Section 8 Investment in Detroit Michigan

[Sunghee Shin]

Hi there (new to BP here), 

Anyone do section 8 rentals in Detroit, MI? If so, does anyone use PM to manage the properties? 

Soon, I'll have some capital to invest in RE. Been really interested in investing in properties in Detroit and to do section 8 rentals. I would preferably like to do this out of state, which is why I ask about PM. I wonder if it is uncommon for people to do section 8 rentals out of state.

I've heard horror stories and great success stories. I'd like to hear from others who has experience in doing section 8 rentals in Detroit and hopefully some references to PM who deal with section 8.

[Isaura Orellana]

Don’t worry about confused and spiteful trolls like the fellow a few posts back. He may literally be the biggest Detroit troll artists on Bigger Pockets. Not really sure why he hasn’t been banned. Last month he was trying to scare everybody out of the Detroit market so he could buy more properties for himself at a better price lol. Anyways, back to the importance and relevancy of placing section 8 tenants in rental properties. It is without a doubt the best and most efficient way to tenant rental properties and maximize rents here in Detroit. Not to mention the most profitable and lucrative. For example, we were approved last week via section 8 for two of our 3bed 1bath MF units for over $1250 a unit. It would have been virtually impossible to receive those same rents from cash tenants for both those units. Not to mention cash tenants these days are ridiculously high risk! Millions of cash tenants in Detroit and every other state in the country are hiding behind the Moratorium curtain and haven’t been paying rent for the past 6 months. Us, as well as our clients ALL much prefer the security of receiving government guaranteed rent every month rather than unanswered phone calls from cash tenants who are refusing to pay for one reason or another. Rent literally gets wired into ours and our clients accounts every month like clockwork. What could be better? Please enlighten me?.. Our clients sure do sleep well at night knowing it’s money in the bank time. Cha-Ching as they say..Voilà Cashflow. Pandemic proof, recession proof, unemployment proof, wups I forgot it’s rent time proof! Not only that, here in Detroit, the average stay for section 8 is 6-8 years. Some stay 20 years, some stay a life time. This sure keeps turn over costs low and at bay. Another huge benefit is owner/landlord can raise section 8 rent up every year to market rent. What’s not to like about that Pete?. Unlike these trolls or bots we’ve tenanted over 50 units in just the past year alone and both we are absolutely THRILLED with the results. Furthermore, as an investor and a turnkey provider I love that section 8 has a vigorous inspection prior to the tenant moving in. It keeps us on our toes about providing quality rehabs for ourselves, our clients as well as the tenants who will live there. Easy to see why some nefarious types would shy away from delivering section 8 rental properties. One less hoop for them to jump through on the bamboozle wagon. Receiving government guaranteed rent every month is priceless and hugely eliminates risk for out-of-state and out-of-country investors. Anyone that tells you different is either completely inexperienced or has ulterior motives. Section 8 turnkey providers are clutch in these new and uncertain times to any investor looking for positive cash flow and high fruitful returns.