East Bay Real Estate Investing in 2020 (Section 8, BRRR...)

[Jessica Jones]

Hi All-

First off, how am I just discovering Bigger Pockets!?? I am incredibly grateful that I found this podcast and community. I'm a Registered Dietitian & Entrepreneur and I have been passionate about real estate ever since I was 6 years old (seriously... I used to find open houses in the Penny Saver and beg my mom to take me). 

My husband and I purchased our first property in the Richmond Annex in 2018 (a 2/1 with an unfinished basement). Last year we renovated the basement and turned it into a permitted 450-square foot studio and have been renting it out to traveling nurses every since. 

We are looking to grow our portfolio and are thinking about using the BRRR method to rent out via Section 8.

I have three questions:

-Does anyone have any experience with Section 8 in the East Bay (Richmond, Antioch, San Pablo, Pitsburg, San Leandro, Hayward, Oakland, etc)? What has your experience been like? Are there a lot of applicants for 4,5,6 bedroom homes? Is the process seamless as a landlord? Have you ever seen the fair market rents DECREASE (or has funding been cut?)

-What are the cities in the East Bay that you recommend investing, especially if I am looking for a SMR with a PP under $400,000

Lastly, I'm looking to connect with any other East Bay investors to offer each other support, exchange ideas, analyze deals, etc. Please don't hesitate to contact me as I'd love to connect!

Thank you!

[Jerome Kaidor]

And I have a building in Hayward with a few Section 8 tenants.  I've found the Alameda County housing authority easy to deal with.  They direct deposit the rent to my bank every month.  They gave me a reasonable rent increase that I asked for without any fuss.  Interestingly, Section 8 apartments are exempt from the current version of Hayward rent control.

At the time of the last government shutdown, I was worried that Section 8 might run out of money, but that didn't happen.