Section 8 housing...does the government help with grants or anything else?

Question

I am just curious if there are any grants or other programs where the government pays for part of the purchase of a home/1-4unit if it is going to be used for Section 8 housing? I was told that there are programs where the government can give people grants or funding to start something like this up. I was told that since there is a waiting list of 3+ years for section 8 housing, there is a huge demand for it. Was I missinformed or is there anything out there like this? I want to purchase homes/units and get rental income from the government for section 8 residence. Any help would be appreciated.

Answer 1

You were misinformed.  Properties which qualify for tenancy under Sec. 8 are owned privately by landlords.  There are a few simple criteria which need to be met to qualify the property for Sec. 8 approval.

You are correct in that waiting lists for Sec. 8 housing are lengthy, but NOT for the reasons you think.  There are more than enough properties available for Sec 8 renters.  The problem is that Sec 8 funds are limited, and THAT is the reason for the lengthy waits.

Answer 2

http://www.governmentgrantsearch.com/art... hope this helps

Answer 3

You are free to purchase and sign up for section 8, but the government is not going to line your pockets by purchasing your property for you.

The waiting list for vouchers is not from lack of properties willing to accept them, it is just that there are limited funds to pay them.    Each county has say, 1 million a month for vouchers, once they give that 1 million away to renters there is nothing more.     The waiting list is to receive money, not find a place to rent.