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Updated over 9 years ago,

User Stats

116
Posts
20
Votes
Sarah Miller
  • Investor
  • Canton, OH
20
Votes |
116
Posts

Moving right along.. hopefully!

Sarah Miller
  • Investor
  • Canton, OH
Posted

Been a little while BP!  I actually quit my professional career a couple of weeks ago at a Fortune 500 company to make more time for real estate investing and to take care of the kids :-).  We currently have 4 units and we just put an offer on 6 more units!  The seller was already willing to work with us on a special financing arrangement so it is looking promising that she will accept (fingers crossed).  Obtaining 10 units in our first year of 7-8 months of doing business would be awesome!

My question is, some of the tenants are section 8 tenants.  Some all, some portioned for their rent.  If we do win these units, how do I go about changing ownership of the units to collect the metro housing payments?  Do I need to start any part of the process BEFORE we actually close?  Do I personally need to become an 'authorized provider' or since the units are already authorized does it matter? 

Also, these will technically be the first units that are occupied already at our possession.  What are some tips for meeting/calling the tenants?  I was thinking of sending them a letter initially explaining that ownership is changing but that their leases will not be affected etc, etc and then personally meet each of them briefly.  Good approach?  Thanks!

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