Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
The Section 8 Investing Mistake That Leads to Evictions
One of the BIGGEST mistakes real estate investors make when buying Section 8 rental properties is inheriting another landlord's tenants without properly evaluating who they're dealing with! Just because a property is occupied and collecting rent doesn't mean you're buying a good investment. You could be inheriting a nightmare tenant, a future eviction, or years of headaches caused by another landlord's terrible tenant screening practices. At Holton Wise, we've found that the overwhelming majority of our worst tenant problems come from tenants we inherited when acquiring properties from other landlords, NOT tenants we personally screened and placed. That's why we often prefer buying vacant, rent-ready investment properties where we can select our own tenants, conduct thorough background checks, verify rental histories, and properly navigate the Section 8 approval process. Whether you're investing in Cleveland, Detroit, Baltimore, Chicago, or Indianapolis, don't let the promise of immediate rental income blind you to the risks of inheriting someone else's problems. Remember, vacant is better than a bad tenant!
@Denise Weiss, let's connect. Section 8 can work in Philadelphia. It comes down to the block, and to how hands-on you want to be with inspections and repairs, more than the city itself. Is Section 8 the strategy you've settled on? There are tons of them out there. I can help if you'd like!