BUILT explores the changing city in the US and the challenges that will affect housing, infrastructure, neighborhood cohesion, and equity in the coming years. BUILT is a series of research, installation, dialogue, interview, and performance events of varied scale, including the opportunity for public conversation offered at this blog.
This week’s post focuses on the cover of a book by a firm in Texas:
From inside the cover:
“The Section 8 program is a truly public-private relationship that serves the needs of low-income families by providing safe, quality housing opportunities using public funds for financial assistance. Public Housing Authorities (PHAs) manage the Section 8 program within specific geographic areas, and they represent the public side of the public-private relationship. The private side of the relationship is made up of real estate investors who profit by making their investment properties available to the Section 8 program.
As you will see, savy real estate investors reap many benefits from the Section 8 program that others who invest in real estate miss completely. This includes on-time rent collection, long-term tenants, shorter vacancy times, and at market or above market rents. But investors who participate in the Section 8 program get an added benefit that doesn’t relate to the bottom line – they are helping to serve the public interests by providing housing to those less fortunate.
Given all these benefits, the natural question that comes to mind is “Why don’t all real estate investors participate in Section 8?” Why indeed.
Once a new investor said to me, “I can do what you do and save money.” I said, “Exactly! I want you to be able to do what I do. That way, more Section 8 clients will have a decent place to live. However”, I also told him, “if you ever find yourself in legal trouble would you represent yourself, or have an attorney represent you? And if you chose to represent yourself, do you know how to properly defend yourself?”
If you are serious about your investments I would urge you to seek professional representation to ensure you are getting the most out of your investment and to reduce the time that you must invest in each property.
Having said that, this book will give you some tips on how to not only defend yourself, but will show you how to work within the Section 8 program to save you time and a lot of frustration.
Buy the book – Learn the process – Make a difference for yourself and your community!
One might ask, What exactly is this book selling? How is it selling it?