advice on investing in section 8 tenants

[Tom Hall]

I would like to invest in section 8 rentals however i don't have any experience.
I am here to get some advice from experienced people about where can i start and how, and If there is any mentoring courses available that's worth buying...

We all had to start from somewhere looking forward for some great advice!

[Patricia Steiner]

There is a lot on this topic already on BP.  Please do a search (on the BP tool bar above) and you'll get more information than you can get through a single post.  Section 8 is a great option for investors - and you're smart to knowledge up about it before proceeding.  Also, the Housing Authorities who participate in Section 8 have New Landlord Training Classes (in some communities it is a requirement of new landlords) - and I recommend you take it online so you can know who the players are and how they play the game.  A missed deadline could cost you a rental increase for an entire year...so search away above and you'll be the expert on the topic in the near future.  

Best...

[Scott Allen]

@Tom Hall

Some investors love section 8 and some like to stay away from it.

Pros - it can be guaranteed rent, there is a max amount they are willing to pay on size of the units, most people on section 8 don't want to get kicked off of it.

Cons - the people get their rent paid for free, they can't afford the rent if they get kicked off of section 8, it can be a delayed process when changing ownership of a property, there is an annual inspection that you needs to be done usually to keep the property qualified for section 8

I recommend doing what Patricia said as well.

Best of luck getting started!

[Patrick Drury]

@Tom Hall
I personally own a rental property that I rent out via section 8 in Columbus OH. I would definitely recommend it. The hardest part about section 8 is getting the process down, like what to do and when. Sometimes they also change the process and don't tell anyone. A big part of renting to section 8 tenants is screening them. Just because they have a voucher doesn't mean they are the right tenant. The same goes for average Joe's. Just because they make enough income doesn't mean their application is perfect. Do a background check. A big part of tenants treating properties badly is because people didn't screen the tenants adequately, so don't make that mistake.

[Jonathan Aversano]

Like any rental, do your due diligence and screen your tenants. Arguably the biggest pro of Section 8 is that Uncle Sam does not miss payments, while Average Joe may miss payments, even with a 700+ credit score. The government's money will hit your account on the 1st rain or shine.