[PinotGuy]

Originally Posted by repru

Section 8 has income restrictions. For a family of 4 - $32,550. The Housing authority will pay a maximum of $1400 per month for a 3 bedroom.

They will not be taking over west Summerlin at those numbers.

Not sure of LV area, but in Pelosi Town Section 8 easily goes to $2800 per month for 3 bedrooms, at least as of 3-4 years ago. A friend is in real estate, when he told me I also was more than skeptical. IN his case he was actually looking for Section 8 customers, guaranteed check every month.

If NV only goes to $1400, why do I see houses above that, and WELL above that, advertise they take Section 8?

Not arguing, simply stating what I see in LV real estate ads right now. I was shocked, trust me, and hope that landlords simply have no idea what the max limit is. We're looking above that $1400 price range and I still see listings for Section 8.

[repru]

Originally Posted by PinotGuy

Not sure of LV area, but in Pelosi Town Section 8 easily goes to $2800 per month for 3 bedrooms, at least as of 3-4 years ago. A friend is in real estate, when he told me I also was more than skeptical. IN his case he was actually looking for Section 8 customers, guaranteed check every month.

If NV only goes to $1400, why do I see houses above that, and WELL above that, advertise they take Section 8?

Not arguing, simply stating what I see in LV real estate ads right now. I was shocked, trust me, and hope that landlords simply have no idea what the max limit is. We're looking above that $1400 price range and I still see listings for Section 8.

Some silly agent clicked the button on the input form. Likely does not know what section 8 is.

At the moment in 89134 there are 3. All at 1400 and below. I believe it maybe possible to get a few dollars above 1400 but not much.

[kcoliver]

Speaking from a landlord's point of view...I pay quite a bit of money to get that rent each month. I am NOT pocketing huge amounts of money for doing nothing. I pay trash ($40. per quarter which is $160 a year) I pay sewer, $240 a year, taxes, and insurance plus a management fee. If I'm lucky, I don't have to do repairs, and when the tenant moves out, that the place isn't a disaster needing new carpet, paint etc. I also pay to have someone get me a renter...a fee charged by most realtors. Of course I can only HOPE the place will rent quickly, since these bills keep going with or without a renter. So, next time you see someone with a possible $650 mortgage renting it out for $1,000...due the math.

[SelflessGene]

Since I will be retiring soon on a very meager SS income I've been scouring the web for the most affordable apartment rentals in the country (mostly using Craigslist). I had assumed that the rustbelt cities of the Midwest (Pittsburgh, Cleveland, Cincinnati, Detroit, etc.) that have lost the most population would have the most vacancies and the lowest prices. I'm having a hard time finding a studio apartment for less than $600/mo. in that entire region.

Then I started working with a list of the cities with the highest vacancy rates regardless of population change. As expected, this includes cities like Detroit which have a high vacancy rate (15.6%) due to population loss but it also includes cities like Orlando (23.6%) where overbuilding is the underlying cause. Las Vegas cought my eye because it has a relatively high 13.5% vacancy rate and I started going through the listings. I'm seeing many nice-looking studio apartments for under $400/mo.

I spend most of my days in the virtual world of Google Map streetview cruising up and down the streets of cities all over the country and in Vegas I'm seeing "for rent" signs all over the place. Also I'm noticing that these places are offering all kinds of incentives like no-credit-check, no-security-deposit, first-month-free-rent, etc. which makes me think the owners are rather desperate to rent. Compared to the slums I've been viewing in the North, these places look like palaces.

If anybody knows of a city in the U.S. with comparable housing at these bargain-basement prices I'd like to know about it. I think I've found my retirement destination at last.

[eventusstultorummagister]

Originally Posted by SelflessGene

I'm seeing many nice-looking studio apartments for under $400/mo.

Trust me, you won't be happy in a $400/mo. studio.

If you're healthy why not give Thailand a go? Or Costa Rica??

[SelflessGene]

Originally Posted by eventusstultorummagister

Trust me, you won't be happy in a $400/mo. studio.

If you're healthy why not give Thailand a go? Or Costa Rica??

1. Trust me, happiness is not being homeless.

2. I've scoured the world and the only country where I would qualify for a permanent retirement visa is Nicaragua. Got nothing against Daniel Ortega, mind you, it's just that unless I miraculously aquire the ability to speak fluent Spanish I'd be one more dumb gringo ripe for the picking's. I'm resigned to living the rest of my life in the land of the depraved and the home of the fleeced and trying to make the best of it.

[MoorestownResident]

Originally Posted by Traveler500

The rent prices seem to be as high as Staten Island, NY rent prices, but the difference is a home in Staten Island costs 5-10x a las vegas home, and staten island is part of NYC.

It gets me really mad to see people asking ridiculously high rent prices for a home that is worth 30-50K. 1000K to 1500K a week for a home worth that much, anything wrong here?

What is going on here? Are people still stuck in the boom level times and wanting as high rent? Are they actually getting it?

And if these people are actually renting these places for so high a price, vs what you can buy a new home for, then why are you all not in the real estate rental business.

I'm looking for a studio or something small, and it is nice if it is furnished. What surprises me is people will ask 700 dollars or more for these units. But when you actually go see them they are in North Vegas, and they look like they used to be like an old motel or something, or something out of the 3rd world. Takes me minutes to see the people entering these places to know its not a place you want to live. I would think that these places must cost practically close to nothing, but they are asking 700 in rent. Some are furnished, but that should mean nothing. I mean, you can buy all the stuff to furnish these places on craigslist for like 200 bucks.

Seems like you can make tons of cash buying places like that for dirt cheap and renting them out to people.

What surprises me is that there are very few options for these furnished kind of places in Las Vegas.

LMAO, well I have a brand new 3 bedroom/2.5 bath/2 car garage house in Henderson for rent for 1050. I don't know about Staten Island but around me in NJ 1050 might get you an older 2 bedroom apartment.

[SportyandMisty]

While there are many downsides to being a landlord, there is an upside.

You can give yourself a raise just by writing a letter to your tenant.

[repru]

For Rent - 3BR, 2Bath - Tottenville, Staten Island, NY - $1750+

House for Rent at Holland Avenue, Staten Island, NY 10304: 3 bedrooms, $1850

3 Bedroom 2 Bath with Cathedral Ceiling! 3 bedrooms, $1800 ...

For Rent – 3BR, 2Bath, Tottenville-Staten Island – $1,750+

$1950 / 3br - Semi-attached House for rent, 3Bd, 2 bath - (Dongan Hills) pic

$1800 / 3br - 3 BEDROOM ,Huge, Beautiful Apartment

Must be a different Staten Island...

[Magnoliablossom]

What is the source for information on Section 8 rentals in a given area? For ex. if there are a bunch of section 8 units in a given zip code (or development), how does one find out that info? Is it also possible to find such info for a specific address? Thanks. (As I've mentioned before, I'm considering buying in Desert Shores or the Hills/Pueblo sections of Summerlin. I know of one condo complex in DS that has a lot of Section 8, but I only know that through word of mouth. Would love to be able to do a search for more specific and conclusive info.) It sounds like Section 8 is more widespread than I would have thought, if it applies as high as $1400/mo. for families below a certain income level. I'm not entirely sure Section 8 is "bad"--I would think that a majority of these are simply struggling families contending with a difficult economy--but I know it often has negative connotations for a neighborhood.