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| *Ostroff, Fair and Company>>>Investing |
How do people profit from section 8 housing? |
I would appreciate inputs from all pespectives... loans, development, financing, etc. I don't think anyone above really understood the direction of your question. Section 8 housing has great capacity for profit in the rehabilitation and resale sector. Purchasing section 8 housing that is deemed unfit for living, or just in very bad shape is subject to recieve a certain percentage of federal grant money for housing rehabilitation. Section 8 housing is initially federally funded anyway; so it becomes their responsibility when the housing is purchased for resale and is unfit to be lived in. In conclusion, buy a run down house in the pj's, get free money from big brother to fix it, turn around and flip it for a nice profit. i have no idea I don't think there no profit while on section 8 Section 8 housing isn't "for profit" per se. Although some unscrupulous persons out there may try to profit, its aim is to help the less fortunate in our society who have kids, to realize the dream of living in a house and have some semblance of normalcy. I think that the word profit is misleading in this question. Financial requirements determine who is able to participate in Section 8. There are benefits from being on the program, but keep in mind that it is a lengthy process; the waiting lists are usually very long, to wait years is not unheard of. The most obvious benefit is the rent subsidy. I am sure it is different in various parts of the country, but I believe that participation in the Section 8 housing also makes individuals eligible for other income based opportunities to better themselves and their children. |
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