Considering Section 8 investments, What are pros and cons?
Good morning BP family,
I currently hold a couple of Long Term rentals one sfh and one duplex with a commercial property north of Macon and have a friend that invests in the area but does not have section 8 rentals because she inherited all of her properties and they were never set up as section 8. That being said, I have been considering section 8 sfh investments here in Macon Ga. and wanted to get feedback from those who have been there and done that or have experience in that specific market. What are the pros and cons of section 8 investing? Is it worth the headache (dealing with the government is bound to be a headache) at least this is my assumption. Does it result in properties more prone to property damage, difficult tenants, and troublesome evictions etc. What is the sweet spot for home sizes? Are their certain size homes required (ie. Sqft)? Any guidance and direction in this would be greatly appreciated. I appreciate the wealth of knowledge that you guys represent.
Peace and Blessings,
Shane
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#1 All Forums Contributor
- Real Estate Consultant
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its a specialty niche no doubt.. those that think its easy and guranteed rent usually end up in a bad place.. those that Micro manage every aspect and are local and know what to expect can make it work..
However one just needs to consider the tenant base of section 8 basically nationwide.. your talking single mothers and multiple children .. those are the toughest situations for the homes for on going maintenance and repairs. And if does not matter if your section 8 or not but you have small children living in a home your homes are going to take a lot of abuse.. Kids are kids and they bang into things they break things they break window shades they stand on oven doors they spill things etc etc..
- Jay Hinrichs
- Podcast Guest on Show #222
