Section 8 rents in Louisville
Hello all,
I'm thinking about investing in some low income properties in Louisville. Particularly the Portland neighborhood. My question is what is the max rent you can recieve for a 2/1 or 3/2 SFR house on section 8? I called the local HUD office but they weren't much help. From what I've heard it varies from house to house but I just want to know a average to see if would be worth my time going the section 8 route.
@Scott A Smith Good points. We are out of state and invest in Louisville. We too have stayed away from Portland but have been watching to money and renovations happening there. To me it seems like a long play but I could be completely wrong. The points on section 8 are correct. We have our properties in south and south central submarkets and we have about 15-16% section 8. At one point the payments were delayed almost four months on section 8 and I know investors that had the majority of their units with section 8 were sweating hard as there was really no indication when payment would come. Inspections are harder but some I like as we need to offer good housing but some has been ridiculous. (We failed once for a light pole on a neighboring property.)