Polite-Wool walks through a three-bedroom Section 8 rental in Knoxville he just bought. He checks three things: the unit's condition, whether tenants pay on time using the rent ledger, and if they respect the property. Strong cash flow means nothing if tenants trash the place and leave you with expensive repairs.
So we are about to pull up to one of the new acquisitions. This is a three bed, two bath in Knoxville. It is a Section 8 rental property. And I just wanted to kind of take you guys through my mindset before I go here. I want to make sure that it's in proper condition. I want to make sure that the tenants treat the property with respect, because I will be inheriting these tenants. So when inheriting these tenants, you want to make sure that they, for one, pay on time. So you need to get the rent ledger. You also want to make sure that they treat the property nice. If they don't treat the property nice, you're going to be inheriting a lot of damaged repairs you do not want to inherit. So even if cash flow looks good, it could be bad based specifically on the fact that they're going to tear it up and cause a lot more maintenance.
90 DAYS TO MAKE $100K WHOLESALING REAL ESTATE FROM ZERO — OR I QUIT (Portrait)
90 DAYS TO MAKE $100K WHOLESALING REAL ESTATE FROM ZERO — OR I QUIT (Portrait)
90 DAYS TO MAKE $100K WHOLESALING REAL ESTATE FROM ZERO — OR I QUIT (Portrait)
90 DAYS TO MAKE $100K WHOLESALING REAL ESTATE FROM ZERO — OR I QUIT (Portrait)
90 DAYS TO MAKE $100K WHOLESALING REAL ESTATE FROM ZERO — OR I QUIT (Portrait)
90 DAYS TO MAKE $100K WHOLESALING REAL ESTATE FROM ZERO — OR I QUIT (Portrait)
