I agree with most of what you're saying. I've had rentals with Section 8 for some 25 years.............I presently have three. I differ from what you say concerning Section 8 paying more than market rate. Through the years on an initial rental I've had the Section 8 representative ask me to LOWER my asking rent. Recently though I have a tenant who acts like she owns the place and will let me see the property on her own terms. Instead of evicting her I requested a $1000 a month increase in rent and it was approved. You mention property managers. I've had some over the years and the ones I've had were worthless, all they want is to collect the rent , collect their share and send you the rest. One of my rentals rents for $2500 a month........why should I pay a property manager $200 a month (standard percentage of 8%. What I recommend is to have a good handyman who will do any repair for you. You can even give your tenant(s) his phone number. Have an agreement with the handyman to do repairs up to a certain amount.........if over that amount he must contact you. One more thing have your rentals within a certain geographical area of where you reside.
I suggest you become less emotional about and just look at it like a business. Its your house you can set appointments for when you want to make a inspection. Fire property managers until you find one you like. Being a landlord is the worst job so cut it out of your life completely.
"Guranteed money" until its not, vocher holders can lose their sec 8 for violations or it can be reduced if their income grows or part of their family moves out, ages out. Then your stuck with a tenant that can't afford the rent. Sec 8 don't pay deposits, non profits will sometimes pay for deposits, but then you have a tenant with no skin in game. They have no money, so they are judgement proof, if they damage the place. When you rent to people who have money challenges, every money problem becomes the landlords problem. If you play with fire your eventually going to get burned.
If they don’t qualify, you get another tenant that does. People ruining properties or leaving early is not mutual exclusive to S8… it’s literally guaranteed money that’s not arguable
Questions: -if I buy a home and get it into the Section 8 program, am I obligated to keep it in the program for a certain amount of time? -Am I obligated to renew a tenant if they wish to renew their lease?
I ran a sober living home, one of my reasons for closing was tenants had a hard time affording full rent as they were on SSi. Are you familiar with co -iving units and using Section 8? What kind of restrictions are on tenants so you do not get left high and dry should they relapse or not pay? Do they have any boundaries that can be placed on them such as No Drugs or Alcohol on premises? If violated what can be done?
In certain California counties, the timeline for obtaining Section 8 assistance can be quite lengthy. First, applicants must wait for the waiting list to open, which can take several years. Even after being placed on the waiting list, individuals may remain in a "pending" status for over four years before being selected for a voucher. Following selection, it can take an additional one to two years for the voucher to be issued. Therefore, the entire process, from waiting for the list to open to receiving the Section 8 voucher, can take approximately 8 to 10 years. It's understandable that Section 8 tenants will strive to maintain their vouchers and be exemplary tenants in many instances.
I am in THE weirdest situation that I’ve ever been in my life… I have been in the apartment for 12 years on section 8 and my contract ends every year on April 30. On 4/14/23 my landlord handed me a slip of paper saying that she was not renewing my lease and that I had to be out by the end of May… but then she came to my door on 04/17/23 and handed me the updated Section 8 contract addendum that is valid until 4/30/24 and we had all previously signed it so it was all legitimate. I went ahead and turned in the new contract to Housing and then I started realizing that this was really confusing because the landlord first gave me notice to move and then signed another contract with section 8, (until 4/24) so I called my local Housing Authority and they told me that if I do not move that I will get an eviction notice and if I get an eviction notice that I lose my voucher… everything I read in my original section 8 contract has stated that the landlord is to notify Housing Authority in writing that THEY are ending the lease but then when she turned around and signed another contract, it’s my assumption that I would be good for another year? My head is spinning and I’m going to end up homeless because Housing tells me that it’s up to me to sign a notice to vacate and I refuse to do it because then if I can’t be out in time I have no way to defend myself and landlord has given NO reason for wanting to break this new contract… I believe this is retaliation because I had to report them to Housing for disgusting mold that was growing when the maintenance man broke a water pipe. I don’t know what my rights are but this program has so many holes in it and this is why people end up homeless because the local Housing Authority even put in my contract that the landlord has to give notice but now they’re telling me she doesn’t have to and I will be evicted. Wth nonsense is this and what kind of game are they playing that’s going to put people in the streets? Seems to me that everything favors the landlord and the tenants have no rights whatsoever…hopefully you treat your tenants fairly 😅
@@coryfrisk571 Well it sure seems that in the HUD regulations that the landlord definitely has to give reason for nonrenewal but the local housing seems to think that I will lose my voucher if the landlord tries to evict me…plus housing wants me to sign a notice to vacate (which I am NOT signing!) Everything I read says I have a right to a hearing before losing my voucher so I’m standing my ground.. I’m going to attempt to challenge any eviction notice in court and just hope I can prove that proper procedure was not followed. The fact that It seems to be retaliation is a whole other issue so it’s quite the mess…Thank you for your input!
