As you know, Section 8 can be a really good option for property investors.
Because your rent is paid every month by the federal government.
So as you’d imagine I get a lot of questions about it.
And a few days ago Roger in the UK asked…
“The UK government build low cost housing for the unemployed and low income families that’s generally poorly built and high maintenance. Is this the same for US Section 8 properties?”
The short answer is – no it‘s completely different.
You see, the US government does not build low cost housing anymore.
They stopped that in 1974 when they introduced Section 8.
So ALL Section 8 approved properties are privately owned.
They are not cheaply built government housing.
In fact, if you buy a genuine Section 8 approved property you’re likely to get a house of superior quality.
That’s because your property has to pass a Housing Quality Standards (HQS) inspection every year.
They have high standards and usually ask for some repairs.
Which means you may have slightly higher maintenance costs.
So it’s a good idea to keep some funds in reserve.
But the higher rent you will receive usually makes it worthwhile.
And it does mean you can be confident your property is in good condition.
What’s more, if you rent to a Section 8 tenant it doesn’t mean you are tied to the scheme forever.
You can pull out at any time by giving 3 months’ notice.
Although in my experience it’s unlikely you’d want to do that.
As the benefits are so good.
We renovate ALL our properties to Section 8 standards.
And this makes us one of the largest suppliers of Section 8 approved properties in Detroit.
So if you like to see what’s on offer – just reply to me.
Let’s have a quick look at a few that are available right now.
Ravendale is a residential neighbourhood in East Detroit close to affluent Grosse Pointe and Harper Woods.
A lot of money has been spent regenerating this neighborhood over the last few years.
So there is high demand for rental property in this area and property prices are rising fast.
This property is a short walk to Glenfield-Lannett Playground.
The shops, banks and restaurants on Chalmers Street are just a 2 minute walk.
This newly renovated house has 3 bedrooms, 1 bathroom, a living room, a kitchen, a 1,050 sq. ft. basement and a 5,706 sq. ft. garden.
Your tenants are a couple with 2 children aged 10 and 12.
Their monthly rent is US$ 750, paid by section 8.
This property is on offer for US$ 49,998.
Your net yield is 13.98%.
That’s US$ 6,988 in your bank account every year.
Want full details?
Simply reply to me.
Ravendale has some excellent block clubs.
They play an important role in the community by organising local events and meetings.
Moreover, they encourage neighbors to be vigilant which helps to keep crime rates low.
As a result there is high demand for rental property in this area and property prices are rising fast.
This property is 2km to the shops, banks and restaurants on Gratiot Avenue.
This house has 4 bedrooms, 1 bathroom, a living room, a kitchen, a 770 sq. ft. basement and a 4,792 sq. ft. garden.
Your tenants are a husband and wife with 3 children aged 5, 7 and 11.
Their rent is US$ 900 per month.
This property is on offer for US$ 51,998.
Your rental yield is 17.09% net.
That’s US$ 8,888 in your pocket every year.
Want to know more?
Just reply to me.
Remember all our USA investment properties are:
- Fully renovated – average cost of works US$ 20,000
- Already tenanted with pre-screened tenants – you get paid from day one
- Professionally managed – your rent is paid on time into your own bank account
Besides, I won’t offer you unrealistic guarantees which can’t be fulfilled, like some people I could mention.
But I do promise you…
- Your vacancy rates will be very low (last 3 years 3.58% average)
- You will always get paid what you are due
- I will stay right by your side for as long as you own your property
It doesn’t matter if it’s 3 months or 30 years – if you have a problem I’ll be here to help.
Because I know that if you get the returns you are expecting you’ll come back for more.
You might even refer your friends and family, if I’m really lucky.
And unlike many of my competitors I don’t charge you a finder’s fee, an enabling fee or an arrangement fee.
In fact I don’t charge you any fees at all.
So if you’d like full details of what’s on offer in Detroit – just reply to me.
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