Updated about 2 hours ago on . Most recent reply
Section 8 housing
Hey, I've done a little bit of homework so far but section 8 housing started to catch my eye. I was just wondering if there was anybody on here that is experienced in that and maybe willing to lend me a word of advice of what to do or what not to do. Maybe be there to lean on for questions? Somebody that's already been there and done that.
I was really looking into multi-family properties and I targeted section 8 in the comments on Zillow and I found a few that look okay. What started to concern me was the fact of inspections and such and potential issues I may run into. I know it's probably not as bad as it seems but I am really interested in getting into it if possible
I am a buy and hold investor. I do not flip or brrrr.
Most Popular Reply
#1 All Forums Contributor
- Honolulu, HI
PM's are like auto mechanics and Doctors. Some are good, some are not. You need to determine your needs, understand the laws, and ask potential PM's about their critical processes, their fees and markups, how and when they report financials and disburse your NET rents. If they only handle a few units, likely they will be no help. If they have 100 or more, they may be able to help. You still need to have a sit down with them, and review their Management Agreement item by item so you understand what you are signing up for. There is plenty of prior discussions on this site to get you started in the right direction.
Utilities, as with nearly every aspect of rental management, varies by location. Find out what is "usual" for the type of unit you have in that area; and what local LL/Tenant laws require the LL to provide.
Good Luck!