Episode 70: Section 8 Secrets

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[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=BJCdz&webforms_id=281202″ css=”on” center=”off” center_margin=”200″/]Section 8 Secrets

In this episode Tom Nardone from millionairemailman.com  and I are talking about section 8.  Tom and several section 8 properties and has a lot of experience dealing with the housing authority and the tenants.

How it Works

Section 8 tenants come with a contact or packet.  You must complete the packet and the tenant takes it back to the housing authority.  The housing authority with then schedule a time to come inspect your property.  After the inspection, the tenant is allowed to move in.  Tom says that the tenants actually take good care of the property because they are afraid of getting kicked out of the section 8 program if the landlord complains.  Tom says the housing authority automatically deposits the rents into his account.

Benefits

Tom says there is a lot of benefits to section 8 tenants including guaranteed payments.  Tom says he sleeps well knowing the rent will automatically be paid each month.  He said this especially beneficial when natural disasters occur and many other tenants have lost their jobs.

Tom also likes the long term tenants that section 8 brings.  Tom says on average these tenants stay a lot longer than traditional tenants.

Rent Rate Vary

Tom is located in South Florida and says that one housing authorty can pay significantly more than a neighboring one.  He says to do your homework because a house a couple of miles away can bring hundreds of dollars more each month.  So call your nearby housing authority and ask them how much they are paying.  This way you can choose the area with the highest returns.

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