Has ne1 bought messed up houses fixed them and rented them to the government through the seccion 8 plan?

Question

if yes how has that worked for you and is there ne tips u could give me so that everything will be a success?

Answer 1

First, you are confused.   The government does NOT rent homes.

Section 8 supplements rent to low income families.

Section 8 dictates what the rent will be, then the families pay you 1/3 of their income, the county pays you the rest.

The county does not screen, is not your legal tenant, will not pay for tenant damages, etc etc etc.   You are not renting to the government and you are solely responsible for deciding who you will be renting to.

They solely pay you a portion of the rent and inspect the property for the tenants benefit once a year.

You will not "be a success" if you do not know who you are dealing with.

Because the inspections are very thorough I would not suggest you buy a "messed up house" but buy one that is pretty close to meeting their standards in the first place.    Unless you have some serious skills and can get property up and occupied within a month this is not a great idea for a beginning investor.

Also keep in mind that banks are going to be wanting at least 30% down for an investment property.    Investment properties are the VAST majority of the foreclosure everyone is crying about and the banks have cracked down.