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All Forum Posts by: Chau Cao

Chau Cao has started 1 posts and replied 2 times.

General Real Estate Investing

Post: Purchasing an apt building with LIHTC already in place

Chau CaoPosted
  • Investor
  • Richmond, VA
  • Posts 3
  • Votes 1

Thanks for the heads up!

0 Votes
General Real Estate Investing

Post: Purchasing an apt building with LIHTC already in place

Chau CaoPosted
  • Investor
  • Richmond, VA
  • Posts 3
  • Votes 1

Hi everyone.  I am getting ready to purchase an apt building that has LIHTC for another 8 years.  The owner already received tax credits and I will of course be getting nothing from LIHTC. My question is whether I have to follow their rent cap restrictions being that it was not my contract with LIHTC. Can I go back to market rent going forward?  The owner has already finished their original 15 years with LIHTC and this is their second term.  Thanks!

1 Vote