Watch out for Section 8 tenants - coming soon to your apartment building! (Riverside: low income, renting)

[Taksan]

The numbers on S8 don’t stack up to the drama... I’ve deliberately catered to S8 specifically buying buildings that nobody will touch and making out quite nicely indeed. The “nicer” the complex the lower the return. S8’s are not that bad at all If correctly managed.

[jm1982]

Originally Posted by Taksan

The numbers on S8 don’t stack up to the drama... I’ve deliberately catered to S8 specifically buying buildings that nobody will touch and making out quite nicely indeed. The “nicer” the complex the lower the return. S8’s are not that bad at all If correctly managed.

In Los Angeles or Florida ?

[Tulemutt]

Originally Posted by jm1982

In Los Angeles or Florida ?

Because Section 8 tenants are a different species in LA, right?

[Taksan]

Originally Posted by jm1982

In Los Angeles or Florida ?

Both ... LA might be harder but you can hold for development upside in LA.

[eureka1]

Demonizing Section 8 tenants is cruel and unnecessary, It's well-documented that most working families in this country are one paycheck away from homelessness. I have rented to Section 8 tenants. If YOU have common sense it can work out well.

[Tulemutt]

Originally Posted by eureka1

Demonizing Section 8 tenants is cruel and unnecessary, It's well-documented that most working families in this country are one paycheck away from homelessness. I have rented to Section 8 tenants. If YOU have common sense it can work out well.

Ahahahahahahahaha ... lmao. Wait, eureka ... you’re suggesting that successful investors have and use what they stereotype Section 8 applicants not having?

[aslowdodge]

Originally Posted by eureka1

Demonizing Section 8 tenants is cruel and unnecessary, It's well-documented that most working families in this country are one paycheck away from homelessness. I have rented to Section 8 tenants. If YOU have common sense it can work out well.

or not. You take a higher risk with section 8 because of their financial situation. It's not so much the loss of rent although that's bad enough, but the monetary loss you might take if they damage the property. Many don't have assets or even a job you can recover the damages from.
Common sense says to make sure they are in a financial position to protect you. Often they are not.

[jm1982]

Originally Posted by aslowdodge

or not. You take a higher risk with section 8 because of their financial situation. It's not so much the loss of rent although that's bad enough, but the monetary loss you might take if they damage the property. Many don't have assets or even a job you can recover the damages from.
Common sense says to make sure they are in a financial position to protect you. Often they are not.

Yeah ,exactly. Landlords are running a business , not running a charity. A crucial part of running a business is minimizing risk.

[MuscleCar]

Originally Posted by jm1982

Yeah ,exactly. Landlords are running a business , not running a charity. A crucial part of running a business is minimizing risk.

Not if you're a Democrat. It's ALL charity.

[LLCNYC]

Originally Posted by jm1982

Yeah ,exactly. Landlords are running a business , not running a charity. A crucial part of running a business is minimizing risk.

How dare you!