Eric Spofford Section 8 Course

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Eric Spofford Section 8 Course

Manuel Angeles
Lender · Los Angeles, CA · Member since 2015 · 278 posts · 78 votes

Have you heard of Eric Spofford?

He has a webinar about investing in properties with Section 8 tenants, and has a course teaching how to invest in Section 8 for $1,997.

I wanted to see if anyone here has invested into his systems.

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Leroy K. WilliamsPro Member
Property Manager · Southfield Mi · Member since 2018 · 192 posts · 176 votes
2y

Section 8 is not rocket science. I have studied both and Section 8 is a lot easier.

Yes, Section 8 is intended to help with the issue of available housing for low income people so absolutely its not designed to compete with your Class A rentals. That said, its a great opportunity for the investor willing to accept the challenge.  

Keys to success:  

1. You must hire locals who are familiar and acclimated to the culture of the city you plan to create rentals in.  Its never going to work if you want to buy in the low income areas of a city and hire management from outside. It feels comfortable and reassuring in the beginning but guess what happens?  After a few months you figure out that your team has not really engaged your property on a regular basis. The home has been broken into, the furnace is gone, the house is open to trespass and no one knows for weeks.

2. You must not follow your instinct and attempt to invest as little as possible into the renovations thinking "If someone is willing to live in this neighborhood there is no way they have standards".  Exactly wrong. Tenants in cities like Detroit, Cleveland, Buffalo, etc have options when they receive their voucher. Many of the recipients are single mothers who actually want to find stable housing for themselves and their children so initially they are looking for the best house they can find and it is only when time is running out and their voucher is expiring (Yes that is a thing) that they begin lowering their standards and will settle for a cheaply put together home.  So moral of the story make the property appealing.

3. Patience.  Section 8 is a process, it takes a few months to get everything up and running from an administrative standpoint. But once the payments start rolling in like clock work you forget about the initial crawl.  

4. If you come to Detroit get in touch with me.  But honestly I don't care how many courses you take you must have a local team or you will crash and burn. After 20 years I have seen the biggest and baddest investors come crashing down running away with their tails between their legs. 






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  • Jay Bhattacharjee
    Melbourne, Vic · Member since 2014 · 1 post · 0 votes
    1y

    thanks Ben, I was on a call with them on turnkey projects. Thanks a million for your insight

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    1y

    Something is definitely extremely fishy going on with this Eric Spofford dude. His "team" has attempted to buy a couple of my properties in Cleveland, Ohio using a dead LLC.

    When I pressed them about the dead LLC they said that the error must be on my end.

    Screen shot directly from the Ohio Secretary of State website below. This self claimed "Drug Addict to CEO" doesn't pass the sniff test in my opinion.

    1Reply
  • Roman Anderson
    Member since 2022 · 6 posts · 3 votes
    1y

    I bought his course and went all in. I paid 10k to get a turnkey cash flowing rental property. That was August 2024. Since then I have been met with his property management company ghosting me and taking the rent given to them and seeing $109 so far. So now I own a property on the other side of the country that I'm responsible for paying a mortgage on with no income. DO NOT BUY INTO ERIC SPOFFORD. He's currently being indicted on unrelated charges, but it won't surprise me if fraud will be next.

    3Reply
    • Michael Goldberg
      Investor · Member since 2020 · 32 posts · 33 votes
      1y
      Quote from @Roman Anderson:

      I bought his course and went all in. I paid 10k to get a turnkey cash flowing rental property. That was August 2024. Since then I have been met with his property management company ghosting me and taking the rent given to them and seeing $109 so far. So now I own a property on the other side of the country that I'm responsible for paying a mortgage on with no income. DO NOT BUY INTO ERIC SPOFFORD. He's currently being indicted on unrelated charges, but it won't surprise me if fraud will be next.


       This is horrendous. If you need help at all feel free to reach out. I hate hearing this stuff so much. 

      3Reply
  • Michael Goldberg
    Investor · Member since 2020 · 32 posts · 33 votes
    1y

    Please look up this guy's background before you work with him. In just a few minutes of online searching you can tell all you need to know about this guy. Hint: its really bad.

    3Reply
  • Gladimir Lobo
    Real Estate Broker · Cleveland, OH · Member since 2023 · 242 posts · 85 votes
    1y

    It is unfortunate.  It is horrendous, it is fishy… Now, brace yourself!! Despite what Eric Spofford, Tom Cruz, and the wannabe gurus, social media hype-machines keep shouting, government or Section 8 “guaranteed rent” is sales talk!

    THEY ARE LYING TO YOU!!!!

    Talk to anyone with a couple years of section8 under their belt or just call up some honest property managers.

    Turns out, the only things truly guaranteed in life are taxes, death, and probably getting another spam email today. Everything else? Well, get your clown nose and your bozo shoes, now you are out of ten grand.

    2Reply
  • Roman Anderson
    Member since 2022 · 6 posts · 3 votes
    9mo

    I bought the program for the $1997 in 2024. I paid 10k to get one of their section 8 rent ready properties. What was supposed to be 30-60 days for a cash flowing property took almost a year. I then used their property management company. Big mistake. They put in a cash tenant based on the premise that she would be getting a section 8 voucher the next month. I received two rent checks and then, nothing. They let me go as a client, and referred me to another property management company that is just as bad. They were supposed to merge the appfolio account with the new management company. I have thousands of dollars in that account that they have not released to me or the new management appfolio account. I have been paying for a house now for months without rent and without answers. They don't answer calls or emails. I'm out 10s of thousands of dollars and wish I had never got involved with the program. Very expensive lesson.

    0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      9mo
      Quote from @Roman Anderson:

      I bought the program for the $1997 in 2024. I paid 10k to get one of their section 8 rent ready properties. What was supposed to be 30-60 days for a cash flowing property took almost a year. I then used their property management company. Big mistake. They put in a cash tenant based on the premise that she would be getting a section 8 voucher the next month. I received two rent checks and then, nothing. They let me go as a client, and referred me to another property management company that is just as bad. They were supposed to merge the appfolio account with the new management company. I have thousands of dollars in that account that they have not released to me or the new management appfolio account. I have been paying for a house now for months without rent and without answers. They don't answer calls or emails. I'm out 10s of thousands of dollars and wish I had never got involved with the program. Very expensive lesson.


      so they suck you in on training just to try to sell you a property.. interesting
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      0Reply
    • Gladimir Lobo
      Real Estate Broker · Cleveland, OH · Member since 2023 · 242 posts · 85 votes
      9mo
      Quote from @Roman Anderson:

      Roman, much respect, man. It takes guts to put this out there.
      Sorry you had to deal with that.

      There are soooo many “Section 8 gurus” out here selling dreams and pushing people into these houses, and folks end up stuck holding the bag.

      Wishing you the best as you work through it.

      1Reply
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