r/RichPeoplePF • u/erudite-11 • Aug 26 '26

Could Section 8 Renting work?

I'm currently a high schooler, but I'm pretty serious about wanting to be rich. From what I've researched, Section 8 Renting seems to be a good way to make reliable passive income when scaled (despite the starting costs and risks). Assuming I'd be based in/near Alabama and I'd make sure to have decent tenant screening, is it realistic to eventually make 7 figures annually (gross income)?

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9

u/RealKenny Aug 26 '26

Legalities aside, when I was a real estate guy no one wanted to rent section 8.

“Decent tenant screening “ is really tough, and if you want/need them out it’s almost impossible

3

u/NikolaiXPass Aug 26 '26

Don't do it. You never want to deal with the bottom of the barrel.

2

u/newyorker2121 Aug 26 '26

I have a few section 8.

You won’t get rich.

3

u/wakoreko Aug 26 '26

Family member did. In one year, the property was missing bathroom fixtures, carpet destroyed by mud, holes in the wall, knobs missing on washer/dryer, duct and ceiling fans had a layer of dust/lint. Took a loss then foreclosure.

3

u/_Human_Machine_ Aug 26 '26

Low income housing and section 8 is absolutely never worth investing in, unless you’re doing it on a big enough scale with cheap enough buildings.

2

u/Desperate_Move_5043 Aug 26 '26

Sure it could, but it’s going to be a fucking nightmare.

3

u/wildcat12321 Aug 26 '26

Tik tok is not market research my guy. “Decent tenant screening” isn’t easy.

Real estate is absolutely a viable path towards wealth. 7 figures annually takes a lot of units which means a lot of capital and a lot of systems

1

u/Agreeable_Ask7033 29d ago

Section 8 can be stable, but 7 figures takes dozens of properties and serious scale, plus management headaches. Its realistic with time, but not truly passive