Rental / Section 8 Properties
Member since 2024 · 12 posts · 7 votes
Hello everyone. I’m new to bigger pockets and in need of advice. I’m new to investing and was looking to invest into 2-4 bedroom houses for Section 8 rentals. I live in NY and was looking in Detroit, MI, Cleveland, OH and Philadelphia, PA areas. Found lots of properties that might be in need of rehab for a relatively low price which seemed like a good deal to me. Question is how hard is to find section 8 tenants in those cities and which areas I should be looking to purchase that are section 8 friendly. Any advise would be greatly appreciated. Thank you.
I’m a section 8 investor half of those items do not comply, difficult to evict?? Does that mean the city or government can’t pay you rent? Never heard of this never had this happen. Yearly inspections, great I do them 2-3 times a year it’s my property would like to see them and check on them. Have you driven a car and not do an oil change? Of course you don’t get payment until the application and process is complete and approved by the committee then you allow them access and that’s after they paid the SD. Difficult selling? Really? Hi investor, I have 10 vacant homes for sale would you like to give me a “low ball offer”??? Hi investor I have 10 fully leased section 8 tenants oh and btw here is my income statements and all the income from my section 8 properties showing the state of where ever you live depositing into my account, which on do you think you will be better off when time comes to sell???
You are aware of the hazards of getting involved in S8 housing as a landlord, right?
You are aware of the hazards of getting involved in S8 housing as a landlord, right?
You are aware of the hazards of getting involved in S8 housing as a landlord, right?
He's lucky. Only a portion of the rent is covered. And any quick search will give you the info you need. Below is a cut/paste from a site I found. But better yet, do a deep search on this very Forum and see what actual S8 Landlords have said about this.
You are aware of the hazards of getting involved in S8 housing as a landlord, right?
He's lucky. Only a portion of the rent is covered. And any quick search will give you the info you need. Below is a cut/paste from a site I found. But better yet, do a deep search on this very Forum and see what actual S8 Landlords have said about this.
I’m a section 8 investor half of those items do not comply, difficult to evict?? Does that mean the city or government can’t pay you rent? Never heard of this never had this happen. Yearly inspections, great I do them 2-3 times a year it’s my property would like to see them and check on them. Have you driven a car and not do an oil change? Of course you don’t get payment until the application and process is complete and approved by the committee then you allow them access and that’s after they paid the SD. Difficult selling? Really? Hi investor, I have 10 vacant homes for sale would you like to give me a “low ball offer”??? Hi investor I have 10 fully leased section 8 tenants oh and btw here is my income statements and all the income from my section 8 properties showing the state of where ever you live depositing into my account, which on do you think you will be better off when time comes to sell???
I’m a section 8 investor half of those items do not comply, difficult to evict?? Does that mean the city or government can’t pay you rent? Never heard of this never had this happen. Yearly inspections, great I do them 2-3 times a year it’s my property would like to see them and check on them. Have you driven a car and not do an oil change? Of course you don’t get payment until the application and process is complete and approved by the committee then you allow them access and that’s after they paid the SD. Difficult selling? Really? Hi investor, I have 10 vacant homes for sale would you like to give me a “low ball offer”??? Hi investor I have 10 fully leased section 8 tenants oh and btw here is my income statements and all the income from my section 8 properties showing the state of where ever you live depositing into my account, which on do you think you will be better off when time comes to sell???
Hey Jahangir, I do a ton in Detroit and have 12-doors there myself. Three of those are rented to S8 tenants.
Finding S8 tenants is definitely doable, but has gotten more challenging as more and more investors seem to be gravitating toward this strategy.
These are all great markets for cash flow and potential appreciation. You can do extremely well if you work with the right folks. I'd be happy to shoot you over some Detroit specific resources if you end up looking at that market.
Hey Jahangir, I do a ton in Detroit and have 12-doors there myself. Three of those are rented to S8 tenants.
Finding S8 tenants is definitely doable, but has gotten more challenging as more and more investors seem to be gravitating toward this strategy.
These are all great markets for cash flow and potential appreciation. You can do extremely well if you work with the right folks. I'd be happy to shoot you over some Detroit specific resources if you end up looking at that market.
Travis are you trolling me??? Jk! About classes Detroit is a street by street city not necessarily by class you have class B and a block away is a war zone so you do need boots on the ground for sure DM me or Travis and I give you some guidance but going solo is a little difficult partnering up would be a little easier and less risk but again up to you.
Travis are you trolling me??? Jk! About classes Detroit is a street by street city not necessarily by class you have class B and a block away is a war zone so you do need boots on the ground for sure DM me or Travis and I give you some guidance but going solo is a little difficult partnering up would be a little easier and less risk but again up to you.
No sir, I could not read that big block of text with no line breaks :-)
Nope you're well. Let's catch up soon!
Travis are you trolling me??? Jk! About classes Detroit is a street by street city not necessarily by class you have class B and a block away is a war zone so you do need boots on the ground for sure DM me or Travis and I give you some guidance but going solo is a little difficult partnering up would be a little easier and less risk but again up to you.
