All Forum Posts by: Jeremy Kloter

Hey,

Yes you can put a home on the market to tenants both regular and Sec 8. You must get approved by the housing authority once you buy it, or a local property manager (like us) are already approved if you desire to hire a mgmt company.

I believe they will allow you to rent to family member on Sec 8 but I'd have to double check with the local housing authority.

If you hired a 3rd party mgmt company you could possibly get around it but I feel its a little sketchy if you're still family but just trying to use a spouse, theres tons of Sec 8 applicants so I wouldn't take an unnecessary risk of trying to game the system.

You could do an LLC, generally a rental would be best NOT held in your personal name, but even if you are behind the LLC you'll still need to disclose to sec 8 that you are a family member. DM me to chat more...

From a liability standpoint it generally makes sense to use a LLC or Land Trust plus other factors like taxes etc... If you are going to hold long term absolutely get it out of your personal name, DM me if you want to chat more.

There are multiple options but the main difference is if it is going to be owner occupied or bought as a rental and or LLC. We see most likely doing conventional or FHA for owner occ but DM me we have a few financing options.

In my opinion, on your first one, find a good MLS property for FHA. You'll get the right inspection period you need and you won't be banging your head against the wall on some type of off market stuff for FHA. This could be a more in depth discussion but reach out if you want to chat more.

Yes we have recommendations!

Hey, as Rick said... we're happy to chat! PM me.

We run a property management company, we never allow entities on the lease.

Thanks @Colin Reid for the tag!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $225,000

Home (Primary Residence) with detached MIL suite used on long term/short term rental.

Not a lot of investors do, personally I wouldn't touch one right now with days on market getting longer especially in higher end homes not to mention time of rehab. I think the vast majority would do great just flipping 250k or less where all of your buyers are. Mainly the market right now is what would make me weary.