Best State/City for Section 8

[MARK S KING]

Hello, any input on the best market for section 8? Looking for a way to analyze the highest allowance from Sec8 vs the lowest priced homes, wondering where you can get the most bang for your buck. I have heard the target is at least 400-500 per month net positive cash flow based on 20% down. Where are you seeing opportunities? Thank you!

[Cole Brittner]

Quote from @Travis Biziorek:

I have three tenants on Section 8. For a 3 bed/1bath home you can easily get $1,300/mo here in Detroit. And numbers I believe are up to $1,650/mo (or something like that) if you include utilities. I know they adjusted voucher limits higher again this year and we'll be pushing for increases on ours when they come up for renewal.

 Is there a specific area in Detroit you buy in for section 8 rental? I’m in Utah, not familiar with that area. I’m looking to buy my first rental for 110k or less, is that budget going to get me a place out there that will actually be rented out every month?

[Travis Biziorek]

Quote from @Cole Brittner:

Quote from @Travis Biziorek:

I have three tenants on Section 8. For a 3 bed/1bath home you can easily get $1,300/mo here in Detroit. And numbers I believe are up to $1,650/mo (or something like that) if you include utilities. I know they adjusted voucher limits higher again this year and we'll be pushing for increases on ours when they come up for renewal.

 Is there a specific area in Detroit you buy in for section 8 rental? I’m in Utah, not familiar with that area. I’m looking to buy my first rental for 110k or less, is that budget going to get me a place out there that will actually be rented out every month?

Yes, that's a budget that will get you into a decent area for SFH. I'm assuming you're talking $110k cash and not an amount you'd be pre-approved for?

Finding solid deals on the MLS that you can finance up-front is more challenging but still doable. I generally focus on off-market stuff where we can add value though.

[Drew Sygit]

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[Regina Blake]

Hi, yes, check out Ohio! 

[Joseph Beatty]

I can't speak on other markets, but I work with a lot of investors that exclusively look for section 8 deals in the Pittsburgh market! 

[Michael Bishay]

Quote from @Joseph Beatty:

I can't speak on other markets, but I work with a lot of investors that exclusively look for section 8 deals in the Pittsburgh market! 

I live in northern NJ and Interested in the Pittsburg market for section 8 rentals.  Are you a broker? 

[Joseph Beatty]

Quote from @Michael Bishay:

Quote from @Joseph Beatty:

I can't speak on other markets, but I work with a lot of investors that exclusively look for section 8 deals in the Pittsburgh market! 

I live in northern NJ and Interested in the Pittsburg market for section 8 rentals.  Are you a broker? 

 Hey Michael, I'm not a broker, but I am a licensed agent, and we come across section 8 rental properties pretty often. Happy to connect and talk more about the current market. 

[Samuel Qandah]

Quote from @Jimmy Lieu:

Quote from @MARK S KING:

Hello, any input on the best market for section 8? Looking for a way to analyze the highest allowance from Sec8 vs the lowest priced homes, wondering where you can get the most bang for your buck. I have heard the target is at least 400-500 per month net positive cash flow based on 20% down. Where are you seeing opportunities? Thank you!

Hi Mark, Columbus Ohio is a great market for section 8 rentals. I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. Just this month, I’ve gotten under contract for my clients for multiple 20%+ cash on cash rental properties so there’s definitely tons of opportunity here. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Hey Jimmy. Just coming upon this thread. Wondering how's the current market in Columbus with section 8, rent to price ratios, ect? It is still looking strong like it was a year ago when you made wrote this? I appreciate your input. Thanks!     

[Jimmy Lieu]

Quote from @Samuel Qandah:

Quote from @Jimmy Lieu:

Quote from @MARK S KING:

Hello, any input on the best market for section 8? Looking for a way to analyze the highest allowance from Sec8 vs the lowest priced homes, wondering where you can get the most bang for your buck. I have heard the target is at least 400-500 per month net positive cash flow based on 20% down. Where are you seeing opportunities? Thank you!

Hi Mark, Columbus Ohio is a great market for section 8 rentals. I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. Just this month, I’ve gotten under contract for my clients for multiple 20%+ cash on cash rental properties so there’s definitely tons of opportunity here. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Hey Jimmy. Just coming upon this thread. Wondering how's the current market in Columbus with section 8, rent to price ratios, ect? It is still looking strong like it was a year ago when you made wrote this? I appreciate your input. Thanks!     

Hi Samuel, yup the current market of Columbus Ohio is still great and able to find tons of deals that hit the 1% rule and positive cash flow. If you're working with section 8, you're able to cash flow even better than normal LTRs because you can typically charge higher the standard market rents. I have tons of real estate clients who have crazy cash flowing rentals that are killing it because they accept section 8 as well. Definitely should check out the market here because you get an amazing mix of cash flow and appreciation. Happy to connect and answer any questions you may have! :)