On this podcast episode, I talk about investing in section 8 rental properties. Section 8 is a government backed housing program which offers rental assistance for low income families. There are a lot of myths and stigmas associated with investing in section 8 rental properties. A question I am often asked by investors is which properties are eligible for section 8? The answer is that almost ANY property can be a section 8 rental since section 8 is determined by the tenant NOT by the property. As long as the tenant qualifies for housing assistance and they can find a landlord willing to rent to a section 8 tenant then that property can be a section 8 rental. In order to qualify for section 8, tenants have to apply with their local Housing Authority. In most cities there is a backlog of tenants looking for housing and only a limited number of vouchers are released each year (based on need). Tenants have to show that their annual income is below a certain level and this amount is adjusted depending on many factors such as their income, how many children they have etc. If they apply for section 8 and are approved, then they are eligible to receive a housing voucher. Their housing voucher may pay all of their rent or only part of their rent. The rent is paid to the owner of the property via direct deposit (or check). The section 8 tenant receives their voucher and is given a certain period of time (typically 45 days) to find a rental property. There are NOT many section 8 properties available and there are many more tenants than there are houses. There is a very high demand for section 8 properties which makes these properties very easy to rent for landlords. The annual rent is determined by the Housing and Urban Development of the U.S. Government (HUD). Each city has their own housing authority. And each housing authority assists tenants (and landlords) in matching up rental properties with tenants. Landlords can advertise their properties for rent at their local housing authority. They can also post these properties for rent on the section 8 web site. In order for you to see the types of returns that are possible as an investor here is an example below of a current turn key rental property for sale: https://www.lexlevinrad.com/rentalproperties/ If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON’T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad https://plus.google.com/+LexLevinradrealestate DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best selling book “Wholesaling Bank Owned Properties” at https://www.lexlevinrad.com
