79: Low Income Landlording and Investing to Make a Difference with Michele and Bruce Fischer

<p>Today on the&nbsp;<a href="https://www.biggerpockets.com/podcast" target="_blank">BiggerPockets Podcast</a>&nbsp;we are excited to sit down with a couple who together, intentionally invest where most landlords fear to tread . . . low income housing.</p><p>Michele and Bruce Fischer&nbsp;who hail from Longview, Washington, decided to make a difference by landlording in areas that are so low-income, that even Section-8 doesn’t work in their neighborhood. In our conversation we dive into some really important topics regarding how to screen low-income tenants, how to handle (pets like pitt-bulls), what to do when your tenant is late on the rent, working with your spouse, what to do when the reality is your tenant will become homeless if you evict them, how to “tenant-proof” in low-income areas and a lot more! You don’t want to miss this one!</p><p>In This Show We Cover…</p><ul><li>Why would you invest in low-income areas&nbsp;in the first place?</li><li>What&nbsp;to look for when&nbsp;purchasing&nbsp;a low-income property</li><li>How&nbsp;playing&nbsp;“Monopoly”&nbsp;with no money&nbsp;makes you a better real estate investor</li><li>Handling&nbsp;late payments</li><li>The&nbsp;“prostitute tenant”&nbsp;story (Yes, really…)</li><li>How to practically&nbsp;invest with your spouse</li><li>Renting to low income tenants with low income pets (including those with dangerous animals.)</li><li>Michele and Bruce’s&nbsp;#1 source of leads</li><li>How to&nbsp;“tenant-proof”&nbsp;low-income rentals</li><li>How to utilize a&nbsp;line of credit&nbsp;for investing in real estate</li><li>Cash flow&nbsp;vs.&nbsp;appreciation</li><li>Using&nbsp;Facebook&nbsp;to vet potential tenants</li><li>And a&nbsp;TON&nbsp;more!</li></ul><p>Books Mentioned in the Show:</p><ul><li><a href="http://amzn.to/2a967f3" target="_blank">See Poverty, be the Difference&nbsp;</a>by&nbsp;Donna M. Beegle</li><li><a href="http://amzn.to/2aOSwLj" target="_blank">Money or Your Life</a>&nbsp;by&nbsp;Vicki Robin and&nbsp;Joe Dominguez</li></ul><p>Tweetable