Send me a DM I have a few deals you might fit right in since you’re going down that route. I will need a little more information so I can get a better idea what would work for you here in Detroit .
those low price points are tempting for a reason... probably lots of deferred maintenance and potentially in more challenging neighborhoods.
if you think you're going to buy a random property off Zillow and start cash flowing in month 1 or even year 1... buckle up.
i strongly recommend you start with a house hack locally instead. or... move to one of the cities, roll up your sleeves, and start in person.
https://www.biggerpockets.com/forums/12/topics/1171104-the-m...
You are aware of the hazards of getting involved in S8 housing as a landlord, right?
He's lucky. Only a portion of the rent is covered. And any quick search will give you the info you need. Below is a cut/paste from a site I found. But better yet, do a deep search on this very Forum and see what actual S8 Landlords have said about this.
those low price points are tempting for a reason... probably lots of deferred maintenance and potentially in more challenging neighborhoods.
if you think you're going to buy a random property off Zillow and start cash flowing in month 1 or even year 1... buckle up.
i strongly recommend you start with a house hack locally instead. or... move to one of the cities, roll up your sleeves, and start in person.
https://www.biggerpockets.com/forums/12/topics/1171104-the-m...
If you follow " my rules " when renting to ANYONE cash or a govt program. Buy right, RENO right, rent right, all is fine. There is not any more deferred maintenance renting to a govt tenant vs cash.
good points, I was just saying that for this poster - who is based in NY - these properties look 'low priced' because they need big rehabs. you have an experienced team... he does not =)
good points, I was just saying that for this poster - who is based in NY - these properties look 'low priced' because they need big rehabs. you have an experienced team... he does not =)
Just because there low priced does not always indicate the prop needs a big reno. I just got a few for under 90k,( one for 38k) that need under 10k and that's only because I am doing preventive maintenance. Does not really need anything,
All the best
Nicholas actually you can pick a house in Detroit in the $50k to $70k range then in Zillow flip the search to rental your already in the 1-2% rule for renting. I’ve been saying this way too many times. This is not California, Texas or Florida. This is cash flow king :) come by one day I’ll be more than happy to show you around the Motown!
yes totally agree it's possible. you can do the same in Pittsburgh. i just worry about the posters in HCOL areas who want to do it all from Internet. that is what is not a good idea =)
Ok, Bob, I'll defer to you on this. Way out of my comfort zone.....
Ok, Bob, I'll defer to you on this. Way out of my comfort zone.....
All good bro,,,,,,,, YES the person who wrote that should not be posting those comments. UNLESS he is trying to sell a " sec 8 class"
Keep crushing it .
Its a very good program and can be lucrative if the person has the abilities and skill sets to make it work. There are many moving parts that can present massive challenges if not done effectively. However, there are so many here who can testify what a great experience they have had with it. One thing that concerns me is it seems like you could be approaching this from a simplistic mindset. It seems like you observed your friend making out with it, its easy, so you will do the same. Its not easy and can be very involved. Doing it from out of town with no experience can collapse the entire thing if you dont assess reality. Its so much more than buying any home; have home depot labors fix it; rent to section 8 and collect check to become rich. It can happen but there could be 2 to 3 dozen more things in between you need to be proficient in. You must be prepared from multiple angles and know how to maintain stability. If it was easy and smooth simply collecting checks, everyone would be rich doing the same thing with success.
those low price points are tempting for a reason... probably lots of deferred maintenance and potentially in more challenging neighborhoods.
if you think you're going to buy a random property off Zillow and start cash flowing in month 1 or even year 1... buckle up.
i strongly recommend you start with a house hack locally instead. or... move to one of the cities, roll up your sleeves, and start in person.
https://www.biggerpockets.com/forums/12/topics/1171104-the-m...
It’s a very good program and can be lucrative if the person has the abilities and skill sets to make it work. There are many moving parts that can present massive challenges if not done effectively. However, there are so many here who can testify what a great experience they have had with it. One thing that concerns me is it seems like you could be approaching this from a simplistic mindset. It seems like you observed your friend making out with it, it’s easy, so you will do the same. It’s not easy and can be very involved. Doing it from out of town with no experience can collapse the entire thing if you dont assess reality. It’s so much more than buying any home; have home depot labors fix it; rent to section 8 and collect check to become rich. It can happen but there could be 2 to 3 dozen more things in between you need to be proficient in. You must be prepared from multiple angles and know how to maintain stability. If it was easy and smooth simply collecting checks, everyone would be rich doing the same thing with success.
those low price points are tempting for a reason... probably lots of deferred maintenance and potentially in more challenging neighborhoods.
if you think you're going to buy a random property off Zillow and start cash flowing in month 1 or even year 1... buckle up.
i strongly recommend you start with a house hack locally instead. or... move to one of the cities, roll up your sleeves, and start in person.
https://www.biggerpockets.com/forums/12/topics/1171104-the-m...
If you follow " my rules " when renting to ANYONE cash or a govt program. Buy right, RENO right, rent right, all is fine. There is not any more deferred maintenance renting to a govt tenant vs cash.