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Updated over 7 years ago on . Most recent reply

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12
Posts
3
Votes
Miguel Rivera
  • Rental Property Investor
  • Calexico, CA
3
Votes |
12
Posts

Buying a property that is in section 8

Miguel Rivera
  • Rental Property Investor
  • Calexico, CA
Posted

I am considering buying a 4-plex in California that currently has section 8 tenants. Each unit is being rented at $825 and I know that improving the units I can get a rent of at least $975 per unit. 

Can anyone please help me with the following questions:

1.-What is the process of moving out the section 8 tenants once their lease expires so I can remodel the units and charge $975 per unit to non-section 8 tenants?

2.-Can rents be increased for section 8 tenants?

Thanks.

Most Popular Reply

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2,350
Posts
2,392
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Brian Garlington
  • Realtor
  • Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
2,392
Votes |
2,350
Posts
Brian Garlington
  • Realtor
  • Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
Replied

Why not keep the tenants in place that are on Section 8.....practically guaranteed money......that's what I did.

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