Dingbat retirement plan. Is this the answer? - Posted by Trent

Posted by Rich-CA on December 08, 2008 at 21:50:27:

I should point out that states like CA pick up the tab on the benefits like Sec 8 after the federal funds run out. That may change due to our huge deficit, but for now that’s the case.

Dingbat retirement plan. Is this the answer? - Posted by Trent

Posted by Trent on December 08, 2008 at 19:25:01:

Iam self-employed and plan to retire in several years.

I have been looking for some investments, stocks, bonds, gold, silver and now real estate for income and protection for future inflation. (I know currently we are in a deflation period, but I feel this may change in the next few years)

I ran across this retirement plan on another website and wanted to get a second opinion from the active investors on this website. Here is the website.


I have approximately $500K in cd’s. Over time I would like to cash out the cd"s and purchase several units per year if I feel this plan is viable.

Will this retirement plan work in today market, I see the author started this plan in 1983.

Should I wait another year or two as home prices are declining.

If the various Counties are having budget problems would section 8 be subject to reduced funding?

Is section 8 worth the trouble. Most of the post I read are negative about section 8, this retirement plan endorses section 8.

Would multi-units produce more income vs single family homes?

With age discrimination, can you advertise a home and only rent to someone at a targeted age?

Would this plan work in California due to the high cost of housing vs the rental income. If not in California what state or city outside of California would offer better investment opportunities for this type of retirement plan.


Re: Dingbat retirement plan. Is this the answer? - Posted by DJ-nyc

Posted by DJ-nyc on December 09, 2008 at 08:00:27:

I like Section 8 and with millions of people losing their jobs; Its a smart strategy. Section 8 comes with its problems sometimes but If your units are well-maintained and you SCREEN your tenants (I threaten them that If they messup they will LOSE their Section 8) (my style); section 8 like other government programs will guarantee most of your money. In my area the rents are so high that the tenants have to pay a part out of their pocket; so a credit report will show how they pay. I have found that most low income tenants have poor to marginal credit but their are some who have decent credit.

My opinion is now is a good time to buy. Please education yourself on this site first.


Re: Dingbat retirement plan. Is this the answer? - Posted by Sailor

Posted by Sailor on December 08, 2008 at 21:44:57:

You are asking too many questions for me to answer in one midnight post, but I have read the Dingbat Plan before, & to some extent, it is similar to some of my estate planning. I am long past retirement planning, but I plan to leave free & clear properties to benefit my heirs, & I target similar tenants, though I find single moms who’ve been on the job a long time are also reliable tenants because they are grateful to have a decent place to raise their children. I like having kids in my homes because my county doesn’t have much in the way of decent affordable housing where the landlord fixes problems.

Targeting a particular segment of the tenant pool is a valid strategy. Note that the dingbat plan does not rely on appreciation, but ca$g-flow, which is what someone in retirement needs.

Section 8 is an iffy thing & the caseworkers can be vile to landlords. The numbere of available vouchers has been reduced since Clinton cut out a lot of welfare. However, w/the economy as it is, who knows? {ut that arrow in your quiver, but you need a gaggle of strategies to meet changing times & policies.

A lot of what you want to know can be found int he Archives, both here & in the MH Forum. Many of us focus either on parks or L/home deals.

I keep all my properties on the same street, what I term a 'Virtual Park." Same rules as my park on the same road, but w/out the infighting.

I wouldn’t wait to learn what you need to know, but I’d go in as well prepared as possible, & you can do tht right here by networking w/others & attending events. Be sure to real all of Lonnie’s books.