Converting property to HUD

[Chris Carson]

Has anyone ever purchased a property with the intention of converting it to HUD? I'm finding lots of info on buying HUD properties but almost nothing on converting one over. Anyone have experience with this?

[Patti Robertson]

@Chris Carson - Everyone always thinks they need to get their house in the SEC 8 program, but the true name of the program is "Housing Choice Voucher."  The TENANT is awarded the voucher and then the tenant chooses your house.  If you accept the tenant, subject to rent approval, you are then given a package of forms that you will enter info about the house that will allow the housing office to 1) estimate the cost of utilities for your unit and 2) determine if you are asking a reasonable rent.  If they accept your rent amount for the tenant (and the amount is tenant specific because their income is one of the variables in the equation), then you are scheduled for an inspection.  Once you pass inspection you can sign the lease and move the tenant in.  

I wrote a blog on the topic of SEC 8 if you want to check it out.  https://www.biggerpockets.com/blogs/9232/55313-intro-to-section-8---your-perceptions-vs-my-realities