BRRRR Section 8 Multiple Area's

[Matthew Giblin]

Hi,

I'm into several markets where we wish BRRRR properties in Detroit MI, St Louis MO, Baltimore, MD and Columbus, OH. Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. I'm looking for a team, an agent that with knowledge both on/off market deals/neighborhoods insight.....good GC, efficient and can accommodate multiple jobs and property manager with that is experience in section 8 housing.

Appreciate hearing from you.

[Jaycee Greene]

Hey @Matthew Giblin! I'm based in the St. Loius area. What acquisition prices and rehab costs are you targeting? How do you plan to finance the acq/rehab and then when it's stabilized?

[Drew Sygit]

@Matthew Giblin you're highly unlikely to succeed if you spread yourself over 4 markets.

Recommend you do more research and just pick one of the 4 markets.

Then do a trial run and see how it goes. 

If it goes well, investo more.

If it goes poorly, figure out why and maybe you picked the wrong market, the wrong team or the wrong property Class. 

DM us if you'd like to discuss the Detroit market in more detail:)

[Khalilah Williams]

Hey Matthew, 

I'm a but biased but I've lived all over the US. Alabama is the market to be in right now. I just sent you a message. Good Luck

[Remington Lyman]

Quote from @Matthew Giblin:

Hi,

I'm into several markets where we wish BRRRR properties in Detroit MI, St Louis MO, Baltimore, MD and Columbus, OH. Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. I'm looking for a team, an agent that with knowledge both on/off market deals/neighborhoods insight.....good GC, efficient and can accommodate multiple jobs and property manager with that is experience in section 8 housing.

Appreciate hearing from you.

 I can send you some referrals for Columbus, Ohio

[Khalilah Williams]

Quote from @Khalilah Williams:

Hey Matthew, 

I'm a but biased but I've lived all over the US. Alabama is the market to be in right now. I just sent you a message. Good Luck

[Todor Ialamov]

@Matthew Giblin

I primarily do BRRRR projects and fill them up with section 8 tenants. I love the strategy and long term results. I would not spread in so many markets though. Find the one that you like and makes sense the most and become the leader there!

[Stuart Udis]

Very difficult to operate low income housing through 3rd party management, especially over an extended period of time. Most who succeed are really running a business and reach scale that provides some relief through efficiencies. You will be hard pressed to do this if you are spread through 4 separate markets. Perhaps pick one and focus on generating scale. The other advice is to pick the the market that has the best fundamentals. This means the neighborhoods that have the greatest chance of shifting to home owner neighborhoods.  If you are set on buying low barrier affordable housing, you want to be an investor.....you don't want to be running a business. They are two distinctly different things and that's what trips up most lower income housing investors. 

[Jimmy Lieu]

Quote from @Matthew Giblin:

Hi,

I'm into several markets where we wish BRRRR properties in Detroit MI, St Louis MO, Baltimore, MD and Columbus, OH. Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. I'm looking for a team, an agent that with knowledge both on/off market deals/neighborhoods insight.....good GC, efficient and can accommodate multiple jobs and property manager with that is experience in section 8 housing.

Appreciate hearing from you.

Hi Matthew, I've done quite a lot of BRRRRs myself here in Columbus as an investor and for clients. Happy to connect and answer any questions you may have.

[Travis Biziorek]

Hey Matthew,

I work a lot in the Detroit market, specifically on BRRRR projects and with Section 8 tenants. My team on the ground there handles everything from sourcing deals to renovation, and we've worked with hundreds of investors each year to make these properties cash flow.

We’ve built up some solid relationships in Detroit—whether it’s general contractors, agents, or property managers who understand the ins and outs of Section 8. I started investing locally and have kept expanding after moving out of state, so I’ve got experience navigating the challenges that come with investing from a distance too.

Detroit has its challenges but also some of the best potential for cash flow combined with affordable entry points. If you have specific questions or want to get into more detail, I’m happy to help.

[Shamar Gregg]

Quote from @Matthew Giblin:

Hi,

I'm into several markets where we wish BRRRR properties in Detroit MI, St Louis MO, Baltimore, MD and Columbus, OH. Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. I'm looking for a team, an agent that with knowledge both on/off market deals/neighborhoods insight.....good GC, efficient and can accommodate multiple jobs and property manager with that is experience in section 8 housing.

Appreciate hearing from you.

Matthew,

I’d also suggest adding Chicago to the list. The city's appreciation, vacancy rate, cap rates are truly unparalleled when compared to the other markets you’ve mentioned. I have a strong team on the ground for any type of value add. I’d love to connect and discuss the numbers further.

[Stuart Udis]

Can we hear from individuals who have experienced sustained success buying section 8 rentals while relying on entirely 3rd party service providers? Has to be individuals  who own a large enough portfolio where they are not getting lucky relying on a small sample size. It is always service providers (Turn Key Operators, PM's, agents etc. etc.)  who are advocating for this strategy but normally crickets from owners. Just some food for thought...

[Matthew Giblin]

Quote from @Shamar Gregg:

Quote from @Matthew Giblin:

Hi,

I'm into several markets where we wish BRRRR properties in Detroit MI, St Louis MO, Baltimore, MD and Columbus, OH. Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. I'm looking for a team, an agent that with knowledge both on/off market deals/neighborhoods insight.....good GC, efficient and can accommodate multiple jobs and property manager with that is experience in section 8 housing.

Appreciate hearing from you.

Matthew,

I’d also suggest adding Chicago to the list. The city's appreciation, vacancy rate, cap rates are truly unparalleled when compared to the other markets you’ve mentioned. I have a strong team on the ground for any type of value add. I’d love to connect and discuss the numbers further.

[Matthew Giblin]

Quote from @Matthew Giblin:

Quote from @Shamar Gregg:

Quote from @Matthew Giblin:

Hi,

I'm into several markets where we wish BRRRR properties in Detroit MI, St Louis MO, Baltimore, MD and Columbus, OH. Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. I'm looking for a team, an agent that with knowledge both on/off market deals/neighborhoods insight.....good GC, efficient and can accommodate multiple jobs and property manager with that is experience in section 8 housing.

Appreciate hearing from you.

Matthew,

I’d also suggest adding Chicago to the list. The city's appreciation, vacancy rate, cap rates are truly unparalleled when compared to the other markets you’ve mentioned. I have a strong team on the ground for any type of value add. I’d love to connect and discuss the numbers further.

I sent you a request.  Look forward to youre response.  

[Jonathan Klemm]

Hey @Matthew Giblin - I'd have to echo @Shamar Gregg, Chicago offers a great section 8 program through the Chicago Housing Authority (CHA). 

We only have 4 units on section 8 right now, but in general, the system works well for investors IF you have a solid property manager who understands the subsides and does proper tenant screening.   Tenant screening often seems to get overlooked because landlords know the income is automatic, but the problem becomes the repairs and maintenance.  Plus, the unit ends up being 2X the cost, with tenants destroying the units.

With section 8, you want to find tenants will be there for a long time and take care of the units...