Out-of-State - Ohio Section 8 Housing

[Danielle B.]

I'm looking to get involved in Section 8 housing out-of-state - in OH. For those who are running successful Section 8 businesses out-of-state, did you start in just 1 state or if the opportunity made sense would you purchase the property regardless of the state?

Self-proclaimed Section 8 guru's online claim to do the latter and then find Property Managers after they purchase the property in whatever state, but I don't know how real that is.

[Stuart Udis]

Most who opt for section 8 are purchasing in the lowest barrier neighborhoods where section 8 is the best of bad options. This is being pushed on out of state investors who don't have a clue what they are signing up for. Ultimately its the brokers, PM's and lenders who are advocating for this strategy because they are collecting their fees. Very difficult to be successful with this program when buying in these lower tier markets unless you are hands on as you say and yes, scale is necessary to achieve efficiencies. Neither of which is happening with these out of state investors who believe section 8 is there path to early retirement.