Covid 19 impact on market rents...time to convert to Section 8?
Its likely accurate to assume the hardest hit by Covid-19 (economically speaking) is the low income or lower middle class workers in the service sector. Many are likely to be renters and will be struggling to make monthly payments going forward.
When contemplating an investment in small multifamily during and post-crisis...how target rich will be distressed sellers holding small multifamilies with incomes based purely on market rents as opposed to subsidized Section 8? How long does it take to get approved under Section 8? Is it a good strategy to target distressed sellers collecting non-subsidized and begin the process of converting to Section 8? Will seller financing be a good approach to execute such a strategy?