OOS Investing in Detroit-Section 8 Specifically

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OOS Investing in Detroit-Section 8 Specifically

Nicholas Nakamura
Chino, CA · Member since 2024 · 10 posts · 24 votes

Hello Everyone,

Been reading a lot on Section 8 investing in both Cleveland and Detroit. Have been reading so many horror stories from investors in both cities, but also some successful ones. Have about $150K to invest. Looking at purchasing SFH for the purpose of renting to Section 8 tenants. Looking for referrals to build a trustworthy team on the ground, especially a good PM. Any direction and guidance is appreciated. Thanks!

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Alex Sarnoff
Member since 2024 · 13 posts · 7 votes
2y

Seems like everyone is jumping on section 8 because it's trending or in-vogue. It is not a great subsection of the residential asset class. Capex will be very high and will kill net income regardless of where you invest.

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  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    Hey Nicholas, I'm probably the biggest advocate on BP for Detroit. And I'll be the first to tell you that you need to be smart about how you approach the market there, who you work with, etc.

    I personally own 12-doors in Detroit and also live in CA. I've been investing there since 2019 and lived on the ground from 2017-2022 so I know the market extremely well. I also get back to Detroit 2-3 times/year.

    I know you already sent me a DM and I'm looking forward to chatting. But just want to say I'm happy to help anyone else out that's looking at the Detroit market.

    One final note... Section 8 is not a silver bullet. I just started the eviction process on one of my S8 tenants yesterday!

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    2y

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
    1Reply
  • Myles Johnson
    Rental Property Investor · Denver, CO · Member since 2018 · 14 posts · 19 votes
    2y

    @Drew Sygit

    What is your website?

    0Reply
  • Alex Sarnoff
    Member since 2024 · 13 posts · 7 votes
    2y

    Seems like everyone is jumping on section 8 because it's trending or in-vogue. It is not a great subsection of the residential asset class. Capex will be very high and will kill net income regardless of where you invest.

    1Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


    You definitely post more, Drew!

    Just I'll take my upvote-to-post ratio any day ;-)

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    2y
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


    why take on section 8  Just find high quality rental find a great PM and rent out to market renters.. why take on section 8 when you dont have to .. Drew has 700 props and only 100 section 8 .. there is a reason.
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    0Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y
    Quote from @Jay Hinrichs:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


    why take on section 8  Just find high quality rental find a great PM and rent out to market renters.. why take on section 8 when you dont have to .. Drew has 700 props and only 100 section 8 .. there is a reason.

     I'm evicting a Section 8 tenant right now... there is a reason :-)

    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    2y

    @Myles Johnson LogicalPM.com

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    2y
    Quote from @Travis Biziorek:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


    You definitely post more, Drew!

    Just I'll take my upvote-to-post ratio any day ;-)


     TRUE!

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Nicholas Nakamura:

    Hello Everyone,

    Been reading a lot on Section 8 investing in both Cleveland and Detroit. Have been reading so many horror stories from investors in both cities, but also some successful ones. Have about $150K to invest. Looking at purchasing SFH for the purpose of renting to Section 8 tenants. Looking for referrals to build a trustworthy team on the ground, especially a good PM. Any direction and guidance is appreciated. Thanks!


     HoltonWise has you covered bro. CLICK HERE let's get it.

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


     Drew knows what he's doing in Detroit ya'll.............Look at this insight, you won't find a dude who's deeper in the trenches than him.

    Section 8 Unit Turnover Inspection in Detroit Michigan | HoltonWiseTV Highlights

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    2y
    Quote from @James Wise:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


     Drew knows what he's doing in Detroit ya'll.............Look at this insight, you won't find a dude who's deeper in the trenches than him.

    Section 8 Unit Turnover Inspection in Detroit Michigan | HoltonWiseTV Highlights


    investors need to understand turnovers are more than 500.00 that they put in their proformas.
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Jay Hinrichs:
    Quote from @James Wise:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than , yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


     Drew knows what he's doing in Detroit ya'll.............Look at this insight, you won't find a dude who's deeper in the trenches than him.

    Section 8 Unit Turnover Inspection in Detroit Michigan | HoltonWiseTV Highlights


    investors need to understand turnovers are more than 500.00 that they put in their proformas.

     They just have to watch HoltonWiseTV. We cover that type of stuff on a daily basis. Cleveland, Detroit, Indy, KC, Birmingham, Akron, Canton, Toledo, Columbus, Dayton.....It's all represented for them to see. Only thing is I can't seem to get @Engelo Rumora to put on a pair of pants during a turnover inspection for the life of me.

