Thanks to his knowledge of the Section 8 program, Karim Naoum, better known as Section 8 Karim, is creating quite a stir in the rental property market. Karim started his profession in his early twenties and has worked to change the perception of Section 8 tenants while also achieving his own financial freedom.
Karim gained an understanding of the workings of Section 8 through his time as a government employee working with the program. He started buying Section 8 rental homes at an early age by using this expertise. His plan was to leverage the funds of others to diversify his holdings and build a profitable empire from what began as a small investment. At twenty-one, Karim owned more than a hundred homes and also boasted the title of the youngest Section 8 landlord in Louisiana.
Recession Proof Blueprint, Karim's business, had difficulties along the way. Karim had to manage properties out of state, and one of the biggest challenges he encountered was developing a scalable system. Notwithstanding these obstacles, Karim's creative thinking and tenacity resulted in the creation of an efficient procedure for growing his assets.
Karim stands out from others in the field thanks to his intimate understanding of the Section 8 program, which he acquired while employed by the government. Karim has a major edge over other investors and instructors because of his direct experience with Section 8. He is skilled at processing the required paperwork, passing inspections, and negotiating rent. In addition, Karim has introduced a brand-new method of real estate investing to many: buying homes entirely out of state while maintaining anonymity. This strategy lowers personal risk while simultaneously increasing his investing options.
Karim's method dispels a number of myths around Section 8 housing. Negative perceptions and anxieties about Section 8 renters put off many prospective landlords. Karim, however, highlights the program's advantages, particularly the steadiness it provides. Since Section 8 tenants stay in their houses for an average of 7.5 years, these renters offer a consistent and dependable source of revenue.
In addition, the government usually pays rent at rates that are between 10 and 30 percent more than the going rate, providing a safety net against recessions. Because the government can be counted on to pay, rental revenue is guaranteed, even during catastrophic events like a pandemic.
Moreover, Karim's investing approach is consistent. His specialty is under $100,000 single-family homes in states that are favorable to landlords. He reduces his personal financial risk by employing Debt Service Coverage Ratio (DSCR) loans, which use the rental revenue from the property as collateral. His typical down payment for a property is between $8,000 and $12,000, so there isn't much of a barrier to entrance for new investors.
Over the next one to two years, Karim wants to acquire over $100 million in rental properties and hopes to start a Section 8 investment firm. His future plans demonstrate his dedication to increasing his influence in the Section 8 leasing industry.
In addition to becoming an influencer, Karim is committed to informing people about the benefits of the Section 8 program. Karim has coached more than 1,000 and helped them achieve a 92% success rate. He is dedicated to debunking misconceptions and showcasing the real potential of Section 8 investments.
Karim Naoum's creative strategy and commitment to the Section 8 program provide a model for anyone hoping to succeed in the rental property market. His narrative serves as an example of how fusing industry expertise with strategic planning could result in financial success.
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