I'm in the same boat I moved and house didn't pass local housing authority no help scared to death 62 in a wheelchair terrified praying for you good luck
@@carolynbrace8821 Look up what regional office is in charge of your local housing authority…it’s according to what state and county you live in and each region of the state has a different office. I went through the HUD website and called any number that was listed and left messages, I emailed the lower level directors in my state and because I have made those connections, HUD regional office contacted my local office here and for now I’m still in my home… apparently the local housing came up with a verbal agreement with my landlord to give me until 06/30/23 but they still have not issued me a voucher and the local Housing Authority gave me nothing in writing to verify so I have no protection if the landlord sticks an eviction notice on my door… They have to do more than give me a verbal agreement. I ended up getting referred to a woman that was in charge of a regional office in another state (she’s involved in tenant rights) and she called me Friday and told me she has referred my info to the Director of HUD…they are closed for memorial day but she told me that they will reach out to me and she agreed with me that they did not follow the legal process… there is hope and we have to keep pushing. Most of these local Housing Authority employees do NOT understand all the regulations and even the atty at Legal Aid is completely clueless as to how these programs work and even if I have to end up being displaced I am not letting go of this… I’m not going through to allow this to happen to someone else. It has affected my stress which has caused my health problems to worsen and I completely empathize with you because the system is generally designed to protect the landlords best interest but you have rights! Try to call your regional office and bug them like crazy and don’t stop calling… you can find an email address and send them emails explaining your situation, so don’t stop until someone gets back to you. That’s what it takes because there are so many cases of wrongful termination through the Housing Authority and only way to get anything done is to contact HUD…They have even referred my case to Washington DC to be invested, well I’m very hopeful. If it’s difficult for you to make those phone calls maybe you have a family member or someone that can help you reach out…Keep track of the names of anyone you speak to and the time and day that they call and it’s overwhelming but that’s the only way I made any progress. Hang in there and please don’t give up…I’m so sorry that you’re dealing with this!
@@carolynbrace8821 I believe they do income approval, rent amount and the unit has to pass inspection BEFORE they give you the voucher and approval to move in. I’m not sure what they did there but I Was just thinking about that after I left the previous comment… you should’ve never been given Approval to acquire the unit if they did not follow that process. Sounds to me like they did not explain how the voucher program works nor did they follow the policy
Sorry to say that the deposit is the Responsibility of the tenant… first months rent will be paid by section 8 if you do your voucher in the proper timeline on a move, but as far as I know they do not pay last months rent.
I think it depends on where you are. I applied in 2019 and things went a little left I ended up in a shelter and within 10 months I was approved. I'm not saying drop everything and go to a shelter but I do think that they put the homeless at the top of the list. Then again I heard that it was like a lottery drawing they put a bunch of people's names in a bucket and whoever they pick just happens to get lucky and get approved.
Section 8 is good for cashflow but you won't be able to sell at market price unless there are other investors willing to buy and they'll only buy at a huge discount. Or you can unethically kick out the tenant and then sell to regular buyers, but it's easier said than done.
Awesome video. Do you do this remotely? How do you find a trustworthy inspector that will find issues to make sure you don't get hit with a HUGE repair out of nowhere?
What happens if the landlord goes up on the rent and the housing doesn't approve the increase? Or if the payment standard goes up and back down according to market?
The landlord CAN raise the rent at the end of the lease/contract, when you renew for another year but they CANNOT raise rent in the middle of the contract. When you do your recertification, They can put the new rent amount on the tenancy addendum and if it’s approved via section 8, but you are not in agreement with the new amount then you will have to choose another option on a place to live.
I'm all over Cleveland Ohio, Memphis Tennessee, Detroit and a whole bunch of others and NO WAY do I self manage. You should be all about passive income. I have property managers for each of these rentals EVERYWHERE.
Hey I have sect8 voucher now been living in a 3k a month apartment I only pay $250. But I'm good quiet Tennant but here's why I'm looking to move because my disabilities are worsening and I want to move back to Florida from Tennessee because TN refuses medical treatment I got cancer masses on my liver and only my Dr's back in florida can will do something here in tennessee I'm told go home rub some dirt in it take a tylenol and deal with it. I'm in pain Anxiety scared overwhelmed TN oncology pain management dossent do pain management. So I have a sect8 voucher good for absorption to another. If have any advice where can I go in or around palm beach / lake worth florida that's where my Dr's in FL are and want to get these masses removed imidatly. I'm ready to move now.
Enjoyed the video! Quick question, I know Kiavi raised their minimums for fix and flip loans, I was wondering if you know anyone with sub 50-75k minimums?
