MultiFamily Rental Property: 10 Minute Phone Call Will Lead to $13,000 Net Worth Increase
Just before closing on the 4 unit, I called the Section 8 housing authority. Since it has been over a decade since last having a tenant who had a voucher, I wasn’t sure if/how I could increase the rent to bring it up to market. The biggest question I was wondering…would the tenant have to pay for the increase? or would their part of the payment stay the same? Would it adjust proportionally? In this video, I show you what happened and how it will lead to a nice net worth increase in about 6 months.
This video piggybacks on the video from the other day that explains the latest project as well looks at the numbers behind the scenes. You can check that video out here: multifamily rental property video – 4 unit.
Do you have Section 8 tenants already? What has been your experience? .
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