Quote from @Ardian Muriqi:
Hello all, I am currently a westchestor county resident and I have been taking a look at investing into properties in Rochester due to the cost. I am looking at investing in properties mainly in the 70-130k range and am looking at investing solely into properties that would house section 8 tenants. I am mainly wondering if people are actually getting tenants into these homes for the rates seen on hud. I am also wondering how the process goes, and how long generally speaking it would take to house a tenant. I am also wondering how refinancing works regarding GRM and how a bank would potentially view a property of that nature regarding a refinance. I have no experience with this area specifically but do with areas near NYC and within NYC but due to the high cost am being nudged out. Thank you to all who answer I know this is a loaded question but any help would be amazing!
I am an agent over here in Rochester, NY and I agree with both Glen and Mackenzie. However, I see more of my clients looking for Section 8, since they are having some problems with tenants paying (not all of them though). It is a risk/reward situation with section 8. Like they said, usually requires more management, but it can guarantee some of the rent, if not, all of it. I hope this helps!
