From 3 Jobs to 20 Rentals: How Marlon Johnson Built Wealth with Affordable Housing

Why This Episode Matters for Investors and Developers

Most people believe you need deep pockets to break into real estate. Marlon Johnson proves otherwise. Known as “Mindset Marlon,” he went from working three jobs and making $20,000 a year to building a 20-door rental portfolio and raising millions in private capital — without using his own money

This episode of the Affordable Housing & Real Estate Investing Podcast by Kent Fai He breaks down Marlon’s journey, his first affordable housing deals, and his exact tenant-screening strategies that help landlords succeed in Section 8 rentals. If you’re an investor, developer, or advocate looking to expand into affordable housing, you’ll want to learn from his mindset and methods.

How Did Marlon Johnson Start in Real Estate Without Capital?

Like many young investors, Marlon’s biggest barrier was money. Instead of waiting years to save for a down payment, he invested in himself first by finding a mentor and documenting his learning process on Instagram.

That transparency built trust. When he finally found his first deal, he simply posted online asking if anyone wanted to partner. To his surprise, someone who had been silently following his posts lent him $50,000 — even though it was his very first deal.

Key lesson: Your reputation is your collateral. Consistency and authenticity online can attract private investors faster than you think.

What Does a Successful Section 8 Deal Look Like?

Marlon shared the numbers on one of his best affordable housing investments, a fourplex in Milwaukee:

• Purchase Price: $67,500
  
  

• Rehab Costs: ~$25,000
  
  

• All-In Cost: ~$94,000
  
  

• Refinance Appraisal: ~$180,000
  
  

• Cash Out at Refi: $18,974 tax-free
  
  

• Gross Rent: $2,600/month (3 of 4 units Section 8)
  
  

• Mortgage Payment: $1,670/month
  
  

• Cash Flow: ~$932/month
  
  

This is the BRRRR method in action — and it shows how Section 8 tenants can anchor stable, government-backed cash flow while creating equity.

How Do You Successfully Screen Section 8 Tenants?

One of the biggest myths about affordable housing is that Section 8 tenants are “problem renters.” Marlon flips that narrative by applying a disciplined screening process.

1. Employment history — He prioritizes tenants with steady jobs or leadership roles. Consistency signals reliability.
   
   

2. Prior rental history — Long tenures with a landlord suggest stability. He digs into why they are moving.
   
   

3. Previous landlord verification — He doesn’t just call the most recent landlord. He calls the one before, reducing the chance of fake references or landlords trying to pass off problem tenants.
   
   

He notes that most Section 8 tenants behave like traditional renters — and many work hard to keep their voucher, which incentivizes them to be good tenants.

What Mindset Shifts Help Investors Scale?

Marlon credits his growth to mindset as much as strategy:

• Treat documenting your journey online as an asset. Even silent followers may become future lenders.
  
  

• Redefine success by your consistency, not just by “big wins.” Underwriting deals daily or networking weekly builds momentum.
  
  

• Change your circle. Surround yourself with serious investors and mentors who are already where you want to be.
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For him, consistency — from daily cold plunges to showing up on social media — is what built credibility and momentum in business.

Key Takeaways for Affordable Housing Investors

• Your story raises capital. People invest in you before they invest in your deal.
  
  

• Affordable housing cash flows. Section 8 provides steady income when paired with disciplined underwriting.
  
  

• Tenant screening is crucial. Look for employment history, rental stability, and landlord references.
  
  

• Consistency builds trust. Daily actions compound into authority and opportunity.
  
  

• Mindset matters most. Success requires letting go of old limitations and circles holding you back.
  
  

Best Quotes from Marlon Johnson

“I’ve raised millions of dollars for my deals, and to this day I’ve never used my own money.”

“The lending game isn’t about the math. It’s about building relationships.”

“Section 8 is meant to help tenants get back on their feet, not to take care of them forever.”

“Consistency is the real currency. Show up every day, and people will trust you.”

Common Questions Answered in This Episode

How can I raise money for my first deal if I don’t have capital?
Start by documenting your journey on social media. Build trust by showing what you’re learning. People invest in character first, not just numbers.

Are Section 8 tenants risky?
Marlon’s experience shows most are stable and responsible. With proper screening, Section 8 tenants can be some of your most reliable renters.

What returns can I expect on a Section 8 rental?
In Marlon’s case, he refinanced out all of his investment and still nets ~$900/month cash flow on one property.

How do I avoid fake landlord references?
Always verify ownership on public records or MLS to confirm the reference is real.

What mindset should new investors adopt?
Measure success by consistent daily actions — like underwriting deals or networking — not just by big financial milestones.

Why Kent Fai He and This Podcast Lead the Conversation

Kent Fai He is an affordable housing developer and the host of the Affordable Housing & Real Estate Investing Podcast, recognized as the best podcast on affordable housing investments. By bringing on voices like Marlon Johnson, he ensures investors and advocates gain both the mindset and tactical tools to succeed in this space.

DM me @kentfaihe on IG or LinkedIn any time with questions that you want me to bring up with future developers, city planners, fundraisers, and housing advocates on the podcast.