Real Estate Investor · cleveland, OH · Member since 2010 · 80 posts · 16 votes
I specialize in section 8 rentals in the Cleveland, Ohio area. The easiest, lowest maintenance, and the lowest turn over rate in the rental biz are 2 bedroom single family homes rented out to section 8 tenants. Every section 8 tenant wants a single famly home and when it comes to a 2 bedroom it is usually in a multi family unit. Most investors over look this great opportunity. If you are looking for long term cash flow you may want to look at the possibility. Once a section 8 tenant finds a 2 bed single they tend to stay for a long time (3,4 5 years or more). I have several 2 bedroom singles and speak from experience.
Hmmm . . I've always focused on 3-BR SFHs, but have also wondered about letting myself wander into 2-BR territory. Also wondered about doing Section 8. I'd love to hear others' experiences along this line, especially in my town--Charlotte NC and the surrounding regions.
I've been debating this myself... I'm in the Cleveland area too, but I have been too nervous to invest there due to the local economy, plus I only have experience investing in safer small towns... with all the inexpensive SFHs in the area I've really been considering looking into this more, especially until I can build myself up to the level of purchasing larger properties.
Have you experienced any sort of setbacks to section 8 tenants?