long run.
Congratulations on your new property. As you are out of state are you gonna use a management company for this property? If so how are you gonna choose ?
@@TimLeakOfficial Im thinking about investing out of state myself also usin Section 8...please let us know the process from A TO Z... numbers , loan etc as I am also looking to do the same thing
So far I’ve been estimating about $200 for utilities off the published FMR and that’s been semi close. How do you figure how much to deduct from what the housing authority pays for utilities?
It’s hard to come up with an exact number. Some housing authorities will publish a utility allowance form, which will tell you how much they deduct depending on the house’s utilities. But is usually just assume they will take $200-$400, depending on the size of the house and size of the family.
tim. i am in ssi income. i want move to tx and i have section 8 for one bed for myself. can i able buy my house ? please help me idea. how i can able to buy my own house. ? thanks.
This video is part 1 of a 2 part series. In part 2, I will go into more detail about the deal, and how someone should go about investing out of state. It will be much more information and explaining. This video was meant to be a vlog style video, showing you the first time I saw the property, and explaining my thoughts in real time as I visited the property for the first time. Look out for part 2 shortly and thanks for watching.
I Appreciate This Video Bro, As I Have 2 SF Here In NJ (Currently Looking For A 3rd) & Keep Tossing Up The Idea Of Buying Something Out Of State Because The Prices Or Better.
Found the part 2 video and I'm starting on the first video here man.
Tim leak keep the videos coming . luve this one!
This is interesting because I’m in Houston so this is giving me experience as well . Appreciate the vid
Congratulations! That's a bold move.
Welcome to Houston my friend!
Shampooer 249 way cheaper than replacing flooring
Hi, Wonderful video. I love the hustle you have going on. Looks like you got yourself a nice rental there.
A couple of call outs, mismatched appliances drives me bonkers. Also the tile being cut around the toilet is something else. LOL They should LIFT the toilet, install tile, then put the toilet back. Also the brass door handles. Switching that to brushed nickle would be perfect. I agree, keep the carpet for now. By the way, the housing authority will only rent as a 5 bedroom if you get a permitted conversion of that bedroom. IE: means tax records need to indicate 5 bedrooms, which means you will pay more in taxes, so weigh out the cost benefit. Love this video, keep them coming!!
That’s good to know. Thanks Jay👍🏾
congrats on new house
Thank you
This was a successful purchase. Congratulations.!
Thanks. We’ll see how everything turns out. Hopefully the entire experience is successful 🤞🏾
I FUCKING LOVE WHEN MY NIGGAS OUT HERE GRINDIN!
Appreciate my dude💯
Shoot it's rent ready
It looks nice bro 👍🏿
This is really inspiring because I thought about going to Vegas, Phoenix or Houston to buy another investment property I know in housten they have some good deals. Hopefully everything works out for God bless you 👍🏾🙌🏾
Yes, it’s a lot of good deals in Houston. Thanks bro💯
Just came across your channel, very informative. I was always against investing in sect 8 and property managers, as a potential out of state invester but you're convincing me. Where there's will, there's a way.
Very nice sir. Thanks for sharing.
Congrats on the new property! I would definitely capitalize as much as possible. Hey Why not 🤷🏽♀️. I love the idea of converting the garage into an extra bed room & I think you should get a new fridge and maybe even a stove because it may not last to much longer lol. But it’s for sure a nice looking rental. Great pick & great video as usual Tim🔥
Thanks a lot❤️
Man this video so educational I hope ppl learn something from it. I’m trying to move that way find something live in build renovation flips n rent it out investing into another property. So my son got something to set back on if anything ever happen to me
Pretty dope thanks for the inspiration
I just closed with HHA, hopefully my decision is right. My house is Tier B so i get pay more than the regular rent
Get it ready..I know some clean tenants with voucher in hand
Congratulations on the new property! Where in Houston it's located at? My brother lives in Stafford!
Thank you. The property is about 10 miles east of Stafford.
Heads up Tim. The comps in the area will determine the rent of your unit. just had meeting with the Houston housing authority . Therefore take the standard payment with a grain of salt
Thanks. I considered that when running my numbers and didn’t base them off of getting the maximum. I definitely underestimated just to be sure.
In Houston Texas let's goooo
Hi Tim, thanks for the great information. I interested in invest in section 9 but don’t know how to go about it, don’t know if you can be of help. Thanks looking forward to hear from you.
Nice property....
Thanks
does Houston Housing Authority pay rent based on FMR? Thank you. Dallas does not.
