72: Managing Hundreds of Tenants and Getting Uncle Sam to Pay the Rent with Mark Ainley

Today on the BiggerPockets Podcast we jump straight into the nitty-gritty with a real estate broker, investor and property manager from the greater Chicago area. Mark Ainley brings a fresh perspective on how to successfully invest in lower-income rentals and goes deep into the details of everything you’d need to know, covering acquisition to rehab to management, straight out of of his experience investing in the notorious South Side Chicago area. Today’s show also gives great insight on the in’s and out’s of Section 8 housing, the program that has the government paying a portion (even up to 100%) of the rental income for the tenant. Mark also covers a lot of the managerial secrets behind being a successful property management company and gives you specific criteria on how to vet property managers. This show is really meaty so be sure to grab a pen and paper for notes… and with that, let’s jump into it! In This Show, We Cover:How to build a real estate company from your mom’s basement.“Cash-for-keys” – an alternative to evictionWarning: How to lose money by betting on appreciationHow to handle late Section 8 tenants when they only owe $15How Brandon got a broke tweaker out of his propertyAdvice for newbies who are thinking about getting started in lower income areasHow to find flexible non-profit portfolio lendersThe full-gambit of investing in Section 8 housingMajor red flags  to look for in tenant screeningHow to do deals via text messageand much, much more!Links MentionedHouse HackingSocialServe.comBooks Mentioned in the ShowArt of The Deal by Donald TrumpThe Millionaire Real Estate Agent by Gary KellerThe E-Myth by Michael E. GerberTrump: The Way to the Top: The Best Business Advice I Ever Received by Donald J. TrumpTweetable Topics “To do a flip successfully it takes being at the property every single day!” (Tweet This!) Connect with MarkMark’s BiggerPockets ProfileMark’s Website: www.gcrealtyinc.com