Section 8 housing investing

[Anonymous]

So what exactly is the advice on social media? Just to buy units and rent to Section 8, or is there some additional hack/twist?

[Anonymous]

Anonymous wrote:So what exactly is the advice on social media? Just to buy units and rent to Section 8, or is there some additional hack/twist?

One weird trick opens up the money spigot. But you have to buy their 6 part guide book system to unlock it.

[Anonymous]

Anonymous wrote:So what exactly is the advice on social media? Just to buy units and rent to Section 8, or is there some additional hack/twist?

DP. I've seen this on TikTok as well. The 'pushers' claim that Sec 8 is easy because the govt. guarantees/pays the rent and it is typically above market. No mention of the issues others have raised here, of course.

[Anonymous]

I never did section 8 for my properties because the amount they pay for the tenants is nowhere near market rate where I live. It's not worth it.

[Anonymous]

Anonymous wrote:So what exactly is the advice on social media? Just to buy units and rent to Section 8, or is there some additional hack/twist?

Yes, you have to kill them and bury them in the back yard while still collecting and cashing their vouchers.

[Anonymous]

Fck section 8 renting.

You want your copper ripped out, multiple people living there, not getting the tenant portion of the rent, and a huge headache evicting them?

These courses are snake oil and make money for the instructor. .000000001% of people on here have the stomach for Section 8. You have no idea. The stress is not worth it.

[Anonymous]

Anonymous wrote:You want to be a slumlord?

The only way to be a slumlord is to own a decrepit apartment with leaky ceilings, mold, roaches and then rent it out to a single mother with two children.

The landlords and tenants are the same. Most are decent but a minority of landlords and tenants are nightmares.

[Anonymous]

Anonymous wrote:It is all over tiktok and instagram. Does anyone here do it? Listening to these "gurus" it's an incredibly easy way to make money. It seems too good to be true.

We've done it and know others who've done it. Yes, generally speaking, rental rates are higher for section 8. You used to be able to look on the website and see the rate paid based on zipCode s. The majority of the rent is paid by the government and section 8 tenants typically stick around for years so you don't have typical turnover to deal with. You are able to select your tenant and there are some decent tenants out there. We've had two thus far over the past 15 years. The yearly inspections in DC haven't been so bad.

My advice is just because folks on dcurbanmom don't know about it, doesn't mean it can't be lucrative. It actually can be.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is all over tiktok and instagram. Does anyone here do it? Listening to these "gurus" it's an incredibly easy way to make money. It seems too good to be true.

We've done it and know others who've done it. Yes, generally speaking, rental rates are higher for section 8. You used to be able to look on the website and see the rate paid based on zipCode s. The majority of the rent is paid by the government and section 8 tenants typically stick around for years so you don't have typical turnover to deal with. You are able to select your tenant and there are some decent tenants out there. We've had two thus far over the past 15 years. The yearly inspections in DC haven't been so bad.

My advice is just because folks on dcurbanmom don't know about it, doesn't mean it can't be lucrative. It actually can be.

Thank you for letting us know about your positive experiences. Sometimes people who have no experience with the subject post about negative stereotypes they have heard. Usually if the landlord is a decent person who provides the required necessities the tenants will treat them with respect.

[Anonymous]

Anonymous wrote:All good until tenants get behind on rent, destroy the property, the government stops paying because of inspection fail and you get zero as the tenant squats for months or years.

+1. Above mostly is true, not a fan of the tone however.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is all over tiktok and instagram. Does anyone here do it? Listening to these "gurus" it's an incredibly easy way to make money. It seems too good to be true.

We've done it and know others who've done it. Yes, generally speaking, rental rates are higher for section 8. You used to be able to look on the website and see the rate paid based on zipCode s. The majority of the rent is paid by the government and section 8 tenants typically stick around for years so you don't have typical turnover to deal with. You are able to select your tenant and there are some decent tenants out there. We've had two thus far over the past 15 years. The yearly inspections in DC haven't been so bad.

My advice is just because folks on dcurbanmom don't know about it, doesn't mean it can't be lucrative. It actually can be.

Thank you for letting us know about your positive experiences. Sometimes people who have no experience with the subject post about negative stereotypes they have heard. Usually if the landlord is a decent person who provides the required necessities the tenants will treat them with respect.

I'd mostly agree with that pre -covid. Post-covid in DC, if you get someone who just doesn't want to pay rent, too bad for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So what exactly is the advice on social media? Just to buy units and rent to Section 8, or is there some additional hack/twist?

DP. I've seen this on TikTok as well. The 'pushers' claim that Sec 8 is easy because the govt. guarantees/pays the rent and it is typically above market. No mention of the issues others have raised here, of course.

You know what else had the full faith and credit backing of HUD, FHA insured mortgage backed securities. Do you know how that worked out?

I've seen the Tik Tok, they're also advocating for specific loan programs for Section 8. I worked for HUD, DCHFA and DCHA for years in their finance department. You want to be a section 8 developer/landlord? You cannot get rich from this. The regulations and annual requirements, as a landlord, are tedious and you have to work with HUD on a consistent basis (and that's a gamble re who there you work with). And if you decide to sell? You have to give the right of first refusal to the tenant, and many times the tenant will try to hold that up in court.

And I am not even commenting on who the tenants could be.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is all over tiktok and instagram. Does anyone here do it? Listening to these "gurus" it's an incredibly easy way to make money. It seems too good to be true.

We've done it and know others who've done it. Yes, generally speaking, rental rates are higher for section 8. You used to be able to look on the website and see the rate paid based on zipCode s. The majority of the rent is paid by the government and section 8 tenants typically stick around for years so you don't have typical turnover to deal with. You are able to select your tenant and there are some decent tenants out there. We've had two thus far over the past 15 years. The yearly inspections in DC haven't been so bad.

My advice is just because folks on dcurbanmom don't know about it, doesn't mean it can't be lucrative. It actually can be.

Thank you for letting us know about your positive experiences. Sometimes people who have no experience with the subject post about negative stereotypes they have heard. Usually if the landlord is a decent person who provides the required necessities the tenants will treat them with respect.

Wow, that is pretty naive.

[Anonymous]

I had a coworker who owned a bunch of section 8 units and he would always tell stories of having to evict non paying tenants and how they would find ways to get out of wage garnishment

[Anonymous]

You kidding me! I don't even own a home because it's not an asset always. So many homes have problems like the three properties we once owned.
The same money in the market is snowballing.
My rent is paid from investments and money left over. Find the people who decided to not own anymore and have the money from selling their homes.