section 8 housing

Does anyone know how to start investing in section 8 properties, and what Dept. handles this. Is there assistance available to acquire these properties?


Howdy Annette:

Section 8 is named after a section of the Housing and Urban Development rules or whatever. It is located in Section Eight of some giant book. It is part of HUD. It is run by the local housing authority. There is both City of Austin Housing Authority and Travis County Housing Authority in our area.

There is really no way to get started. You buy a house and find a tenant. If the tenant is on section 8 you set up an inspection to get the property to pass. It needs to be in tip top shape.

In the past there was a rental rehab program where HUD gave grants to property owners to fix up and make available to section 8 tenants or low income tenants. This was pretty much wiped out. A tax credit program is still available but costly for only a few units. I got a house and 2 duplexes approved thru the system in 94 and paid thousands to get something that I never used. I was trying to sell the tax credits but was no able to. There are also programs thru HUD loan programs for rehab but I am not sure of the status today but those too were for larger apartment properties.