If section 8 pays only a part of the rent the other part the renters are responsible for what’s a tip to ensure you won’t have issues with the other part of the rent any tips info appreciated 🙏
You said most section 8 tenants stay in one place for about 7 years due to the 1.5-2 year waiting list to get back on, but did you also mean to say that it's too hard to for them to find another place? I have future concerns as a new voucher recipient and don't see myself staying in my future unit I found for more than 1-2 years. I took it based on the land lord having an eviction coming up, as the wait was only a convenience for them, and thought hmm?? Who else will I call that accepts the voucher, without the competition of cash customers?? And I realize the eviction coming up wasn't the only factor. They prefer section 8, but voucher holders mostly assume they're speaking with someone who just accepts it opposed to prefers it. That's the hardest detail to overcome. And if anyone has tips for targeting landlords that prefer section 8, please LMK. Edit: ah, I just noticed you were being specific about tentants staying for 7 years, when it's a desirable enough place so that gives me hope that I won't feel stuck at the place I found. So the only advice I want is how to target land lords that prefer section 8 in order to avoid cash customer competition. PS: What a joke how they require the property is empty for the first inspection when it doesn't need to be for the annual ones. If you're lucky enough to find a landlord that lets you secure a place with a full rent payment, until the Section 8 kicks in, they have to also empty the unit prior to the inspection. Next time I search, so long as they are a private landlord, I'll be suggesting a contract to pay the full amount until the inspection date and who knows if they'll be willing, but I can't see why not, as I'll be targeting duplex homes where I can move my stuff out into the garage/back yard for the inspection Totally worth it to get in a place that you could accept being at close to 7 years.
Is FMV for a 2 BR house the same as a 2 BR apartment? In TN, Sec 8 rental rates are much cheaper than current FMV of non-section 8 rentals which is why so many owners aren't wanting to get involved. I'm on the fence.
Thank you for the insight. Are your properties ranch's or 2 story houses as well? Also, can a tenant get kicked out for not paying their share of the rent? Thank you so much in advance
Antonie Thanks for the info. Looking at HUD's rents in my area they show the rents they paid in 2023 and then show the 2024 rent. Do they increase that amount yearly to the landlord. Also the amout they show is that what they will pay without the tenant paying anything? Or is that the totlal rent you can charge with HUD paying something and the tenant paying the rest? Thanks Bill
With a 3 decker property I own, I was planning on renting out 2 out of the 3 apartments to section 8 voucher holders, eventually. Is this possible? Perhaps rent out 1 out of the 3 to section 8 voucher holder at 1st and if things go good in the near future rent out the second apartment. My biggest fear is getting into a back and forth with a lazy tenant who knows how to play the system.
1 am a section 8 tenant I'm still waiting for my house to pass been three months I am a nervous wreck and broke I must pay all till it passes lived in a duplex 15 years on sect 8 4 of that moved to a house my trouble isn't my land Lord it's my local housing authority not processing my papers
Thanks for the video. After the lease is up after a year. If they're section 8 can tenant leave or am I stuck with them because they're section 8. And if they damage property, does government pay?
Gov does not pay for damaged properties. That's why there are so few Section 8 rentals in society. You really have to screen people on thier credit scores,how many places they rented out before you etc... And I would check the property every month to make sure there are no "other people" living there illegally etc...
Hi my name is MssRivera looking for rental to help me relocate naperville illinois looking for a 2bedroom condo apartment looking forward to hearing from you thank you
I was just issued a housing choice voucher I currently live in public housing, which was converted to private under the Pact program. I’m still living in public housing whereas my rent is 30% of my income. I would like to know if you can assist me in finding a section 8 apartment. Perhaps a subsidize section 8, which is equivalent to what I currently have.
Yes… renewed annually and your local housing authority Should send you notice that it’s time to recertify. My contract ends every year on 40/30, so they generally send me the new paperwork in January and that gives a couple months to get everything turned in on time…the Unit will have to pass another inspection every year and they will reevaluate your income each contract term
Cleveland Ohio section 8 did inspection and ass unit despite stairs falling apart banister coming off windows oh my goodness the don't take safety or the person staying. There anymore
In regard to you saying gov is begging you to become section 8 landlord is myth from a personal experience. I only wish that was the case. I call the number beginning myself just to learn about it and how and where to start and I just get run around from place to place, just like with any state offices. No set guidance for new landlords, not even on their websites. The gov employees don’t seem to even care which is discouraging and I’m about to give up
In Massachusetts and I had to wait 16 1/2 years to get my voucher. They give you 60 days eight days into having an expiration. It’s totally unfair. I am LIVID!!!
