Ready to Dive into Section 8

[Vinay Sanapala]

Hi, all! Appreciate the amazing insight and support you all provide

I'm looking to build a Section 8 portfolio and looking for some guidance from those who have done it.

Some details:

My personal mission is to take care of Veterans and families who are not able to take care of themselves. 

I have about $200K to deploy. Goal is to get to 1 Section 8 property, then 5, then 15, then 50. Timeline contingent on good deals. Looking to invest out of state (TX is no good with its high taxes). Areas that interest me are the Midwest and Southeast.
-Any mentors you recommend reaching out to?
-Got markets to target? Where have you been successful? Less successful?
-How do you analyze what a good deal is to put in an offer for a Section 8 property?
-Got a trusted realtor who understands Section 8?
-Got inspectors who accurately captured the issues with home(s)?
-Got lenders who do DSCR loans? (I have no interest in owner financing)
-Got contractors who know how to get a home to Section 8 code?
-Got a Property Management company with significant experience with Section 8 homes?

Any tips, tricks, or best practices you wish you knew when starting out?

Stay blessed. I appreciate every single one of you.

[James Wise]

Quote from @Vinay Sanapala:

Hi, all! Appreciate the amazing insight and support you all provide

I'm looking to build a Section 8 portfolio and looking for some guidance from those who have done it.

Some details:

My personal mission is to take care of Veterans and families who are not able to take care of themselves. 

I have about $200K to deploy. Goal is to get to 1 Section 8 property, then 5, then 15, then 50. Timeline contingent on good deals. Looking to invest out of state (TX is no good with its high taxes). Areas that interest me are the Midwest and Southeast.
-Any mentors you recommend reaching out to?
-Got markets to target? Where have you been successful? Less successful?
-How do you analyze what a good deal is to put in an offer for a Section 8 property?
-Got a trusted realtor who understands Section 8?
-Got inspectors who accurately captured the issues with home(s)?
-Got lenders who do DSCR loans? (I have no interest in owner financing)
-Got contractors who know how to get a home to Section 8 code?
-Got a Property Management company with significant experience with Section 8 homes?

Any tips, tricks, or best practices you wish you knew when starting out?

Stay blessed. I appreciate every single one of you.

 If you go into this with the "taking care of families who can't take care of themselves mindset", these people are going to tear your business apart limb from limb. If you wanna help families, do charity work. Do not confuse the role of a business a Section 8 investor with any type of charitable endeavor.