Section 8 in Indiana?

[Kent Depwe]

Hey BP,

Has anyone here had experience doing Section 8 in Indianapolis or anywhere in general? How has it gone? It seems like a great way to get near unbeatable cash on cash returns.

I am seeing $60-70k 3 bedroom houses that would rent for maybe $600-700 to a regular tenant but section 8 HUD FMR pays $1100 so they are cash flowing $500/month. Better returns than I'm seeing even in multi family and most of it is guaranteed.

Also if anyone has any Sec8 PM’s or banks that can bundle loans or have low loan limits I’m currently looking for those!

Thanks all any advice is appreciated!

[Harvey Levin]

 Hi   we specialize in utilizing the Section 8 program in Indianapolis. I have been a landlord using section 8 since1985. In 2011 we started a PM company. It can be a great program but is also confusing. The rent amount you mentioned is not correct. The posted amounts include a landlord providing all utilites which we never reccomend. From what we are seeing a 60 to 70k 3 bed probably needs work or might be in a less desirable location. 3 to 4  years ago that price point was easy to find but current prices ( after repair) would exceed that amount. Send a DM  for more information.