Investors, interested in becoming a Section 8 or Plan 8 Landlord?
Real Estate Investors are always looking for ways to market their properties. Their marketing will be based on their exit strategy for the individual property. One of the best marketing channels for investors is Section 8. For those of you that are not familiar with Section 8 or Plan 8, go to this web page for a brief explanation at What is Section 8?
The investor's exit strategies come down to
A Section 8 tenant can cover both of these options.
How do Landlords or Investors work with Section 8?
The day the asset is purchased by the investor, he/she is thinking about Cash Flow. More money is going out than coming in. They need to execute their planned exit strategies as soon as possible. ASAP Baby!
A property owner or landlord's main responsibility is to get the property “Cash Flowing” by getting it rented or sold. Yes, that's right, SOLD! Investment properties can be SOLD with a Section 8 tenant living inside the property unit as long as the negotiating parties follow HUD's guidelines for “Change of Ownership”.
Property Owners, Landlords or Investors need to prepare the property for habitation. This means the rehabbing phase has to be quick. The longer it takes, the more money is lost. After the property has been rehabbed, investors need to start working with the local housing authority that administers HUD's Section 8 or Plan 8 program.
How can a Landlords place their property with Section 8?
In order for a property to be eligible in HUD’s Subsidize Housing Program, Section 8 or Plan 8, land lords have to upload information about their property onto several official web sites. Eligible participants, having housing vouchers, can search these web sites to find a suitable property in an area they would like to rent. So, land lords have to list and tenants have to search. Here is a list of authorized Section 8 web sites.
Section 8 Flow Chart.
For the most part, the really hard work is done. Below is a crude flow chart that describes the process of getting a Section Eight tenant after you listed your properties on the specified web sites.
Section 8 Flow Chart
Click on Image for a larger frame.
Implementing Section 8 marketing strategy is not rocket science but participants must stay on top of things to get their properties integrated into the local public housing authority PHA so you can receive a monthly check from U.S. Department of Housing and Urban Development or HUD.
|Bob Burns is an international technology executive with years of experience stimulating growth and increasing revenue through the design and implementation of marketing strategies and product applications for various markets. Adept at forming strategic business alliances, introducing new products and maintaining superior customer satisfaction.Skilled at blending technological expertise with business acumen to drive growth and operating efficiencies. Proficient in a variety of data structures using various content management systems CMS.An effective communicator and trainer in both English and Spanish, experienced in bringing together people, processes and technology.For more information go to Bob Burns LinkedIn Profile.|
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March 31, 2012
Â· Bob Burns Â· No Comments
Tags: cash flow, change of ownership, exit strategy, flip, housing quality standards, hqs, hud, investors, landlord, marketing channels, negotiating parties, pha, plan 8, properties, property owners, real estate, real estate investors, rehabbed, rehabbing, section 8 Â· Posted in: Section 8