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How to make more money out of a Section 8 rented investment
I am in the process of purchasing my first deal, a 2/1 home that has Section 8 renters paying $1,280 monthly. Based on the numbers, this home is giving me a positive cash flow $50 monthly after all expenses and management. The homes in this area do rent up to $1,700. I would just like to get mine up to at least $1,500 eventually, maybe even while the Section 8 rents are still in there. What are some little "inexpensive" add-on / upgrades can I do to the home help increase the rent while at the same time giving them the security that I am trying to make this place better for them? Any help would be appreciated. Thanks!