481: Section 8 Housing Can Be Lucrative, But It’s A High Barrier To Entry

There’s great money to be made in Section 8, affordable housing. Occupancy is generally very high, and tenancies can last for many years. It’s a recipe for steady, predictable income and high margins. On the management side, however, it can be hard figuring out how to manage lower income, working class tenants, working with local governments to get paid, and doing it at a profit. It takes a special focus and very tight systems. Mike Bonadies, Co-Owner and Managing Partner at TerraVestra properties in rural Southern New Jersey, owns his own portfolio and manages over 900 units for other landlords. The properties in Southern New Jersey are often 100 years old, so in-house maintenance and construction are keys to Mike’s success.