    Toledo's Most Infamous Landlord on Making Millions Investing Out of State | HoltonWiseTV Highlights

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    2y
    Quote from @James Wise:
    Quote from @Jay Hinrichs:
    Quote from @James Wise:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than , yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


     Drew knows what he's doing in Detroit ya'll.............Look at this insight, you won't find a dude who's deeper in the trenches than him.

    Section 8 Unit Turnover Inspection in Detroit Michigan | HoltonWiseTV Highlights


    investors need to understand turnovers are more than 500.00 that they put in their proformas.

     They just have to watch HoltonWiseTV. We cover that type of stuff on a daily basis. Cleveland, Detroit, Indy, KC, Birmingham, Akron, Canton, Toledo, Columbus, Dayton.....It's all represented for them to see. Only thing is I can't seem to get @Engelo Rumora to put on a pair of pants during a turnover inspection for the life of me.

    Toledo's Most Infamous Landlord on Making Millions Investing Out of State | HoltonWiseTV Highlights


    Engelo is a very special PM .  
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    2y
    Quote from @James Wise:
    Quote from @Jay Hinrichs:
    Quote from @James Wise:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than , yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


     Drew knows what he's doing in Detroit ya'll.............Look at this insight, you won't find a dude who's deeper in the trenches than him.

    Section 8 Unit Turnover Inspection in Detroit Michigan | HoltonWiseTV Highlights


    investors need to understand turnovers are more than 500.00 that they put in their proformas.

     They just have to watch HoltonWiseTV. We cover that type of stuff on a daily basis. Cleveland, Detroit, Indy, KC, Birmingham, Akron, Canton, Toledo, Columbus, Dayton.....It's all represented for them to see. Only thing is I can't seem to get @Engelo Rumora to put on a pair of pants during a turnover inspection for the life of me.

    Toledo's Most Infamous Landlord on Making Millions Investing Out of State | HoltonWiseTV Highlights


    Next time I'm thinking about not even wearing underwear.

    There is a reason they call us Aussie's "The thunders from down under" haha

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    2y
    Quote from @Jay Hinrichs:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than @Travis Biziorek, yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


    why take on section 8  Just find high quality rental find a great PM and rent out to market renters.. why take on section 8 when you dont have to .. Drew has 700 props and only 100 section 8 .. there is a reason.

    We manage 400 units and growing.

    Less than 10 are section 8.

    The Section 8 office hates us as we don't like dealing with them.

    Trying to keep Section 8 management to a minumum.

    I find it funny how many folks are specifically looking for Section 8 thinking it's guaranteed rent...

    It is for the amount of the voucher but good luck collecting the remaining $100 from a lower socio tenant...

    And the never changing rules/criteria from Section 8 is a disaster.

    Not my cup of tea so we do our best to stay away

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Engelo Rumora:
    Quote from @James Wise:
    Quote from @Jay Hinrichs:
    Quote from @James Wise:
    Quote from @Drew Sygit:

    @Nicholas Nakamura pretty sure we post more about Detroit than , yet he is alone in 2nd place:)

    We also appreciate he tells it like it is and doesn't sugarcoat the facts:)

    We manage almost 700 doors in Metro Detroit, almost 300 of them in the City of Detroit, with around 100 Section 8 leases.

    Not aware of anyone else from the Detroit area here on BP with these numbers - AND  the corresponding experience:)

    Just visit our website and review the info we supply to help investors make better decisions when investing in Detroit.

    DM us if you'd like to chat...


     Drew knows what he's doing in Detroit ya'll.............Look at this insight, you won't find a dude who's deeper in the trenches than him.

    Section 8 Unit Turnover Inspection in Detroit Michigan | HoltonWiseTV Highlights


    investors need to understand turnovers are more than 500.00 that they put in their proformas.

     They just have to watch HoltonWiseTV. We cover that type of stuff on a daily basis. Cleveland, Detroit, Indy, KC, Birmingham, Akron, Canton, Toledo, Columbus, Dayton.....It's all represented for them to see. Only thing is I can't seem to get @Engelo Rumora to put on a pair of pants during a turnover inspection for the life of me.

    Toledo's Most Infamous Landlord on Making Millions Investing Out of State | HoltonWiseTV Highlights


    Next time I'm thinking about not even wearing underwear.

    There is a reason they call us Aussie's "The thunders from down under" haha


     Nice shoes bro

    Toledo's Most Infamous Landlord Loves Strippers & Hates Investors | HoltonWiseTV Highlights

    1Reply
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