2007 was a funny year for me and my real estate business. Some of the good things that happened were;
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I expanded my social network with real estate agents and investors all over the country. From Indiana to Florida to California and to Texas.
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I elected Jeff Brown my official mentor. (He didn’t run for office. It was a write-in situation.)
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My sales, even in this melt-down year, were up 7.3% for the year.
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Despite decreased values all across the country, my portfolio grew (if ever so slightly) this year.
But alas, 2007 brought some major negative changes as well. I’m looking around and beginning to miss some lenders I used to work with. They are boarded up. Real estate agents I know and like and respect are working “part-time” to make ends meet. Investors I know and liked (but didn’t advise, mind you) are losing some of their properties because they bought more on speculation than fundamentals.
Pruning the tree is necessary to the health of our economy. But it’s painful to watch and partake in. I read today that unemployment is up everywhere. Just more fuel to the fire.
But here’s the deal, are you going to partake? Are you going to throw your hands up and scream “uncle” or are you going to dig down deep and do what it takes to succeed. And I don’t care if you are a real estate investor, a telecommunications engineer or a street vendor. Do your part to keep this economy going. Work. Produce. You’ve got people counting on you. 
And don’t forget that if you haven’t been impacted then you can make a difference to someone who has. Encourage. Participate. Give of yourself.
So here I was just talking along about a property thinking everyone on Earth knew what Section 8 was. So a prospective buyer stops me and says “What exactly is Section 8? How does it work?”
A housing voucher is simply the amount of money any given housing authority will pay towards a tenant’s rental fees. For instance, the housing authority could say that this single mother of two is entitled to a three bedroom house up to $725/mo. The HA can, based on her income and expenses, choose to pay any or all of that amount. The voucher could be for all $725. In that case your entire check comes from them. If the voucher is for $615 then you’ll need to be reasonably assured that the tenant can pay the other $110 each and every month.
Personally, I’ve taken housing vouchers in the past and would do so again. Just because you are taking a voucher doesn’t, or shouldn’t, keep you from doing background checks, credit checks, sexual predator checks, etc. You still need to make sure that prospective tenant is someone you want in your house. Based on Equal Housing Opportunity laws, of course.
Effective today, January 1, 2008, it is MANDATORY that all owners of rental property within Kansas City, Missouri limits register their income homes. Registration runs through January 2008 without penalty. Penalty for non-registration on and after February 1, 2008, will be $50 per unit. 
BBQ Capital | Kansas City Real Estate Investing 