I have uploaded a January 11th Educational Update. Click here to go to the show archives page to listen or you can listen on the link below.
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Keep in mind that social proof is a very powerful force. It keeps the debt-slaves in their place and is a self-imposed internment camp of the mind. The Opioid crisis and degradation of the wage-base are pounded over our heads to promote hopelessness and despair. We can overcome.
–Meet a person who works three jobs and cannot stay ahead; A perspective of life in Wilkes-Barrie, PA. But this can pertain to any rural or economically depressed area in the United States. It could pertain to Dayton, OH, or Huntington WV (two cities I have traveled to, my mother lived in Dayton as a child).
-In Wilkes-Barrie there are over 90 houses that sell below $50,000. Many of these homes can be bought with seller financing or with federally-subsidized loans, with little money out of pocket.
-Chris, the person in the interview, could borrow $20-30,000 from his or his wife’s parents to buy his first couple houses.
-He can learn how to work with the Section-8 housing voucher program, which assists with the rent payments of lower-income tenants. He can provide a valuable service to his community while making superior cash flow.
-In many working-class and lower-income areas, Section-8 housing vouchers will provide higher rents than non-subsidized rents.
-I have participated in the Section-8 voucher program in the past and observed that my subsidized tenants were often superior in many regards to my non-voucher tenants. They appreciated my efforts to provide them a great place to live. All it takes sometimes are stainless-steel appliances.
-If these voucher holders do not take care of the premises, abide by any of the terms of lease, or do not pay their stipend portion, they can lose their vouchers. You can be their last hope. Develop a good relationship with the county voucher case workers and you will be sought out by everyone, even other sellers.
-There is a lot of hope and we can move forward.
-Chris could easily acquire 8-10 homes over several years. He can eventually quit a couple of his jobs and have enough money for retirement. He could take vacations with his family and live a longer life.