Is section 8 good for your first multi family investment
Is section 8 a good idea for your first realestate deal ?
Section 8 apartment buildings was all I ever bought, from 4 family to 12 family dwellings. The tenants can be a real pain and you have to stay on top of things, but the monthly rent check always came in on time from the section 8 department and they covered the security deposit also. As far as evictions go, once I found out the tenants case worker person I connected with them for help to try to avoid eviction but in my town in upstate NY judges knew the problem and made demands of the tenant or followed the process for evictions. Going section 8 you really have to stay on top of things and don't ever let the tenant take advantage of you. Stay the course as they say.
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- Youngstown, OH
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#4 Medium-Term Rentals Contributor
- Lender
- Youngstown, OH
Just do your homework. There are tons of articles and podcasts here on BP that discuss the pros and cons. If you feel you have the resources to deal with the cons of Section 8 and a great deal presents itself, go for it!
@Mike Sedlacek ok thank you mike
@Nicole Heasley thank you Nicole i sure will do my homework