All Forum Posts by: Account Closed

@Kristen Snedeker

Kristen, Are you still with True Home Ohio as your PM? I'm actively looking for PM in Cincinnati area. If you could send me a PM, that would be great! Thanks!

@William Durel 

William, were you able to find good PM in Cincinnati?

@Suji Seo welcome to BP. Another Canadian here investing in US from Canada.

There is a FB group you can join. Canadian buying U.S. real estate.

Hi BP experts,

I have one question for Canadians who invest rental properties in US.

I understand that LP (99%) and LLC (1% dummy entity as GP) is preferable way to set up to avoid double taxation.

Does LLC (dummy entity) require to buy the property and sign the leases with tenants as GP? Or does LP needs to buy the property and sign the leases?

Thanks!

@Matt Bishop thank you for your advice! Hopefully I can smile after a year with this first purchase :)

@Tom Dickerson Cincinnati area

@Michael Paling thanks so great that your tenant took care of inspection and notified you. How was your experience so far? Are you using PM for your property or taking care it by yourself?

@Tom Dickerson thank you Tom. In terms of inspection, does HA inspect only the section 8 unit or all the common areas including basement, etc? And yes please kindly send me a DM with your PM referral. Thank you!

@Michael Paling thank you for your response. I will definitely need to reach out to the HA agent for my section 8 unit. How was your inspection? It seems it really depends the location and agent. Sometimes it can be really picky or so smooth. Thanks again!

Hi experts!

I recently purchased multiplex in Ohio. One of unit is occupied with section 8 tenant who is paying lower than a market rent (also lower than current section 8 rent).

I’d like to confirm the following items:

1. Do I need to submit an ownership change form?

2. Current condition of the building and unit needs some repairs and maintenances. If I request a written request (assuming it passed 1 year period), is there any chance that section 8 rent can be decreased because of the unit/building condition?

3. I’ve heard horror stories re section 8 in Ohio area. Should I send a lease termination letter to the tenant since it is currently MtoM and find new tenant?

I am new to all of these and want to hear from others who have more experience.

Thank you!