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Sunday, May 15, 2011

Video about Calculating Fair Market Rent 
FMR using a HUD Section 8 tool

While giving real estate investing presentations, especially about Section 8 and to new land lords, a common question from newbies is "How much can I charge for rent?"

WOW, that is a good question!

Remember, there are several things to consider while trying to answer this famous question:
  • How many bedrooms?
  • Demographics of the neighborhood?
  • Have I checked the local newspapers?
  • Did I call "FOR Rent" signs and see what other Land Lords are asking?
  • What is the Multiple Listing Service MLS saying about rental prices in that zip code?
  • Other Investors, what are they charging?
  • Does your property have issues?
  • Etc.

My point is that it would take a lot of time to do a good rental survey or Fair Market Rent FMR of your market before you can come up with a price.

But those days are over......

When I started using Section Eight I noticed that the case workers focused on:
  1. Participant's current income
  2. Inspection results of the land lord's property
  3. What is Section Eight or Plan Ocho currently paying other land lords in the area.

They would always come up with a figure magically. I always wondered how they calculated the results to come up with the fair market rent FMR number. Fair meaning making it a win-win for the Housing Authority, the Land Lord and the Participant.

NOW...

Here is a tool where the Fair Market Rent FMR ceilings are calculated for you by HUD, from efficiencies, one bedroom and up to four bedrooms. Check out the video....




Written by +Bob Burns.

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Bob Burns Print Signature for MREIA
MREIA's President
about.me/RobertKBurns
Telephone #: 305-300-6242
email: rkburns@investmentpropertiesmiamiflorida.com
MREIA's Web Page: www.miamireia.com
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Tuesday, May 3, 2011

Contact info. for MREIA & Real Estate Investment Commentary REIC Blog

I am writing this blog post because I feel
 it is important to disclose to our audience a way of contacting the authors of Real Estate Investment Commentary REIC postings. I will be the posting author most of the time but there may be instantences where I may have a guest blogger or a link to an article done by someone else.

Please feel free to contact me about any of the items listed below:
  • Have a question or additional information about a current REIC posting.
  • Need help or advice about investing in Real Estate.
  • Would like to interview me via a podcast, webinar, video or text.
  • Have me be a guest speaker at one of your special events.
  • Be a presentor / guest speaker at MREIA.
  • Find out the next MREIA meeting is.
  • JV, partnering, affiliate marketing opportunities
  • Whatever you feel is important enough to discuss.....

Written by +Bob Burns.
See below, for our contact data....
####



Top Blogs

The Internet Kahuna Bob Burns MREIA LogoHere is our contact Data.....
Bob Burns Print Signature for MREIA
MREIA's President
about.me/RobertKBurns
Telephone #: 305-586-5280
Skype: bob.kirk.burns
email: sec8@planocho.com
MREIA's Web Page: www.miamireia.com
Hypersmash