Realtor & single family Investor in NW suburbs of Chicago

[Eva Goulbourne]

Hello Everyone, Happy New Year! I finally joined the Biggerpockets community! I've been following Brandon for a couple of years now, maybe more, so it's time. This year I want to get deeper into investing and buy more properties. In addition to helping more people buy and sell their properties.

I listen to the Biggerpockets podcast frequently and I found the strategy I want to use in episode 356. Joe Asamoah is buying homes and renting them out to section 8 tenants in Washington D.C. As you probably know, the market in Washington D.C. is expensive. Although not as expensive here in the NW Suburbs of Chicago, we still have ridiculous taxes. Since they cleared out Cabrini-Green and other public housing from Chicago, we are seeing more section 8 housing moving into our neighborhoods. I see a need for more section 8 housing that's as good as a luxury apartment. I also see that Illinois won't be getting rid of this voucher program anytime soon, in fact, it's growing yearly. I agree that there is a stigma attached to section 8 housing and to be honest, it doesn't bother me. Everyone deserves a nice place to call home if they want one. I would say I have a talent for attracting and finding great tenants. I'm not afraid to dig deep and ask uncomfortable questions. If anyone is using this strategy in my area, I'd love to hear how it's working for you!

If you are in the Chicagoland area, in my specific area, let's connect! 

Having said all that.. I will be eventually making the move to Florida. September 2022 is the plan. Not exactly sure where.. somewhere along the Atlantic, possibly Delray Beach?? If anyone buys homes in Florida along the Atlantic, then rents them out to section 8 tenants I'd love to hear from you! I'd like to know if there is a need for it as much as there is here in the Chicagoland market. I'd also like to know if you think the state handels the process adequately. 

Thank you for taking the time to read my post! I look forward to connecting and learning from each other!

[Mark Ainley]

@Eva Goulbourne We did this as a strategy here in Chicago starting back in 2009 and you can hear about it on Podcast 72 here on BP.  Also, I wrote a blog on our website on the ins and outs of CHA that you can check out(they wont let me link here but I will PM it to you).  I know you are going to do this in Florida but a lot of the same applies in the larger housing authorities across the country.  

Right now we manage about 140 Section 8 tenants across 5 of the Chicagoland housing Authorities and can speak to the experience of all of them.  Happy to talk to you about any of the ins and outs anytime.  We are right down the street from you!