Questions on Section 8

General Real Estate Investing
21
Would you reccommend renting to section 8 tenants. So how about a yes or no????

I vote yes also. Section 8 tenants are an excellect source of income. They are no different than any other tenants. I was just responding to your observation that "a lot of people have a problem with people who benefit directly from ‘entitlements’ "when we got a little off track.

Maybe I just pick better tenants.

I don’t think that I’m failing to pick the best tenants available, but rather that you just don’t have many tenants yet. As the number of tenants increase, you see things at a faster rate. It might take someone with 5 rentals 6 years to see what someone with 30 rentals would see in a year, or 20 years to see what someone with 100 rentals would see in a year. Every landlord (with a lot of units) that I know has the same problems that I encounter.

Mike

22

Just my 2 cents since I posted above. I agree that the sec8 tenants are NOT trying to get ahead. It is too easy for them to stay put. Wouldn’t it be nice if the Goverment paid our rent or mortgages? My one tenant was only paying $6 PER MONTH rent. The sect 8 paid the balance of $734 at that time(this was 8 years ago). That same unit now rents for $1150.

I disagree that they live in filth. Well, some may but we keep our property very nice and it is just below the foothills so it is in a nice area. I had no problems with the Sec8 tenants other than normal things like they would block the driveway so other tenants couldn’t get in their garages. For us they were like any other tenant.

And I vote NO - NEVER again

23

wow,

uummm, leave it to the newb, with a counseling background to bring up stuff that really has no place on the REI board…or maybe it does.

i used to like listening to Rush Limbaugh. I used to think Jesse Jackson was a two-faced,back-stabbing uncle tom. Yes I thought Jesse Jackson was an uncle tom.

Since then, I have found faith. True Faith. It has let me know that I can do anything…as long as some of what I do, or almost all of what i have gained, is given back to my fellow man.

my original comment about section 8 tenants “taking pride” in paying rent, was referenced to FAMILY SELF SUFFICIENCY clients, who are in an entirely different program, than just Section 8.

That is just a correction.

Listen, I live 35 minutes from the Bronx and Brooklyn. The projects ain’t no picnic. The people there are poor, living “off the government” and it is a damn shame. These are the forgotten people, black and white, that we donate money to at our churches and have a portion of our taxes go to, so that they may live, somewhere. The system of welfare and the dependence that has been created is a shame. But social security, medicare, medicaid and the like, are also, government hand outs that have created a sense of “comfort” (dependence) for the average hard-working american.

Anyway, I’ve stopped listening to the Radio. I don’t watch tv, Bill O’Rielly, Hannity and Colmes, Larry King etc. I do not focus my energy on who is liberal and who is conservative. I choose to push myself as hard as I can, to make myself. I make myself. I define who I am, through my faith. My faith allows me, allows me, again, it allows me to be creative, intense, and hungry to build something wonderful.

I have chosen to purchase real estate to create wealth, so that in the future, I can move on to the next level of my life. Along the way, I hope that I can help a lot of people, buy homes, rent homes and live with a roof over their head.

I’m not saying I’m going to rent to Section 8 clients. We’ll see. I’m not saying that Rush Limbaugh is good or bad. I’m not saying Jesse Jackson is good or bad. I don’t care. They are people with beliefs. They BELIEVE in something, and I respect their passion. I respect everyone’s passion on this post thread.

Now I will tend to my passion for learning about the next deal (first deal) I’m going to make on a wonderful REI.

Pray for me!

:wink:

24

If you are looking to go section 8 might as well look at ex-cons getting out of prison I rented to only them for a few years… And there are no big suprises There backgound is bad and there credit os worse… But hey if they do not pay rent back to the clink!!! And the paroll board will pay for them!! It is a much better deal it is kinda like Renting to someone with a Mommy you can call if they are not being good boys and girls!!

25

Hello fellow investors…

Wow there’s a lot of hate going on in this post. It seems like people are comparing section 8 residents to African Americans which is totally true and
not true. There are African Americans in section 8 housing but there is also
White, Chinese, Hispanic and Native Americans too. It’s not a race thing to be quite honest it’s a belief thing. There’s a lot of people that I have met on this website who started out homeless, no job, no money, getting handouts and they turned there lives around and now are worth multi-millions. Wealth and success are out there if you REALLY want it but how many people are REALLY willing to pay the price for it?

Now don’t get me wrong, I do not like giving my tax money away to someone who doesn’t want to work either but to be honest the problem won’t get solved here on this website. If you have a problem with the way our governement handles tax money then I would suggest contacting your local government and/or politician. If you still have a problem with African Americans please go to your local hate board and rant on there because that is something that YOU own inside of you and I rather not hear about how you feel about Bill Cosby or African Americans in general because ranting and raving is not going to change anything…ideas put into action changes things.

26
Wow there's a lot of hate going on in this post. It seems like people are comparing section 8 residents to African Americans which is totally true and not true.

Ridiculous! There’s no hate in this post (except that I hate having my tax dollars spent on handouts). I’m all for giving someone a hand up, but not giving perpetual handouts. No one is comparing section 8 tenants to African Americans - you just made that up! In my area of Ohio, the VAST majority (probably 95%) of Section 8 tenants are white - not black, chinese, hispanic, native american, or anything else - just simply white.

There's a lot of people that I have met on this website who started out homeless, no job, no money, getting handouts and they turned there lives around and now are worth multi-millions.

I don’t believe it! ‘There are a LOT of people on this website who started out homeless and ended up multi-millionaires’ - besides REO - WHO? A LOT of them? Ridiculous! The vast majority of homeless people never make it out of the lower class.

If you still have a problem with African Americans please go to your local hate board...

My point about the black leaders (and those of the wacko left) is that their demanding of entitlements over that past 30 years has destroyed the dream of an entire generation of young black americans and also led to the entitlement mentality that we have today for all americans. Don’t believe me, look at the statistics:

http://www.nytimes.com/2006/03/20/national/20blackmen.html?x=1300510800&en=57e0d1ceebcbc209&ei=5090&

or

http://www.globalblacknews.com/Jail.html

Does this affect us as investors? You bet it does. As the entitlement mentality grows, there will be more people trapped in poverty and therefore more Section 8 renters. As the working (middle) class is further destroyed, there will be more and more demand for people to pay taxes and you “rich” landlords and investors will be an easy target. This is already happening. Many communities right here in Ohio are finding ways to charge fees to landlords to compensate for their loss of tax revenue. If it’s happening here in Ohio, then I know it’s happening elsewhere.

Mike

27

Stupid politicians… Just like the “excessive profits tax” the Feds are talking about imposing on big oil companies, all these extra fees will wind up being ultimately paid by the consumer… as they always have.

28

See even you yourself know of one…I didn’t mean that everyone that is homeless becomes financially wealthy what I was saying was it’s a belief thing…beliefs can be changed, and REO is one of those people.

I’m not going to get into how I feel about stats.

What are you doing about “entitlements”? Are you just complaining about it or are you DOING something about it. That’s a big difference between something happening and not happening.

29

I’m always interested in Rags-to-Riches stories, does anyone care to share REO’s? It’s fascinating and a huge achievement to get out of hard times and make something happen in life!

Good Luck to Everyone!

30

http://www.reiclub.com/success-stories.php?id=67

DB

31

Thanks… I enjoyed the read.

32

I will tell you all my background! If you really want to know! It is saturday and I really have nothing better to do anyway. Was thinking about going fishing but I did that monday-friday so I was thinking about working. I did that a few years ago. So if you really want to know tell me and I will type it out for you!