| Oct Rent Update, Collected 91.6% rent, 4 openings |
2009-10-31 15:45:47 |
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Oct Rent Update, Collected 91.6% rent, 4 openings.
I was able to rent out 7 units this month, 2 at market, 5 on HUD with Sec 8.
Indiana is appropriating portion of stimulus money for housing assistance, so we are pickup 5 new vouchers this month, 3 state funded, 2 federally funded. Thanks to Obama, finally seeing little bit of stimulus money channel down my way.
since we have a good relationship with local HUD office, they usually direct tenants to us, so I can have the first pick. As I was told, there are unlimited number of state funded vouchers available, but these vouchers must be contracted before Dec 1, or will be lost, and the rental unit must outside of any city limits. So far Hud said they had 140 interviews, only 42 applicants qualify, but so far 6 of them can find a qualify unit.
I will have 3 moving out in November, we back to 7 opens.
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| Thanks to Obama, finally seeing little bit of stimulus money |
2009-10-31 14:49:11 |
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Thanks to Obama, finally seeing little bit of stimulus money channel down my way.
Indiana is appropriating portion of stimulus money for housing assistance, so we are pickup 5 new vouchers this month, 3 state funded, 2 federally funded.
plus 2 units rent out on market rate, I am down to 4 opening today compare to 11 vacant at the end of September. |
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| even the dying city has some decent neighborhoods, |
2009-10-15 16:56:59 |
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even the dying city has some decent neighborhoods.
there are pros and cons investing in Midwest, the main problem in rusty belt is no high end jobs, and mid range jobs are slowly disappearing, so there is virtually no growth, that is why these big cities are dying.
but even these dying cities has good areas, I suggest you invest in some mix neighborhood such as blue collar working areas, if you only pay 10k to these condos, I am pretty sure is inner city black area where crime is the main concern, you don't want to carry a gun to collect the mere $400.
The biggest advantage in midwest is the relatively low house price vs. rent, you can easily achieve positive cash flow and and build you rental empire to a certain scale you can retire on.
I live and invest in Indiana, and I am happy to be here, I am just 4-5 hours from Ohio, luckily my area is more orthopedic related than automotive related. |
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| Sept Rent Update, collected 88.7%, 11 opening for the month. |
2009-10-03 14:14:32 |
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Sept Rent Update, collected 88.7%,
of my 94 units, 11 opening, 10 two bedrooms and 1 three bedroom, horrible month.
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