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How can I start investing in Section 8 housing in Houston, TX?

I am thinking about partnering up with a friend of mine and invest in Section 8 housing. What's the process and how long does it take?

Public Comments

1. You have to contact the local county or city Housing Authority under HUD to become a Sec 8 landlord. In my county you must commit to a year and be subject to annual maintenance inspections of your property as well as an initial inspection. You get the tenant's share paid directly and the majority of the rent paid by the local Housing Authority each month. You can check a prospective tenant for credit, criminal history, tenant history, employment and so on just like any other tenant. If you agree to the program and Housing sends you some tenants, you must take them if they pass the checks.
2. Houston, with a population of more than two million people, is the largest city in Texas, and as such has many business opportunities. Houston does not have a general business registration requirement and fee, but if you plan to open a food provider business you will need to get permits from the Houston Department of Health, and other licenses may apply depending on the business you are opening. Instructions: 1. Develop a business plan. Outline your business objectives, aims and steps. A business plan will is a guide that will give you the steps you need to start your business and may help you get financial backing for your business. Write an outline describing what your Houston business focus will be, your marketing methods, and your competition. Determine how you will manage the business, hire employees, and insure the business. Include financial aspects and budgeting in your business plan. 2 Find or decide on the space your business will operate in. If it is a home business designate a space in your home which will be used specifically to operate your business in. If you are opening a storefront, find a location with the appropriate street and sidewalk traffic, but one that also has plenty of parking space available. 3 Decide on the legal structure of your Houston business. You can decide to work as a sole proprietor, a Limited Liability Company (LLC) or as a corporation. Seek the help of a financial expert to best determine the legal structure of your business. File your structure with the Texas Secretary of State if you decide to form an LLC or corporation. 4 Go to the Internal Revenue Website)and apply for your Employer Identification Number. You will need this number to open a bank account for the new business. 5 Register for your tax permit if you are selling products, or any other type of permit at the Harris County Tax Office. 6 Contact the Texas Department of State Health Department to find out about health regulations, or permits you may need. Fill out an applications for a Texas food retail permit if your business is selling food. 7 Organize your business, products and start running your new Houston business.
3. You don't invest in Section 8 housing... you buy apartment complexes or houses and then get with HUD so you can comply to their check list of what shape the property has to be in. They will send out an inspector to see whether your *investment* is up to their standards.
4. Don't do it. You don't want the kind of riff raff that uses Section 8 housing in anything you own.