Hello all. Before I bought my first deal I used to come here and read/lurk. Now I have 2 Rentals occupied by Section 8 tenants and I will tell you no problems as of yet. One of my homes you can practically eat of the floors and they are subsidized by Sec8. Their portion of rent is always on time as well. I like going to collect their portions of rent cause it gives me an opportunity to see whats going on at my house.
Key is to Screen Them. You do not have to accept just anyone with Sec. 8. To the contrary, it is encouraged by the Housing Authority here in the areas I am in (LI NY) to screen prospective tenants for suitability as tenants.
And I am going into contract with a partner as I write this on a legal 2 family with 2 3 bedroom apartments.
Once my 12 month plan is in place with this deal and we occupy the home with Sec 8. tenants it will cash flow almost $700.00! That’s a tough deal to put together here in NY so I am rather thankful that after a week of squeeze plays its going to paper.
Good luck to all!
Regards,
Mike G