All Forum Posts by: Chau Cao
Chau Cao has started 1 posts and replied 2 times.
Post: Purchasing an apt building with LIHTC already in place
Chau CaoPosted
- Investor
- Richmond, VA
- Posts 3
- Votes 1
Thanks for the heads up!
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!