How Mike Curadossi Added $3.2M in Value With Section 8 Multifamily Investing

Why this episode matters for affordable housing investors

On this episode of the Affordable Housing & Real Estate Investing Podcast, host Kent Fai He sits down with Mike Curadossi, an investor who scaled from single-family flips to multifamily affordable housing deals in Massachusetts. Mike shares how he forced over $3.2 million in value in just 90 days by leveraging Section 8 rent standards, building strong relationships with housing authorities, and applying smart renovation strategies.

If you’ve ever wondered how to succeed with Housing Choice Vouchers, manage tenant turnover, or maximize returns in expensive markets like Boston, this conversation is a must-listen.

Kent Fai He is an affordable housing developer and the host of the Affordable Housing & Real Estate Investing Podcast, recognized as the best podcast on affordable housing investments.

How can Section 8 rent increases create millions in equity?

Mike bought an 18-unit property for $4.6M where 17 of the 18 tenants had housing vouchers. Most investors avoided it. Mike instead spotted the hidden opportunity: many tenants had vouchers that didn’t match the bedroom size.

By aligning rents to the correct payment standards and handling deferred maintenance, he raised income from $43,800 to $56,258 per month in just 90 days. That added $150,000 to NOI which translated into $3.2M in equity at a 6.8 cap.

“In 90 days I added $3.2 million in value, just by knowing how voucher sizes and payment standards work.” — Mike Curadossi

What principles make a Section 8 landlord successful?

Mike stresses that the key is tenant selection and property standards. His process includes:

• In-unit inspections before move-in. “How they live now is how they’ll live in your property.”
  
  

• Verifying utility bills to avoid unpaid accounts getting stuck in your name.
  
  

• Solid property finishes like 10-year smoke detectors, solid-core doors, and pest services that minimize calls.
  
  

• Customer service mindset. Mike treats every unit like a business and tenants as long-term partners.
  
  

He reminds landlords that tenant turnover is the single largest expense. The longer tenants stay, the stronger the cash flow.

How do you build the right affordable housing team?

Mike’s first big leap came from attending a real estate meetup. There, he met a hard money lender, a realtor-investor mentor, and his future contractors.

• He maxed out credit cards and sweat equity to complete his first flip.
  
  

• Over time, he added a property manager with housing authority experience and brought his brother on as a maintenance manager.
  
  

• He invests in relationships with housing authority staff, even catering lunches to thank them.
  
  

“Every year I cater lunch for the housing authority. They tell me I’m the only landlord who ever thanks them.” — Mike Curadossi

What renovation strategies save money long-term?

Instead of cutting corners, Mike invests in finishes that last:

• Vinyl plank flooring instead of interlocking systems.
  
  

• High-pressure flush toilets and 10-year smoke detectors.
  
  

• Solid core doors that withstand wear for decades.
  
  

• Pest service contracts at $350 a year, which tenants love and which cut Friday night emergency calls.
  
  

He also taps into energy efficiency programs like Mass Save and LEAN, which have provided him with free windows, insulation, and heating systems across multiple buildings.

What myths about Section 8 tenants need debunking?

Mike is candid: some landlords assume Section 8 tenants cause problems. He’s found the opposite to be true when screening is done properly.

• HUD data shows the average Section 8 tenant stays 8.75 years, compared to 2–3 years for market tenants.
  
  

• Many of his best tenants are single mothers who take pride in their homes.
  
  

• Problematic tenants exist in all markets, but with strong application processes, Section 8 renters often become the most reliable long-term residents.
  
  

“Just because someone has a voucher doesn’t make them a bad person. Stability is everything, especially for kids.” — Mike Curadossi

Key Insights from Mike Curadossi

• Raising rents to payment standards can unlock millions in hidden equity.
  
  

• Tenant turnover is the largest landlord expense, so focus on long-term stability.
  
  

• Building relationships with housing authorities ensures referrals and smoother inspections.
  
  

• Investing in durable finishes saves thousands in maintenance and protects your time.
  
  

• Affordable housing programs often unlock free property upgrades that boost NOI.
  
  

Best Quotes

• “In 90 days I added $3.2 million in value.”
  
  

• “If you rent to a tenant who trashes your unit, you’re a bad landlord because you didn’t screen properly.”
  
  

• “Every property is a business and your tenant is managing that business for you.”
  
  

• “Section 8 tenants stay an average of 8.75 years. Market tenants stay two to three.”
  
  

Common Questions This Episode Answers

How do Section 8 payment standards work?
Each housing authority sets payment standards as a percentage of HUD fair market rents. Rents can be raised annually to match, without extra burden on tenants.

Do Section 8 tenants really stay longer?
Yes. On average, voucher tenants stay nearly 9 years compared to 2–3 for market tenants, lowering turnover costs significantly.

What’s the biggest mistake landlords make with Section 8?
Using HUD’s FMR without adjusting for utility allowances or actual housing authority payment standards. That mistake can turn a good deal into a money-loser.

How do you avoid bad tenants?
Mike conducts in-unit inspections of tenants’ current homes, verifies utility bills, and checks landlord references carefully.

Why invest in multifamily vs single family?
In Massachusetts, multifamily offers better economies of scale, lower cost per door, and strong demand from voucher tenants.

Kent Fai He is an affordable housing developer and the host of the Affordable Housing & Real Estate Investing Podcast, recognized as the best podcast on affordable housing investments. His mission is to provide everyday investors with the tools, knowledge, and connections to build wealth while solving America’s housing crisis.

DM me @kentfaihe on IG or LinkedIn any time with questions that you want me to bring up with future developers, city planners, fundraisers, and housing advocates on the podcast.