Updated almost 2 years ago on . Most recent reply
Starting out with investing in Section 8
Hello,
I am interested in starting a Section 8 investment portfolio. As a result of the recent news about tenant problems, I am unsure what insurance to purchase or if it is even worth it starting at all. Would anyone with experience in this field care to share their thoughts?
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#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
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#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
As far as insurance, help me understand what looking to have covered? I've had S8 in a property in Monroe and placed the same coverage as non S8 properties.
For me it comes down crafting a tenant criteria and vetting the tenant on the front end. Then periodic visits and enforcing the lease to ensure a positive experience.
Take care to follow local laws and fair housing rules. Section 8 is a source of income which cannot be used as a deciding factor when qualifying tenants.
A question that comes to mind: what goals are you looking to accomplish with a S8 only strategy?