297: Guaranteed Rent Income with Section 8 Housing
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 15 June 2020
⏱️ 42 minutes
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Summary
Pros and cons of getting paid a permanent government housing subsidy are explored.
But first, I discuss your future in light of the current pandemic crisis - housing supply, 2020 vs. 2008 recession differences, economic "vaccine", current 13.3% unemployment rate.
"Section 8" is the primary federal government program that subsidizes three groups: low income, elderly, and disabled. It is HUD-sponsored.
Cons: Tenant screening is vital, inspections.
Pros: Longer tenancies, higher rent amount, lower vacancy rate, tenant wants to keep voucher.
Learn more about owning renovated Section 8 housing with a manager that deal with the housing authority at: www.GetRichEducation.com/Richmond
The housing authority typically pays most, not all, of the tenants' rent.
CNBC named Virginia of the #1 business state. Richmond is the capital of the 12th-most populous state.
In Richmond, $1,300 rent and $145,000 purchase price (0.9% RV) is typical for SFRs suited to Section 8.
Connect with the provider for "guaranteed rent" property at: GetRichEducation.com/Richmond
Resources mentioned:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Winehold. Guaranteed rent income has an awfully nice ring to it, especially after events of the last few months. |
| 0:10.7 | Is permanent subsidized housing with the Section 8 program the right fit for you? |
| 0:15.3 | We explore the pros and cons of what's frankly one of the more polarizing topics in the entire real estate market. |
| 0:22.0 | But first, we have developed a vaccine. It's an economic one today on Get Rich Education. |
| 0:31.0 | Fortunately for you, Congress has made it possible to get up to $200,000 out of your current 401k or TSP to invest in real estate or your own business, |
| 0:40.5 | and that's even if you're still working. The thing is, you can get all this money tax-free. |
| 0:46.7 | The EQRP is your secret weapon. With the CARES Act expiring soon, the EQRP company helps you |
| 0:52.6 | unleash your retirement funds now. Learn more and text message |
| 0:55.8 | QRP in all-capital letters to 72,000. You're listening to the show that has created more |
| 1:05.8 | financial freedom than nearly any show in the world. This is Get Rich Education. |
| 1:25.9 | Welcome to GRE from Milford, Delaware to Medford, Oregon and across 188 nations worldwide. |
| 1:31.9 | I'm Keith Weinhold. |
| 1:33.2 | This is GetRous Education. |
| 1:34.5 | Yeah, you are back in that abundant place where you are always doing the right thing before you do things right. |
| 1:42.2 | You need to understand something. |
| 1:43.5 | Due to taxes and inflation and other |
| 1:46.5 | reasons that we discuss here, savers lose wealth. Stock investors maintain wealth, real estate investors |
| 1:55.8 | build wealth. Though generally, that's a strong belief that I have. Understand this. That is true when a |
| 2:03.3 | person has somewhat of a financial education, it doesn't take an extensive one. But if a person has |
| 2:09.6 | zero financial education, then you know what? I'd actually say that you're more likely to lose |
| 2:14.8 | some money in real estate than you are stocks. If you're just throwing darts at a board, I think you're more likely to lose some money in real estate than you are stocks. If you're just |
| 2:17.9 | throwing darts at a board, I think you're more likely to lose less with stocks. But don't just |
... |
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