Is section 8 easy to get in dallas?

[03mustangdude]

Friends father is in poor health and he has a condo he wants to sell fast in north dallas. He usually rents to section 8 since he gets more money and less problems in dallas.

I thought section 8 individuals were worse to rent to? Also if I were to buy said condo how hard would it be to become a section 8 approved landlord?

[krazy kris]

From what I've heard is that section 8 renters are better renters. For example the rent is always paid and they have to keep the place up like they moved in or they lose their section 8. But there is a long list of people waiting to get on section 8 if someone loses their section 8 they know its going to be a long wait.

[03mustangdude]

so that is better for the homeowner then, so why would most people who rent not try to rent to section 8 individuals?

[Forever_frost]

so that is better for the homeowner then, so why would most people who rent not try to rent to section 8 individuals?

From what I understand, you're limited on what you can charge.

[03mustangdude]

This place should rent for about 750-800 a 570sq ft rents for 625 with no washer dryer. This one is a 725 with w/d

[bobs94formula]

From what I understand, you're limited on what you can charge.

It all depends on what you are renting. If it's a 3 bdrm it'll go for more. Owners are getting $1000+ month from section 8 for 3 bdrm houses in Terrell. This is for sub $90k houses too.

[Sean88gt]

Section 8 should be super easy to get now, it pays the payment on the White House.

[03mustangdude]

So is it hard to be qualified to rent a section 8? So far it sounds like a hell of a deal. 42k for condo 100 a monyh for taxes 180 for hoa if I get 800 via section 8 itll pay for itself in 7 years

[YALE]

If it's a condo, the complex may have rules against renting to section 8 renters. Do the due diligence before you decide to buy, and look through all the rules. Also, if you're getting a loan on it, you have to have way more down if it's an investment, than if it were your residence.

[03mustangdude]

If it's a condo, the complex may have rules against renting to section 8 renters. Do the due diligence before you decide to buy, and look through all the rules. Also, if you're getting a loan on it, you have to have way more down if it's an investment, than if it were your residence.

cash is king. Complex doesn't have any rules against renting to section 8 when I called this morning but I would like to read thru the hoa bi-laws since there could be a provision like 50% of complex has to be owner occupied or something like that right?

[onemeangixxer7502]

From what I've heard is that section 8 renters are better renters. For example the rent is always paid and they have to keep the place up like they moved in or they lose their section 8. But there is a long list of people waiting to get on section 8 if someone loses their section 8 they know its going to be a long wait.

I dont know about all that. It may be a bitt different as well. My G/fs dad has close to 200 low income apartments and several houses. He uses the housing authority, they pay part of their rent. The people come and go though but he always has a steady flow of people who qualify. They seem to be plentiful though

['90Vert]

Use Google to find a book 'Section 8 Bible'.
Lots of red tape, your house will get trashed, but rent will be paid on time.

I own 10 properties and will NOT let section 8 in.

[03mustangdude]

Use Google to find a book 'Section 8 Bible'.
Lots of red tape, your house will get trashed, but rent will be paid on time.

I own 10 properties and will NOT let section 8 in.

good book to read trying to find a copy but amazon is sold out and dont want an ebook.

[03mustangdude]

I found a condo near fort worth off bryant irvin and vickery for 15k and the houses across the street are 300k+ houses. Would that not be a decent investment just to buy it rent it for like 400-500 a month Want to start somewhere