Landlords who rent to Section 8 have apartments in the worst neighborhoods and treat market rent tenants quite well. If a section 8 tenant has something such as a stove, a landlord will give you another one that they wouldn't think of giving a market rate renter. No landlord would give a market rate tenant something that's filthy and in poor condition and doesn't work properly. Section 8 tenants have their rents raised twice. Housing will allow it even if that means the Section 8 tenant has to cut back on something such as food. It can get so bad that the person can't afford their co pays for prescription medication. Some landlords will go so far as to lie so they can keep a Section 8 tenants security deposit. So the landlords can reap in the benefits of accepting Section 8 tenants and housing will have the landlords back.
i love my apartment program it pays higher rent then section 8 garbage and my program pays for my security deposit every time i move thanks to my fantastic apartment program i live in a new 1400 dollar apt the fantastic arabs in usa rented me i love my new apt new fridge new stove central ac central heat no bugs everything works u have to have mentall illness to be in my apartment program i had section 8 years ago it was a nightmare 2 white middle class landlords rented me unlivable and severe health hazard apts i gave up secetion 8 and left the program im a happy poor white disabled american
Under Section 8 YOU are not providing housing for low income people. Hard working American taxpayers like ME are providing that housing through our taxes.
Other people owe me everything. I want someone who is working 2 jobs to support my life style. Free housing, free food, free education. I sleep until noon. I got 3 baby mamas to visit.
I am a section 8 tenant 62 years old retired after a career did I mention I waited 7 years for years for it or that I have cerebral palsy? How judgmental you are God bless hope you aren't a landlord
@@carolynbrace8821 Greetings Carolyn : I appreciate how difficult your situation is. You do deserve assistance. I am a landlord & no longer can I afford to accept section 8. Unfortunately, a significant portion of section 8 tenants have an" I am entitled" attitude and trash the place. Many on government relief programs are not like you. .BTW, I am not uncharitable--my wife & I sponsor a charity in Central America that benefits blind children The people there are so appreciative of help- they don't feel entitled like many Americans. All the best to you.
@@paulbrungardt9823 dear Paul sorry you had bad experiences I stayed 15 years in my last duplex when it was sold I started saving to move owner bought a wheelchair acessable HOUSE. WITH me in mind I paid to paint the inside walls and ceilings land Lord finished the floors if. You are a section 8 tenant and read this get a clue get gratitude list buy a scrub brush the condition of one's home says a lot about you it's about self respect
Section 8 people stick out like a sore thumb. I move into a neighborhood for a reason. You start bringing in Section 8 people, I will leave ASAP. You can rent that unit to section 8 people. Bye.
I agree with most of what you're saying. I've had rentals with Section 8 for some 25 years.............I presently have three. I differ from what you say concerning Section 8 paying more than
market rate. Through the years on an initial rental I've had the Section 8 representative ask me to LOWER my asking rent. Recently though I have a tenant who acts like she owns the place
and will let me see the property on her own terms. Instead of evicting her I requested a $1000 a month increase in rent and it was approved. You mention property managers. I've had some
over the years and the ones I've had were worthless, all they want is to collect the rent , collect their share and send you the rest. One of my rentals rents for $2500 a month........why should I pay a
property manager $200 a month (standard percentage of 8%. What I recommend is to have a good handyman who will do any repair for you. You can even give your tenant(s) his phone number.
Have an agreement with the handyman to do repairs up to a certain amount.........if over that amount he must contact you. One more thing have your rentals within a certain geographical area
of where you reside.
I suggest you become less emotional about and just look at it like a business. Its your house you can set appointments for when you want to make a inspection. Fire property managers until you find one you like. Being a landlord is the worst job so cut it out of your life completely.
Thank you
Thank you. Great info…Can you give some more advice?
What areas?
@@Hshjshshjsj72727 I keep my rentals withing a hundred miles of where I live. Two hours and I'm there.
"Guranteed money" until its not, vocher holders can lose their sec 8 for violations or it can be reduced if their income grows or part of their family moves out, ages out. Then your stuck with a tenant that can't afford the rent. Sec 8 don't pay deposits, non profits will sometimes pay for deposits, but then you have a tenant with no skin in game. They have no money, so they are judgement proof, if they damage the place. When you rent to people who have money challenges, every money problem becomes the landlords problem. If you play with fire your eventually going to get burned.
If they don’t qualify, you get another tenant that does. People ruining properties or leaving early is not mutual exclusive to S8… it’s literally guaranteed money that’s not arguable
@@michaelgraham8018 how do you make sure they don't ruin the property?
You can’t make sure no one ruins your property section 8 or not.
they have the incentive to not destroy the property because they can lose their voucher@@noahd2235
Curious. How does a non profit pay for a deposit and why would they? And what type of non profit??
Questions:
-if I buy a home and get it into the Section 8 program, am I obligated to keep it in the program for a certain amount of time?
-Am I obligated to renew a tenant if they wish to renew their lease?
It renews every year through the section 8 office itself.
Great video! I've been searching for some really straight forward videos on Section 8! Thanks Antoine!
thank you Jeremy!
SO what happens if a tenant loses their voucher? Do you have to evict, or what?
