Section 8 investing isn’t as scary as it seems. Most landlords will opt to not rent to section 8 tenants, fearing non-payment or just getting stuck with a bad renter. But, this means that the tens of thousands of potential tenants, waiting with guaranteed rent, have nowhere to stay, while you struggle to fill an empty unit. Ashley Hamilton, Detroit-based investor, thinks that not renting to section 8 tenants could be a huge mistake.
Welcome back to this week’s Rookie Reply! This time, we’ve got Cullen asking: Is it a bad idea to invest in properties out of state where the housing market is cheaper and more affordable for us? Or would it be better to save more money and invest in the market we are currently living in?
Good news for Cullen, we’ve got a cash flow market expert here to help answer his question!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Ashley Kehr:
This is Real Estate Rookie, Episode 238.
Ashley Hamilton:
If you are new and you’re just wanting to get started and you want that cash flow, it’s not a situation where if you make a mistake and fail that you could lose your shirt. Obviously nobody wants to lose money, but I’d rather lose a couple thousand then a $100,000 or something like that. But again, with Detroit, we’re very cash flow heavy. There’s a lot of demand and especially in Section 8, so I feel like it’s a great market for rookies to infiltrate because it’s so low risk with the guarantee rents and things like that.
Ashley Kehr:
My name is Ashley Kerr, and I’m here with my co-host Tony Robinson.
Tony:
Welcome to the Real Estate Rookie Podcast where every week, twice a week, we bring you the inspiration, information, stories you need to hear to kickstart your investing journey. I want to start this podcast by shouting out some folks in the Rookie audience. Today we have a podcast review from…