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Updated over 4 years ago on . Most recent reply

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Jack Langfald
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Greetings everyone, wanna be investor here!

Jack Langfald
Posted

I have been a lurker for a while and finally decided to post. I am in Cheyenne and looking to start my real estate journey.  My wife is nervous about it all and would feel most comfortable with a multifamily already rented which I know means more money and less profit generally.  How many of you take section 8 housing?

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Jack, I just had another real-world example. Tenant was placed about four months before I took over management. She's on Section 8 and pays $12 a month for her $700 rental. So she's essentially living there for free. She moved out two days ago so we inspected it and the place is filthy with no attempt to clean and damages on top. I think the deposit will cover it, but maybe not. In my experience, almost all of my Section 8 renters have left owing money. People just don't take care of things they don't have to pay for.

  • Nathan Gesner
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