Section 8 housing South Jersey
Hey everyone. Investing in real estate just shy of 2 years, the only experience I have is with flips (which have treated me well so far) in the Philadelphia market. It has come time for me to start my "BRRRR" path in life with my first rental property, and after doing much homework and diligence, I am thinking that section 8 tenants is the path that I am leaning towards. So for my NJ (South Jersey) friends out there who have experience in this field, I would love to hear from you. The main questions that I could not find specifics for online are the following.
1. Who do I first contact to get some more information on section 8 to get started?
2. How much will my house qualify for? I know this is a broad question, but will there be a significant jump in assisted funding on a 2 bd 1 bath over a 3 bd 1.5 bath? And if so, how can i judge a cash flow if I have no clue what section 8 is paying for?
3. Do I know with 100% certainty that my house will qualify for section 8?
Things of this nature I would need to be slightly knowledgeable on before putting in an offer. The last thing I want to do is buy a house in a primary sec 8 area and then worry about getting answers after.
Any feed back would be greatly appreciated and maybe a few quick tips on things that you did to get the ball rolling on your first rental that was occupied by sec 8 tenants. Like I said, my next rental purchase will be my first, so any other feedback that I did not ask for is welcomed.
Disclaimer**
Some people I have already talked to think that section 8 is too much to deal with especially for someone who is new to the business. Yes my real estate background is limited but I am a business owner of 10 years that subs a lot of work out to wide range of people. Tenants are new for me but people and PROBLEMS are not.
Thank you everyone for your time. Looking forward to reading some responses.