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Old 02-19-2009, 07:55 PM
 
Location: Inland Empire
7 posts, read 24,949 times
Reputation: 13

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We're looking to take advantage of these low home prices below 100,000. Does anyone have knowledge working with the government under section 8 and it's renters that qualify and meet the requirements?

This purchase would help finance the kids through college in 10 years "IF" the market should rise in value.
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Old 02-19-2009, 09:08 PM
 
3,441 posts, read 5,040,390 times
Reputation: 2319
Quote:
Originally Posted by thesunking View Post
We're looking to take advantage of these low home prices below 100,000. Does anyone have knowledge working with the government under section 8 and it's renters that qualify and meet the requirements?

This purchase would help finance the kids through college in 10 years "IF" the market should rise in value.

I'm not to clear on your question but if your trying to apply for section 8 your going to be on a waiting list for a few years..

If you have property and you want to rent to people who live on section 8 I have herd from landlords that they can be a hassle.
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Old 02-19-2009, 11:00 PM
 
Location: southwest michigan
1,061 posts, read 2,271,133 times
Reputation: 479
If you're looking for a lot of appreciation, you need to be in a good area, and have a decent home/lot size. I don't know of *anywhere* in the country that will offer that for under 100K. Are there specific homes you have in mind? I'm curious!
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Old 02-19-2009, 11:15 PM
 
11,726 posts, read 24,740,183 times
Reputation: 7135
So you want to buy a house in a slum and rent it out to people who will trash it?
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Old 02-20-2009, 12:02 AM
 
Location: Inland Empire
7 posts, read 24,949 times
Reputation: 13
We're interested in buying a second property in the high desert area of Victorville, Ca and alike.

Seeking information if Section 8 is beneficial to us as landlords, I understand that the property has to be up to date and meet a criteria to be able to qualify and rent to section 8 candidates.

Or would we be better off seeking our own tenants?

I'm open for horror stories and positive (good) results.
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Old 02-20-2009, 02:26 AM
 
Location: Columbia, California
6,541 posts, read 15,139,988 times
Reputation: 4629
Why rent to the lowest common denominator?
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Old 02-20-2009, 10:50 AM
 
Location: San Jose, CA
214 posts, read 657,466 times
Reputation: 126
Quote:
Originally Posted by ferretkona View Post
Why rent to the lowest common denominator?
Because the original poster would rather bet on home price appreciation (speculation) than put away money for their kids college in a 529 plan.
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Old 02-20-2009, 09:26 PM
 
Location: Gallatin Valley
339 posts, read 768,291 times
Reputation: 137
I would highly recommend against it. The Section 8 crowd is the reason we are choosing to buy in Phelan asap instead of buying in Victorville. Anybody here remember Moreno Valley? It built up quick and crashed hard.

I don't want to be paying $1,500 a month to live in a 2 story 3000 sq ft home, just to have them rent it out to section 8 and have some gang family live next to me for $400 a month!
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Old 09-10-2009, 09:21 PM
 
1 posts, read 3,527 times
Reputation: 10
Default Times are hard

Quote:
Originally Posted by Desertrose34 View Post
I would highly recommend against it. The Section 8 crowd is the reason we are choosing to buy in Phelan asap instead of buying in Victorville. Anybody here remember Moreno Valley? It built up quick and crashed hard.

I don't want to be paying $1,500 a month to live in a 2 story 3000 sq ft home, just to have them rent it out to section 8 and have some gang family live next to me for $400 a month!

There are single moms who are full time students and who work real jobs, leaving no choice but to rely on sec8 while we put the pieces of our lives back together. We are not all born into or associated with gangs. I am just a small voice that finds it hard to rent a house on sec8 in a decent area, because of stereotypes such as this. In the age of this recession there are more and more of us section 8 dwellers that used to be able to afford to live the way want to. Is it the fact that our rents are lower that makes the more fortunate sore? We should not all be pegged into the barrel of bums and lower class? At the end of the day aren't we all human? So sec 8 is only for bums??? I am quite educated. My family has the right to be safe and not frowned upon.
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Old 09-10-2009, 09:26 PM
 
Location: Pennsylvannia
41 posts, read 164,449 times
Reputation: 26
Quote:
Originally Posted by Desertrose34 View Post
I would highly recommend against it. The Section 8 crowd is the reason we are choosing to buy in Phelan asap instead of buying in Victorville. Anybody here remember Moreno Valley? It built up quick and crashed hard.

I don't want to be paying $1,500 a month to live in a 2 story 3000 sq ft home, just to have them rent it out to section 8 and have some gang family live next to me for $400 a month!
Are you saying that they would rent it out from underneath you?
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