Section 8 investing in Detroit area

[Asma Shah]

Hi, I have read posts in a number of forums about section 8 investing in Detroit. I am a newcomer to the real estate investment scene in the US (moved here in the pandemic), and I wanted to connect with anyone that has experience with Section 8 investments in Detroit. I’m particularly interested in learning about areas within the city that are promising for such investments. I'm absolutely clueless, and am looking for anyone who is willing to share their experiences, advice, or point me towards resources that could help in understanding the market better. I would be immensely grateful if you could share your insights on what would be absolutely crucial & invaluable to me as I take my first steps in this journey. Thanks so much in advance!

[Travis Biziorek]

Hi Asma, if you're in the Detroit area (sounds like you are), I'd attend the Detroit Renegades meetups. I used to go to it regularly when I lived in Troy from 2017-2022.

I have 12-doors in Detroit, 3 of which have S8 tenants. I'm happy to point in the direction of some additional resources as well.

[Michael Smythe]

@Asma Shah please don't tell us you dropped a few thousand on a S8 guru program!

Section 8 is a tool for landlords, NOT a cure-all.

Yes, a landlord can sometimes get higher rent via S8 than they can from cash paying tenant, but only in Class C- and D areas. Then, a landlord's challenge is getting a S8 tenant to live in a lower Class area. 

Waive app fee and Security Deposits and you're sure to get a tenant, just don't freak out when they trash your property.

Another S8 challenge for landlords is fewer & fewer voucher holders have 100% of their rent paid by S8. A decent portion of S8 tenants don't pay their portion of rent or utilities - sticking it to their landlord.

Forget about using the threat of having their voucher taken away, as that doesn't really happen any more:(

We manage almost 700 doors in Metro Detroit with almost 100 S8 tenants. So, we're very familiar with the S8 program and tenants, and how to properly screen them to avoid the worst ones.

PM us if you have additional questions:)

[Asma Shah]

Quote from @Travis Biziorek:

Hi Asma, if you're in the Detroit area (sounds like you are), I'd attend the Detroit Renegades meetups. I used to go to it regularly when I lived in Troy from 2017-2022.

I have 12-doors in Detroit, 3 of which have S8 tenants. I'm happy to point in the direction of some additional resources as well.

Hi Travis, i have read many of your posts on different forums. No, i do not live in Detroit. As a matter of fact i am looking for information of how to invest out-of-state. I live in NJ, and it has a very high cost of living and with the current rate of interest, makes it a very pricey market so to say, and not that investment real estate friendly. I would love to have the opportunity to connect and learn from you.

[Travis Biziorek]

Quote from @Asma Shah:

Quote from @Travis Biziorek:

Hi Asma, if you're in the Detroit area (sounds like you are), I'd attend the Detroit Renegades meetups. I used to go to it regularly when I lived in Troy from 2017-2022.

I have 12-doors in Detroit, 3 of which have S8 tenants. I'm happy to point in the direction of some additional resources as well.

Hi Travis, i have read many of your posts on different forums. No, i do not live in Detroit. As a matter of fact i am looking for information of how to invest out-of-state. I live in NJ, and it has a very high cost of living and with the current rate of interest, makes it a very pricey market so to say, and not that investment real estate friendly. I would love to have the opportunity to connect and learn from you.

Gotcha. Well, feel free to shoot me a DM any time. Happy to share some resources and hop on a call.

[Asma Shah]

Quote from @Michael Smythe:

@Asma Shah please don't tell us you dropped a few thousand on a S8 guru program!

Section 8 is a tool for landlords, NOT a cure-all.

Yes, a landlord can sometimes get higher rent via S8 than they can from cash paying tenant, but only in Class C- and D areas. Then, a landlord's challenge is getting a S8 tenant to live in a lower Class area. 

Waive app fee and Security Deposits and you're sure to get a tenant, just don't freak out when they trash your property.

Another S8 challenge for landlords is fewer & fewer voucher holders have 100% of their rent paid by S8. A decent portion of S8 tenants don't pay their portion of rent or utilities - sticking it to their landlord.

Forget about using the threat of having their voucher taken away, as that doesn't really happen any more:(

We manage almost 700 doors in Metro Detroit with almost 100 S8 tenants. So, we're very familiar with the S8 program and tenants, and how to properly screen them to avoid the worst ones.

PM us if you have additional questions:)

 Hello, thanks for that detailed reply. No, i haven't signed up with any guru program, as i feel if the guru's are doing so well in their investments, why do they need to waste time selling courses!!! :)

I am however looking for a course to understand valuations better. I am a financial analyst by profession, so numbers speak to me. I need to understand better on how to valuate deals.

[Michael Smythe]

@Asma Shah PM us for more info:)

[Jose Jacob]

Quote from @Asma Shah:

Hi, I have read posts in a number of forums about section 8 investing in Detroit. I am a newcomer to the real estate investment scene in the US (moved here in the pandemic), and I wanted to connect with anyone that has experience with Section 8 investments in Detroit. I’m particularly interested in learning about areas within the city that are promising for such investments. I'm absolutely clueless, and am looking for anyone who is willing to share their experiences, advice, or point me towards resources that could help in understanding the market better. I would be immensely grateful if you could share your insights on what would be absolutely crucial & invaluable to me as I take my first steps in this journey. Thanks so much in advance!

 Asma,

Please check your DM