I ran a sober living home, one of my reasons for closing was tenants had a hard time affording full rent as they were on SSi. Are you familiar with co -iving units and using Section 8? What kind of restrictions are on tenants so you do not get left high and dry should they relapse or not pay? Do they have any boundaries that can be placed on them such as No Drugs or Alcohol on premises? If violated what can be done?
I watched 4 videos. You make perfect sense.
thank you
In certain California counties, the timeline for obtaining Section 8 assistance can be quite lengthy. First, applicants must wait for the waiting list to open, which can take several years. Even after being placed on the waiting list, individuals may remain in a "pending" status for over four years before being selected for a voucher. Following selection, it can take an additional one to two years for the voucher to be issued. Therefore, the entire process, from waiting for the list to open to receiving the Section 8 voucher, can take approximately 8 to 10 years. It's understandable that Section 8 tenants will strive to maintain their vouchers and be exemplary tenants in many instances.
agreed
Does anyone has experience with Section 8 - Detroit Housing Commission (DHC). What are the pros and cons?
is my home stuck as a section 8 home once i go section 8? or can I eventually convert it back to a regular free market home?
oh god so that's probably what's wrong with my last apartment
U can change back...very easily...an eviction take 30 days super easy
Depends on ur state. I just evicted a family in Colorado and it is a 90 day minimum process
I am in THE weirdest situation that I’ve ever been in my life… I have been in the apartment for 12 years on section 8 and my contract ends every year on April 30. On 4/14/23 my landlord handed me a slip of paper saying that she was not renewing my lease and that I had to be out by the end of May… but then she came to my door on 04/17/23 and handed me the updated Section 8 contract addendum that is valid until 4/30/24 and we had all previously signed it so it was all legitimate. I went ahead and turned in the new contract to Housing and then I started realizing that this was really confusing because the landlord first gave me notice to move and then signed another contract with section 8, (until 4/24) so I called my local Housing Authority and they told me that if I do not move that I will get an eviction notice and if I get an eviction notice that I lose my voucher… everything I read in my original section 8 contract has stated that the landlord is to notify Housing Authority in writing that THEY are ending the lease but then when she turned around and signed another contract, it’s my assumption that I would be good for another year? My head is spinning and I’m going to end up homeless because Housing tells me that it’s up to me to sign a notice to vacate and I refuse to do it because then if I can’t be out in time I have no way to defend myself and landlord has given NO reason for wanting to break this new contract… I believe this is retaliation because I had to report them to Housing for disgusting mold that was growing when the maintenance man broke a water pipe. I don’t know what my rights are but this program has so many holes in it and this is why people end up homeless because the local Housing Authority even put in my contract that the landlord has to give notice but now they’re telling me she doesn’t have to and I will be evicted. Wth nonsense is this and what kind of game are they playing that’s going to put people in the streets? Seems to me that everything favors the landlord and the tenants have no rights whatsoever…hopefully you treat your tenants fairly 😅
The owner of the property has to renew your lease unless they have a legitimate reason not to
@@coryfrisk571 Well it sure seems that in the HUD regulations that the landlord definitely has to give reason for nonrenewal but the local housing seems to think that I will lose my voucher if the landlord tries to evict me…plus housing wants me to sign a notice to vacate (which I am NOT signing!) Everything I read says I have a right to a hearing before losing my voucher so I’m standing my ground.. I’m going to attempt to challenge any eviction notice in court and just hope I can prove that proper procedure was not followed. The fact that It seems to be retaliation is a whole other issue so it’s quite the mess…Thank you for your input!
I'm in the same boat I moved and house didn't pass local housing authority no help scared to death 62 in a wheelchair terrified praying for you good luck
@@carolynbrace8821 Look up what regional office is in charge of your local housing authority…it’s according to what state and county you live in and each region of the state has a different office. I went through the HUD website and called any number that was listed and left messages, I emailed the lower level directors in my state and because I have made those connections, HUD regional office contacted my local office here and for now I’m still in my home… apparently the local housing came up with a verbal agreement with my landlord to give me until 06/30/23 but they still have not issued me a voucher and the local Housing Authority gave me nothing in writing to verify so I have no protection if the landlord sticks an eviction notice on my door… They have to do more than give me a verbal agreement. I ended up getting referred to a woman that was in charge of a regional office in another state (she’s involved in tenant rights) and she called me Friday and told me she has referred my info to the Director of HUD…they are closed for memorial day but she told me that they will reach out to me and she agreed with me that they did not follow the legal process… there is hope and we have to keep pushing. Most of these local Housing Authority employees do NOT understand all the regulations and even the atty at Legal Aid is completely clueless as to how these programs work and even if I have to end up being displaced I am not letting go of this… I’m not going through to allow this to happen to someone else. It has affected my stress which has caused my health problems to worsen and I completely empathize with you because the system is generally designed to protect the landlords best interest but you have rights! Try to call your regional office and bug them like crazy and don’t stop calling… you can find an email address and send them emails explaining your situation, so don’t stop until someone gets back to you. That’s what it takes because there are so many cases of wrongful termination through the Housing Authority and only way to get anything done is to contact HUD…They have even referred my case to Washington DC to be invested, well I’m very hopeful. If it’s difficult for you to make those phone calls maybe you have a family member or someone that can help you reach out…Keep track of the names of anyone you speak to and the time and day that they call and it’s overwhelming but that’s the only way I made any progress. Hang in there and please don’t give up…I’m so sorry that you’re dealing with this!
