Flipper/Rehabber · Saginaw, MI · Member since 2016 · 30 posts · 8 votes
Hello- My name is Scott. My partner Amanda and I just opened up our LLC in April. We have flipped our first two houses since July with both of them projected to close in January! Looking to continue to flip along with acquiring some rentals hopefully soon. We live in SoCal but have our team and investments back in the suburbs of Saginaw, MI, Amanda's hometown. Have been joining in the webinars the last few weeks and really like the education and support BiggerPockets has to offer. Hope to connect with as many of you as possible!
Any investors out there that may have some knowledge on government lending for investments? Such as section 8 housing?
@Scott Walther. Section 8 is a program for tenants, not for landlords. The idea of "Section 8 housing" is a colloquial misnomer, not a legal or zoning term. Different states use Section 8 differently, but you can have Section 8 tenants in any housing. The (very ideal and often unachievable) purpose of the program is actually to get responsible low-income tenants out of bad neighborhoods by giving them vouchers for a percentage or all of the rent in any housing they can qualify for. It doesn't always work that way (from the responsible tenant side to the better neighborhood side) but that's the idea.
@Kevin Siedlecki. Thanks. I was looking more for grant information or programs such as the HOME partnership program that is offered through the HUD. A lot of information and steps to get approved for grants and such. More so looking to see if anyone has went through the process. I thought applying for Section 8 housing as a landlord would also be another avenue to get approved into those programs easier.