Congratulations, how do you underwrite your deals? What's the margin for section 8 in Houston these days? Cash or finance? Keep winning!
For this particular house, I used a hard money lender. Depending on the zip code, profit margins are pretty high in Houston. I put down 25%, and making some renovations now (which Im spending more than I wanted to…smh)
@@TimLeakOfficial I hear mfr. Homes don't last long. Do you appraise or inspect before you purchase? Would you ever buy a renovated, 25 yr old mobile home for a 125k?
@@Ricocase manufactured homes can last just as long as a site built home. Me buying one for 125k would depend on if the land is included in the sale and how much I could rent it for.
You did well! I've been looking in Houston as well. Everything is 200k or above. I thought only certain areas were best for section 8. I've been looking in Copperfield and Cypress area. What areas do you recommend to look for houses on the low-end scale?
You’re right, a lot of houses are plus $200k. But every now and then, a good deal will pop up in the $150k-$200k range. The Houston Housing Authority rank their zip codes by tiers. Look for properties in tier A and tier B because those payments are really high. Good Luck.
@Tim Leak Thank you so much!
Me just finding your channel and watching the video from Houston, thinking on investing north where it snows 😂
How much are you paying for insurance?, premiums are crazy high here in Houston
Man I live in Houston to be honest with you if you buy the material for the garage that you want to turn into a bedroom,go to Home Depot and pick up you some Hispanics looking to work you can pay them a couple $100 and they will fix anything you want and need
You’re absolutely right. I’ve been in Houston for a week straight and have been back and forth to Home Depot over a dozen times. There are a lot of Hispanics waiting to help. I got one of their numbers just in case 😉
The ones that be out there with no truck those are the ones that don’t have tools so you would have to get tools,but it’s good quality work even the white contractors pick them up for commercial work.
@@TimLeakOfficial You don't want to waste money when the work is not done correctly. If they can't pull a permit or know a contractor who will allow them to work under his license don't use them. You shouldn't pull the permit yourself otherwise you will be totally responsible for things that go wrong. The fact that you are converting the garage to a bedroom requires a permit. Don't do it illegally because it will cost you in the long run.
Just finished the video, what zip is this in? I'm curious to know since I'm a Houston native
Congratulations on your new property. As you are out of state are you gonna use a management company for this property? If so how are you gonna choose ?
I’m going to cover all that info in part 2. Stay tuned…
Hi, I plan on moving to Houston are you renting Section 8? What town it in?
Did you close in your LLC or do you buy in your name?
LLC
Where in the Houston . 3100 for rent
What area of Houston is this ? Do they rent by zip code ?
It’s the Clark Springs neighborhood. Yes, they rent by the zip code but they’re separated into tiers.
What was the price of house & how much did you have to put down to close the deal
I’m going to discuss the numbers in part 2. Stay tuned…
@@TimLeakOfficial Im thinking about investing out of state myself also usin Section 8...please let us know the process from A TO Z... numbers , loan etc as I am also looking to do the same thing
No problem. I will cover everything in part 2.
I'm really looking forward to the Part 2 to learn the process. Please cover resent reasonableness as well
So far I’ve been estimating about $200 for utilities off the published FMR and that’s been semi close.
How do you figure how much to deduct from what the housing authority pays for utilities?
It’s hard to come up with an exact number. Some housing authorities will publish a utility allowance form, which will tell you how much they deduct depending on the house’s utilities. But is usually just assume they will take $200-$400, depending on the size of the house and size of the family.
@@TimLeakOfficial gotcha, thanks for the tip
SSI INCOME WITH SECTION 8 VOUCHER FOR ONE BED ROOM CAN BUY HOUSE ? SIR ? I AM IN MN....NEED HAVE HOUSE BADLY.
5 bedrooms voucher can pick fancy house up to 700k in DFW; no one want a old home without garage.
A $700,000 home won’t make an investor any money broski 😉. Besides, my tenant loves it.
To purchase my Rental Application and Lease Agreement, use the link below⬇️⬇️⬇️
section8academy.podia.com/rental-application-lease-agreement
Don't be ashamed of being a red blooded CAPITALIST, make that money. Did you pin down which county your property is actually in?
Yes, it’s in Harris County, but in the city of Houston. So it’s covered by both, the Harris County Housing Authority and Houston Housing Authority
@@TimLeakOfficial Cool.
tim. i am in ssi income. i want move to tx and i have section 8 for one bed for myself. can i able buy my house ? please help me idea. how i can able to buy my own house. ? thanks.