@@carolynbrace8821 I believe they do income approval, rent amount and the unit has to pass inspection BEFORE they give you the voucher and approval to move in. I’m not sure what they did there but I Was just thinking about that after I left the previous comment… you should’ve never been given Approval to acquire the unit if they did not follow that process. Sounds to me like they did not explain how the voucher program works nor did they follow the policy
What about deposit first and last month rent do they pay for that also
Sorry to say that the deposit is the Responsibility of the tenant… first months rent will be paid by section 8 if you do your voucher in the proper timeline on a move, but as far as I know they do not pay last months rent.
wow i wish that was all i had to wait i applied when my son was born in 1999 and didnt make it to the top to get a voucher until 2009 it took 10 years
wow
Yup! I’ve been on the list in for 10 years and I was told I’m # 1,734 on the list. 🙄
I think it depends on where you are. I applied in 2019 and things went a little left I ended up in a shelter and within 10 months I was approved. I'm not saying drop everything and go to a shelter but I do think that they put the homeless at the top of the list. Then again I heard that it was like a lottery drawing they put a bunch of people's names in a bucket and whoever they pick just happens to get lucky and get approved.
Same! I applied in 2014 when my twins were born and we just got accepted March 2024
Yeah, I don’t know what this guy is talking about one to two years lol
Section 8 is good for cashflow but you won't be able to sell at market price unless there are other investors willing to buy and they'll only buy at a huge discount. Or you can unethically kick out the tenant and then sell to regular buyers, but it's easier said than done.
Awesome video. Do you do this remotely? How do you find a trustworthy inspector that will find issues to make sure you don't get hit with a HUGE repair out of nowhere?
Thank you for this info bro ! Looking into section 8 !
Glad it was helpful!
Pros: best long term rental for many reasons
Cons: You'll have to keep it in shape to last you even longer.
What happens if the landlord goes up on the rent and the housing doesn't approve the increase? Or if the payment standard goes up and back down according to market?
Land lord can't raise rent on section 8 unless, they pay the difference.
The landlord CAN raise the rent at the end of the lease/contract, when you renew for another year but they CANNOT raise rent in the middle of the contract. When you do your recertification, They can put the new rent amount on the tenancy addendum and if it’s approved via section 8, but you are not in agreement with the new amount then you will have to choose another option on a place to live.
What markets have you found to be good? Do you self manage?
I'm all over Cleveland Ohio, Memphis Tennessee, Detroit and a whole bunch of others and NO WAY do I self manage. You should be all about passive income. I have property managers for each of these rentals EVERYWHERE.
@@martelantoine what's your process for finding a good manager?
Great video! Can Foreign Investor do Section 8 using DSCR or Asset based loan?
Hey I have sect8 voucher now been living in a 3k a month apartment I only pay $250. But I'm good quiet Tennant but here's why I'm looking to move because my disabilities are worsening and I want to move back to Florida from Tennessee because TN refuses medical treatment I got cancer masses on my liver and only my Dr's back in florida can will do something here in tennessee I'm told go home rub some dirt in it take a tylenol and deal with it. I'm in pain Anxiety scared overwhelmed TN oncology pain management dossent do pain management. So I have a sect8 voucher good for absorption to another. If have any advice where can I go in or around palm beach / lake worth florida that's where my Dr's in FL are and want to get these masses removed imidatly. I'm ready to move now.
reach out to your local section 8 department
Great video. I like the last thing you mentioned about talking to other landlords/investors in section 8, how to you find them? Lol
Facebook groups
look in the barrel of your shotgun
What market is ideal and which should u stay clear of .. I’m in Southern California. Rents are high .. so sure if it’s a good market ?
Which states are your top 5 to invest with Section 8?
new video just came out about that
I agree with the inspection part
Love it
Enjoyed the video! Quick question, I know Kiavi raised their minimums for fix and flip loans, I was wondering if you know anyone with sub 50-75k minimums?
lima one!
Infinite games at its finest and you’re helping people while you’re at it
If section 8 pays only a part of the rent the other part the renters are responsible for what’s a tip to ensure you won’t have issues with the other part of the rent any tips info appreciated 🙏
Make sure you vet the tenants well.
You said most section 8 tenants stay in one place for about 7 years due to the 1.5-2 year waiting list to get back on, but did you also mean to say that it's too hard to for them to find another place?
I have future concerns as a new voucher recipient and don't see myself staying in my future unit I found for more than 1-2 years.
