Success story: First Section 8 property cash flows $400/month
DEDeleted User•22 days ago
Just wanted to share a quick win!
Closed on my first Section 8 property last month - a 3BR/2BA in Ohio. After all expenses, I'm cash flowing about $400/month.
Purchase: $85k
Rehab: $12k
FMR: $1,250
Actual rent: $1,200
Mortgage + insurance + taxes: $650
Vacancy/repairs reserve: $150
Net: ~$400/month
Tenant moved in this week with voucher already approved. The PHA inspection went smoothly after fixing a few minor items.
On to the next one! Thanks to this community for all the guidance.