I'll be in the Englewood neighborhood this afternoon researching investment homes with a client. She ownes three in the neighborhood. Basically, in areas with many foreclosed and dilapidated houses, there is need for investors to buy, renovate and care for the homes. The up-kept houses provide affordable low income housing, which is definitely in short supply.
This particular client currently rents homes in conventional lessee situations. But, with the accumulation of homes, she is interested in renting to those in the CHA’s Housing Choice Voucher Program.
Today, we are looking at single family homes in Englewood near Ogden Park. The target home is one that has already been renovated, has current tenants, and has an asking price of $100K or less. I suggested she contact the CHA in the meantime to become eligible to rent to those with CHA vouchers.
Check this report out on participating in the Section 8 program (now called The Housing Choice Voucher program).