I took it based on the land lord having an eviction coming up, as the wait was only a convenience for them, and thought hmm?? Who else will I call that accepts the voucher, without the competition of cash customers??
And I realize the eviction coming up wasn't the only factor. They prefer section 8, but voucher holders mostly assume they're speaking with someone who just accepts it opposed to prefers it.
That's the hardest detail to overcome.
And if anyone has tips for targeting landlords that prefer section 8, please LMK.
Edit: ah, I just noticed you were being specific about tentants staying for 7 years, when it's a desirable enough place so that gives me hope that I won't feel stuck at the place I found. So the only advice I want is how to target land lords that prefer section 8 in order to avoid cash customer competition.
PS: What a joke how they require the property is empty for the first inspection when it doesn't need to be for the annual ones. If you're lucky enough to find a landlord that lets you secure a place with a full rent payment, until the Section 8 kicks in, they have to also empty the unit prior to the inspection.
Next time I search, so long as they are a private landlord, I'll be suggesting a contract to pay the full amount until the inspection date and who knows if they'll be willing, but I can't see why not, as I'll be targeting duplex homes where I can move my stuff out into the garage/back yard for the inspection
Totally worth it to get in a place that you could accept being at close to 7 years.
What's the most you can charge for section 8?
I’m on section8 can I lose it by saving too much money or by buying too much stocks???
Sure can
Is FMV for a 2 BR house the same as a 2 BR apartment? In TN, Sec 8 rental rates are much cheaper than current FMV of non-section 8 rentals which is why so many owners aren't wanting to get involved. I'm on the fence.
how can I know how much I can get paid per month on my property (by section 8 and not the tenant) if I rent it out to section 8? Thank You!
you can't know until you get applications
Thank you for the insight. Are your properties ranch's or 2 story houses as well? Also, can a tenant get kicked out for not paying their share of the rent? Thank you so much in advance
Yes and yes
Some you have to wait five years.
Thank you for the info.
thanks for watching
Antonie
Thanks for the info. Looking at HUD's rents in my area they show the rents they paid in 2023 and then show the 2024 rent. Do they increase that amount yearly to the landlord. Also the amout they show is that what they will pay without the tenant paying anything? Or is that the totlal rent you can charge with HUD paying something and the tenant paying the rest?
Thanks
Bill
With a 3 decker property I own, I was planning on renting out 2 out of the 3 apartments to section 8 voucher holders, eventually. Is this possible? Perhaps rent out 1 out of the 3 to section 8 voucher holder at 1st and if things go good in the near future rent out the second apartment. My biggest fear is getting into a back and forth with a lazy tenant who knows how to play the system.
Thanks for the video. How long average would you say it takes for a property to be approved for section 8 housing? Thanks again.
1 am a section 8 tenant I'm still waiting for my house to pass been three months I am a nervous wreck and broke I must pay all till it passes lived in a duplex 15 years on sect 8 4 of that moved to a house my trouble isn't my land Lord it's my local housing authority not processing my papers
I wonder if people just go buy another property when they rent out their house? And do you have to include any utilities in the section 8 agreement?
Thanks for the video. After the lease is up after a year. If they're section 8 can tenant leave or am I stuck with them because they're section 8. And if they damage property, does government pay?
Gov does not pay for damaged properties. That's why there are so few Section 8 rentals in society. You really have to screen people on thier credit scores,how many places they rented out before you etc... And I would check the property every month to make sure there are no "other people" living there illegally etc...
As someone who lives in Canada how would I be able to learn from you and buy my first section 8?
I had to sub. great info
Is section 8 income taxable?
ALL INCOME IS TAXABLE!!!
@@julieludwig8927child support received is not taxable
thats not income.
yes it is.
Do I have to own my home?
No you don't
Not sure why everyone isnt doing this. Literally the best way to get rich
because if everybody is in on it, the value rises, or the supply is exhausted, which makes it impossible to "do this".
Drama...thats why
Do you have any property management company in Cleveland that you recommend?
Hi my name is MssRivera looking for rental to help me relocate naperville illinois looking for a 2bedroom condo apartment looking forward to hearing from you thank you
U need to go back to school
I was just issued a housing choice voucher I currently live in public housing, which was converted to private under the Pact program. I’m still living in public housing whereas my rent is 30% of my income. I would like to know if you can assist me in finding a section 8 apartment. Perhaps a subsidize section 8, which is equivalent to what I currently have.
I am a wholesaler in Ga, FL, TX, TN, and NC. Would you be interested in any properties to buy? I can find deals anywhere.
Maybe, thaddeaus, DM me on IG
I’m interested. What’s your contact info?
The lease is renewed annually by section 8, correct ?
