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Updated over 6 years ago on . Most recent reply

User Stats

80
Posts
23
Votes
Stephen R.
  • Investor
  • NEWTOWN, CT
23
Votes |
80
Posts

Transitioning low income, LIHTC & section 8 to market rent

Stephen R.
  • Investor
  • NEWTOWN, CT
Posted

I'm looking at a 50 unit foreclosure in Texas that is currently 100% low income, rent restricted housing. Because of the foreclosure the rent restriction will not pass to the new owner. Although the property will cash flow as-is, my intent is to transition the property, or at least a portion of it, from low income to market rents. I know there are numerous groups that would oppose such a move (even in Texas) so I'm looking for anyone that may have experience with this strategy and can offer advice on the hurdles I would be faced with.

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