Section 8 Rents are Crazy High in Cleveland

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Section 8 Rents are Crazy High in Cleveland

James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes

The amount of money the government dishes out to Section 8 property owners in Cleveland is nuts. Even in 2024, while many other housing markets are suffering, the numbers on Section 8 rental properties in Cleveland are out of control. Section 8 profits in Cleveland housing is arguably the best in the nation. During this episode of The Investment Properties For Sale Show the HoltonWiseTV team is taking viewers on a tour of a single family house that will take in a truck load of Section 8 rent every month. Tune in to HoltonWiseTV more more Section 8 deals like this one.

Section 8 Rents are Crazy High in Cleveland | Investment Properties For Sale - 12004 Craven

CLICK HERE TO WATCH THE VIDEO

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HoltonWise, along with it's market specific vendor partners, offers real estate investors a complete top to bottom real estate investing support system. In addition to a huge inventory of properties for sale, products and services available for investors are as follows.

- Real Estate Education

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- Investor Financing

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- Title Work

- Property Insurance

- Section 8 Consulting

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HoltonWise offers complete Hit me up to talk about investing in the following markets.

- Cleveland, Ohio

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Vendor partners include, but are not limited to

- @Engelo Rumora & @Dominique Osborn as well as the rest of the OzRealty specializing in the Toledo, Ohio real estate market.

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CLICK HERE for Lender Financing

CLICK HERE for Seller Financing

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CLICK HERE for a Personalized Turnkey Experience on ANY Property in the markets listed above.

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Account Closed
Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
1y
Quote from @Christopher Sandys:

This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

That's a pretty good return, right?  

The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.


That court case lost the appeal, lead safe is being enforced. Use Dave Myers for lead inspections: 419-283-3283. He's an Investor also and so he's not trying to bust us.

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  • Christopher Sandys
    Member since 2023 · 97 posts · 60 votes
    1y

    This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

    That's a pretty good return, right?  

    The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.

    0Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    1y
    Quote from @Christopher Sandys:

    This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

    That's a pretty good return, right?  

    The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.


     Don't tell me you are crying about the numbers if you had to replace the windows bro. Cost of doing business. Numbers still excellent.

    0Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    1y
    Quote from @Christopher Sandys:

    This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

    That's a pretty good return, right?  

    The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.


    That court case lost the appeal, lead safe is being enforced. Use Dave Myers for lead inspections: 419-283-3283. He's an Investor also and so he's not trying to bust us.

    1Reply
  • Christopher Sandys
    Member since 2023 · 97 posts · 60 votes
    1y
    Quote from @Account Closed:
    Quote from @Christopher Sandys:

    This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

    That's a pretty good return, right?  

    The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.


    That court case lost the appeal, lead safe is being enforced. Use Dave Myers for lead inspections: 419-283-3283. He's an Investor also and so he's not trying to bust us.

    How current is this data?  I spoke vis-a-vis, with this person 6 days ago. She told me that it is not being enforced.  She is the chief enforcement officer.

    0Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    1y
    Quote from @Christopher Sandys:
    Quote from @Account Closed:
    Quote from @Christopher Sandys:

    This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

    That's a pretty good return, right?  

    The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.


    That court case lost the appeal, lead safe is being enforced. Use Dave Myers for lead inspections: 419-283-3283. He's an Investor also and so he's not trying to bust us.

    How current is this data?  I spoke vis-a-vis, with this person 6 days ago. She told me that it is not being enforced.  She is the chief enforcement officer.


     Hmm ok I can't dispute that, but I would just get it certified anyways, its definitely coming.

    0Reply
  • Christopher Sandys
    Member since 2023 · 97 posts · 60 votes
    1y
    Quote from @Account Closed:
    Quote from @Christopher Sandys:
    Quote from @Account Closed:
    Quote from @Christopher Sandys:

    This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

    That's a pretty good return, right?  

    The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.


    That court case lost the appeal, lead safe is being enforced. Use Dave Myers for lead inspections: 419-283-3283. He's an Investor also and so he's not trying to bust us.

    How current is this data?  I spoke vis-a-vis, with this person 6 days ago. She told me that it is not being enforced.  She is the chief enforcement officer.


     Hmm ok I can't dispute that, but I would just get it certified anyways, its definitely coming.

    Thank you for the tip on Dave Myers.  He sounds like he will give a fair, proper inspection.  
    0Reply
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