Hi I was looking into section 8 housing investment when I came across the funding cuts for HUD and how vouchers were voided before use earlier this year.
I’m rethinking my strategy now since there is a strong possibility that section 8 will be discontinued and, if not, the pool of possible section 8 tenants will drastically reduced.
I’m looking particularly at the Houston market.
What are your thoughts?
Was just at a meetup tonight regarding sec-8. Nothing came up about lacking funding or it going away anytime soon. Public housing, yet. What does seem to be on the rise is tax incentive building/restoration which falls slightly in the same realm as sec-8. Personally, sec-8 will remain for quite some time. I'm not concerned it would be going away but maybe concerned the process can get more or less muddied by bureaucrats. Do you happen to know the reason the vouchers were voided? Generally, the applicants have 90 days to find housing once they've been approved for sec-8. Even then, the property they are considering needs to pass an inspection (which to me sounds quite overly thorough; in lines with FHA financing type of inspection). And with a big city of Houston I highly doubt you'll feel the effects of sec-8 going away (even if it is) in the short term.
We are looking to buy ASAP up to 10,000 HUD Units
Please page me if you know or would like to sell.