Re: Section 8…“The Future?” - Posted by DJ-nyc
Posted by DJ-nyc on January 06, 2010 at 15:24:27:
Acw,
Thanks for this thread; it got me thinking so I made some calls. One of the Sec 8 workers confirmed that the vouchers that come from nyc leased housing are being phased out… (They have different bureaus that give out section 8 here) HPD’s version of Section 8 says they are okay so far, “who knows” she says… (will keep you posted as the action progresses)
DJ-nyc
Also… - Posted by acw
Posted by acw on January 06, 2010 at 14:55:39:
Forgot to add,…the market in my area has created a TON of RENTAL units available. So…Section 8 tenants are looked at as highly valued tenants (spoken tough in cheek), because their rents are paid directly by the government.
More Foreclosures equals more property for rent as people leave their MANSIONS that they could not afford and just do RENT SKIMMING while their property goes down the drain.
DJ - Posted by acw
Posted by acw on January 06, 2010 at 16:13:21:
DJ…are you “directly in NYC?”
I think you might be ok…but not sure about other places. Dam…this market is moving so fast that by the time you turn around…its changed again.
Looks like i will be selling 2 units that i just aquired…will keep you posted.
Re: Also… - Posted by alex SC
Posted by alex SC on January 06, 2010 at 20:07:38:
So you were located in Florida.Please email me at alexfranks2002@yahoo.com.My partner and I are in SC.Just recently started buying in Florida looking to make some more contacts in the Florida market.
On a different note in Rock hill SC.I love section 8 here in town.Great program here in our town.The city had stopped adding new participants last year.
In today’s real estate market any Section 8 rent is a winner to me.With our system based on cash flow.Most of the area’s I like to buy in SC are low to middle income.So having any section 8 tenant has really been great for us.
Sincerely
Alex
Help the Homeless - Posted by DJ-nyc
Posted by DJ-nyc on January 06, 2010 at 17:25:05:
Cool acw. What state/city are you in?
Dept of Homeless Svcs is the new act here. One year voucher and you must have a job to get the subsidy. They make you save some money and after the year is up; you must pay on your own. I have a young couple on this program; but its risky; we’ll see how they manage to pay their rent when the subsidy ends…we’ll see…
DJ-nyc