Yes… renewed annually and your local housing authority Should send you notice that it’s time to recertify. My contract ends every year on 40/30, so they generally send me the new paperwork in January and that gives a couple months to get everything turned in on time…the Unit will have to pass another inspection every year and they will reevaluate your income each contract term
I've been living in my apartment for 11 years now 😊
Awesome
Good information ℹ️👍🏾
thank you!
Thank you
Cleveland Ohio section 8 did inspection and ass unit despite stairs falling apart banister coming off windows oh my goodness the don't take safety or the person staying. There anymore
got it
Good Info!
Glad it was helpful!
this was great!
Can I pay you monthly for 1 on 1 coaching?
Thank you!
you’re weldome
In regard to you saying gov is begging you to become section 8 landlord is myth from a personal experience. I only wish that was the case. I call the number beginning myself just to learn about it and how and where to start and I just get run around from place to place, just like with any state offices. No set guidance for new landlords, not even on their websites. The gov employees don’t seem to even care which is discouraging and I’m about to give up
you tried to call the government to get information about being a section 8 landlord?
@ the local dept of housing authority
fire input
thank you!
Is it true you can charge extra for appliances, storage lawn care etc? I’ve heard there’s a couple loopholes
Can Canadians do this?
Yes they can, why not?
It's "strict".
yes
Later I got some work I have to do
Nice
In Massachusetts and I had to wait 16 1/2 years to get my voucher. They give you 60 days eight days into having an expiration. It’s totally unfair. I am LIVID!!!
*best way to make money in this economy is to have an easily supply-limited asset that you probably won't be able to buy because of market saturation*
not the case
Lol it’s not over market rate.
I bet you really tried to think on those cons, still don't even sound like cons, section 8 is where it
s at.
More like 8 years now
nice
Landlords who rent to Section 8 have apartments in the worst neighborhoods and treat market rent tenants quite well. If a section 8 tenant has something such as a stove, a landlord will give you another one that they wouldn't think of giving a market rate renter. No landlord would give a market rate tenant something that's filthy and in poor condition and doesn't work properly. Section 8 tenants have their rents raised twice. Housing will allow it even if that means the Section 8 tenant has to cut back on something such as food. It can get so bad that the person can't afford their co pays for prescription medication. Some landlords will go so far as to lie so they can keep a Section 8 tenants security deposit. So the landlords can reap in the benefits of accepting Section 8 tenants and housing will have the landlords back.
Land Lords are cringe, get off your moral high horse. Literally part of the housing crises problem. smh
Ur a 🤡
Ok loozer
Strict ( rules) not Strick.. 😩 ughhh .... oh brotha 😩
nice
LTG brought me here
Whats LTG
@martelantoine low tier god
i love my apartment program it pays higher rent then section 8 garbage and my program pays for my security deposit every time i move thanks to my fantastic apartment program i live in a new 1400 dollar apt the fantastic arabs in usa rented me i love my new apt new fridge new stove central ac central heat no bugs everything works u have to have mentall illness to be in my apartment program i had section 8 years ago it was a nightmare 2 white middle class landlords rented me unlivable and severe health hazard apts i gave up secetion 8 and left the program im a happy poor white disabled american
I will only rent section 8.
Under Section 8 YOU are not providing housing for low income people. Hard working American taxpayers like ME are providing that housing through our taxes.
i see
i thank god i am not the working poor in usa
Nice
I do not accept section 8 regardless.
Other people owe me everything. I want someone who is working 2 jobs to support my life style. Free housing, free food, free education. I sleep until noon. I got 3 baby mamas to visit.
I am a section 8 tenant 62 years old retired after a career did I mention I waited 7 years for years for it or that I have cerebral palsy? How judgmental you are God bless hope you aren't a landlord
@@carolynbrace8821 Greetings Carolyn : I appreciate how difficult your situation is. You do deserve assistance. I am a landlord & no longer can I afford to accept section 8. Unfortunately, a significant portion of section 8 tenants have an" I am entitled" attitude and trash the place. Many on government relief programs are not like you. .BTW, I am not uncharitable--my wife & I sponsor a charity in Central America that benefits blind children The people there are so appreciative of help- they don't feel entitled like many Americans. All the best to you.
@@paulbrungardt9823 dear Paul sorry you had bad experiences I stayed 15 years in my last duplex when it was sold I started saving to move owner bought a wheelchair acessable HOUSE. WITH me in mind I paid to paint the inside walls and ceilings land Lord finished the floors if. You are a section 8 tenant and read this get a clue get gratitude list buy a scrub brush the condition of one's home says a lot about you it's about self respect
You don't know the reality of so many people's lives - I wonder why you are so bitter?
There are working people on section8. Stfu dude.
4:33 bro shush nobody cares about that BS, I just want my money
Nice
Section 8 people stick out like a sore thumb. I move into a neighborhood for a reason. You start bringing in Section 8 people, I will leave ASAP. You can rent that unit to section 8 people. Bye.
Later I got some work I have to do
nice