Karim Naum: A Young Real Estate Mogul
At just 23, Karim Naum, known as Section 8 Karim, has amassed a significant real estate portfolio that even seasoned investors might envy. He has insights into the Section 8 housing program, generating over six figures monthly from his 200-plus rental properties across the U.S. His achievements have allowed him to own a 2018 Bugatti Chiron, making him one of the youngest individuals in America to have such a luxury car. For Karim, the drive for financial independence has empowered him to earn while providing housing for those in need.
From Public Service to Real Estate
Before his success in real estate, Karim gained valuable hands-on experience working within the Section 8 system. He realized, as he became more familiar with the rules, that he could leverage this knowledge for personal gain.
“Instead of just working, I applied what I knew and began purchasing Section 8 rental properties at a young age,” he remarked. “By focusing on landlord-friendly states, I was able to grow from a single rental to a real estate business—all remotely.”
By the time he reached 23, his businesses had flourished enough for him to reward himself with the Bugatti. “Sure, it’s flashy, but it symbolizes the system I’ve developed and the stability I receive thanks to government support,” he explained.
Challenges Encountered
Managing a multi-million dollar real estate business at such a young age posed challenges, particularly with properties located in states he didn’t reside in. He had to create a reliable system and team to handle purchasing, financing, and management from a distance. Utilizing data-driven tools played a crucial role in his success.
“People often ask about starting with their first rental property,” Karim shared. “I bought mine for less than $10,000 upfront and didn’t see it until after the deal was done. Many fear out-of-state investments, but by adhering to the right processes, I grew from one rental to over 150 in just a few years.”
During his journey, Karim has discovered several tools beneficial for investors. Resources like HUDUSER.gov for local Section 8 rates and SpotCrime.com for neighborhood crime statistics empower well-informed investment decisions. Other useful platforms include InvestorLift.com, Incfile.com, Thumbtack.com, and AffordableHousing.com.
Addressing Stereotypes in Section 8 Investing
There’s a misconception among many investors that tenants in the Section 8 program are more likely to damage properties, making them hesitant to invest. Karim contends that most Section 8 tenants have waited years for approval and are motivated to maintain their housing to avoid losing essential vouchers. By fostering good relationships with tenants, he asserts that Section 8 investors can efficiently navigate inspections, paperwork, and manage properties without significant worry about tenant behavior.
Sticking to a resilient investment strategy, Karim has not only built a real estate empire but has also embraced a lifestyle defined by his Bugatti. “We aimed to demonstrate that investing in Section 8 is not only secure but powerful enough to lead to your dream car,” he noted.
The Future for Karim
Looking ahead, Karim has big plans for his Section 8 investments. He’s focusing on creating the largest Section 8 investment firm in the U.S., with aims to manage over $100 million in rental properties directly. He also hopes to continue breaking down misconceptions about Section 8 investing, proving it’s feasible to construct a resilient portfolio backed by government-supported rentals.
While owning the Bugatti Chiron marks a significant achievement, Karim emphasizes that it’s only the start. “If a 23-year-old kid in Section 8 can accomplish this, anyone who follows a solid plan can build wealth,” he asserts.
