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All Forum Posts by: Marcos De la Cruz

Marcos De la Cruz has started 14 posts and replied 65 times.

Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22
Quote from @Robin Bryant:

From an owner-agent perspective, investing in Section 8 properties with a buy-and-hold strategy can be a great way to build and grow your portfolio. Like any investment, there’s a learning curve—understanding which properties qualify, accurately estimating renovation costs to pass inspections, and managing typical real estate risks.

Having a reliable maintenance and management team in place is key to long-term success. As always, conduct thorough due diligence and make investment decisions that align with your personal financial goals. Working with an experienced local agent can also be a valuable advantage.

Hope this helps.  :-)

If you are considering the Atlanta and surrounding areas I am always available to share what I know! Happy House Hunting.


Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22

I'm considering properties that are currently occupied  by S8 tenants. 

Thanks for the info!

Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22
Quote from @Tom S.:

@Marcos De la Cruz  Echoing what other have said, both pros and cons.  I added 2 section 8 units to my rental mix over the past 2 years and in general, no issues.  Rent is paid on time, and no problems with the general inspections at the beginning.  One unit passed immediately, the other unit they asked me to professionally clean the carpets.

Slow on the paperwork side, but for both tenants, I can see them staying for many years.

Depending on the state, they may have a one time incentive bonus to sign up.  Mine (in VT) was $1,000.

Hope that helps and good luck!


Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22

Thanks, Mike, excellent info! 

Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22
Quote from @Mike Paolucci:
Quote from @Marcos De la Cruz:

Anyone have experience with multi family section 8?


Section 8 can be worth it if you have the right teams in place. 

Some general pros v cons - I'm sure other people will provide other insights as well

Pros: 
-Above market rents
- Monthly rent payment on time that you don't have to worry about or chase anyone down for (if full pay)
- No shortage of tenants depending on your standards 
- Tenants are incentivized to not trash/destroy the unit, otherwise they'll lose their voucher (Yearly inspections made by local S8 inspectors to keep everyone honest
- Rental payouts are normally adjusted 1-2 times a year to keep up with market rents

Cons:
- May take a little while to get onboarded - dealing with local govt can always take longer than expected   
- Generally won't have a super high credit score (to be expected given it's the govt paying for rent)
- Each unit will need to be inspected and meet a certain living standard in order to be approved for funding

You'll want to make sure you work with a property manager who has extensive experience in working with S8. They'll know what standards are needed and should be able to assist you getting units ready to go for the inspections. Mine makes it a set standard that each unit they touch MUST meet the section 8 minimum standard of requirements to widen their applicant pool. 


Happy to answer any additional questions & good luck with your investing. 


Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22
Quote from @Jaycee Greene:
Quote from @Marcos De la Cruz:

Anyone have experience with multi family section 8?

Hey @Marcos De la Cruz! What kind of "experience" are you seeking?


 Ownership. I want to hear from owners and if It's worth it or not.  

Post: Anyone have experience with Section 8?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22

Anyone have experience with multi family section 8?

Post: Omnikey Realty reviews

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22

Thanks for the reply but I'm interested in reviews pertaining to that company and the properties they sell to investors.

Not really considering them for PM. 

Post: Omnikey Realty reviews

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22

Looking for reviews of Onmikey Realty in north TX.

I've seen reviews for their PM company, but not investor reviews.

Thanks.

Post: Cash flow minimum?

Marcos De la CruzPosted
  • Investor
  • Huntington Beach, CA
  • Posts 66
  • Votes 22

Thanks for your input.

Definitely staying away from class C.