59 minutes | Mar 25, 2021

Episode 53: CHA Section 8 Roundtable - Part 1

Many fear what they don’t understand. That’s exactly why we put together this round table discussion with two other great CHA section 8 property managers. Listen in as we address the entire workflow from screening the applicants, to the move in, and everything that happens in between. Section 8 can be a great investment strategy, but it’s imperative you understand how it works...ESPECIALLY in a city like Chicago. If you learned something today, please leave us a review and share us with a friend. Enjoy the episode! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Jared Kott (Email: Jared.kott@marblestonepg.com) and Eric DeLeon (Email: Office@philtonllc.com) of Chicago Section 8 Sponsor: Appeal.tax and Showdigs   Link: HCV Inspections   Link: Mobility Counseling Program   Link: BiggerPockets: Real Estate Investing Community & Advice   Link: One Rental At A Time: The Journey to Financial Independence through Real Estate   Link: Chicago Section 8 Housing Resources ----------------- Guest Questions Jared, How do you respond to questions about accepting section 8 tenants? 9:00 Screening section 9:40 Eric, how do you screen section 8 tenants? 9:40 How do you account for utility costs with section 8? 11:20 Rent burden worksheet collection 14:40 How do extra costs like pets or garage get accounted for? 17:25 Paperwork question section 21:25 Best practices for submitting paperwork to the CHA? 22:30 Inspection section 30:45 Wrap Up Questions What are some best practices for inspection day? 31:30 What are some common fails on the initial inspection that can be avoided? 34:30 What are “emergency fails”? 44:00 What is rent abatement? 44:50 What is the typical timeline of a section 8 tenant? 49:00 What is the mobility program? 51:30 What is one piece of advice you’d tell someone who has never purchased sec 8? 53:44 What do you do for fun? 54:50 What is a good self development activity you’d recommend? 55:20 Who is one person you’d recommend? 56:20 That’s our show! Thanks so much for listening! If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/. ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2021.
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