All Forum Posts by: Sam Cherry

This is the letter you need to send not to your tenant but to your representative.

Dear President/Govenor/Senator/Congressman/HUD Secretary/Govenor (You Fill in the blank)

Thank you for all that you are doing to help citizens and businesses affected by COVID-19.

As you are aware, Landlords provide a vital service to many millions of American. We provide safe and affordable housing to citizens who can't afford to purchase homes themselves.

Second only to to food, shelter is important as a basic need that no American should live without.

This is why I am writing to you to ask for help in the implementation of emergency changes to the Federal Housing and Urban Renewal Section 8 program.

As a landlord I propose the following:

The qualification for Section 8 should be opened to all unemployed American receiving unemployment benefits.

All Landlords who file a IRS Schedule E are eligible to receive benefits based on properties listed on their Schedule E for 2018 or for any 2019 tax return filed.

Section 8 will waive the home inspection and Landlord requirements for the participants in this emergency program and will not remove the traditional application process for those seeking to participate in the Section 8 program. Section 8 will only provide payments while the citizen is receiving unemployment insurance.

This emergency program requirements are easily verified for participates through the unemployment insurance offices and the Internal Revenue Service.

The program limits payments only for the rent amount. At the end of the year the citizen receiving benefits will receive a 1099-MISC for rent paid subject to their tax bracket.

The Landlord will receive a 1099-MISC which they will file with their Schedule E as rent received. This will not require any tax difficulty for the landlord and is subject to depreciation and valid deductible property expenses.

This provides benefits to two segments of the population simultaneously, efficiently, and seamlessly.

Housing and Urban Development is the correct office to manage this program and provide rapid relief to the people who need it the most.

I can be reached for further questions at.........

Thank you,

J.Q. Landlord

Learn more here

https://www.biggerpockets.com/...

This is the letter you need to send not to your tenant but to your representative.

Dear President/Govenor/Senator/Congressman/HUD Secretary/Govenor (You Fill in the blank)

Thank you for all that you are doing to help citizens and businesses affected by COVID-19.

As you are aware, Landlords provide a vital service to many millions of American. We provide safe and affordable housing to citizens who can't afford to purchase homes themselves.

Second only to to food, shelter is important as a basic need that no American should live without.

This is why I am writing to you to ask for help in the implementation of emergency changes to the Federal Housing and Urban Renewal Section 8 program.

As a landlord I propose the following:

The qualification for Section 8 should be opened to all unemployed American receiving unemployment benefits.

All Landlords who file a IRS Schedule E are eligible to receive benefits based on properties listed on their Schedule E for 2018 or for any 2019 tax return filed.

Section 8 will waive the home inspection and Landlord requirements for the participants in this emergency program and will not remove the traditional application process for those seeking to participate in the Section 8 program. Section 8 will only provide payments while the citizen is receiving unemployment insurance.

This emergency program requirements are easily verified for participates through the unemployment insurance offices and the Internal Revenue Service.

The program limits payments only for the rent amount. At the end of the year the citizen receiving benefits will receive a 1099-MISC for rent paid subject to their tax bracket.

The Landlord will receive a 1099-MISC which they will file with their Schedule E as rent received. This will not require any tax difficulty for the landlord and is subject to depreciation and valid deductible property expenses.

This provides benefits to two segments of the population simultaneously, efficiently, and seamlessly.

Housing and Urban Development is the correct office to manage this program and provide rapid relief to the people who need it the most.

I can be reached for further questions at.........

Thank you,

J.Q. Landlord

Learn more here

https://www.biggerpockets.com/...

All,

I have extensive background in government programs and how this works. All it requires is the correct collaboration between the IRS, HUD, and government programmers.

It can be done completely online without the need to fill out forms and stand in line.

THE GOVERNMENT ALREADY HAS THE DATA FROM TAX FORMS AND THE UNEMPLOYMENT OFFICE.

THIS IS TOO EASY.

PERIOD.

For those who have requested a letter here goes:

Dear President/Govenor/Senator/Congressman/HUD Secretary/Govenor (You Fill in the blank)

Thank you for all that you are doing to help citizens and businesses affected by COVID-19.

As you are aware, Landlords provide a vital service to many millions of American.   We provide safe and affordable housing to citizens who can't afford to purchase homes themselves.

Second only to to food, shelter is important as a basic need that no American should live without.

This is why I am writing to you to ask for help in the implementation of emergency changes to the Federal Housing and Urban Renewal Section 8 program.

As a landlord I propose the following:

The qualification for Section 8 should be opened to all unemployed American receiving unemployment benefits.

All Landlords who file a IRS Schedule E are eligible to receive benefits based on properties listed on their Schedule E for 2018 or for any 2019 tax return filed.

Section 8 will waive the home inspection and Landlord requirements for the participants  in this emergency program and will not remove the traditional application process for those seeking to participate in the Section 8 program.   Section 8 will only provide payments while the citizen is receiving unemployment insurance.

This emergency program requirements are easily verified for participates through the unemployment insurance offices and the Internal Revenue Service.   

The program limits payments only for the rent amount.  At the end of the year the citizen receiving benefits will receive a 1099-MISC for rent paid subject to their tax bracket.  

The Landlord will receive a 1099-MISC which they will file with their Schedule E as rent received.   This will not require any tax difficulty for the landlord and is subject to depreciation and valid deductible property expenses.

This provides benefits to two segments of the population simultaneously, efficiently, and seamlessly.

Housing and Urban Development is the correct office to manage this program and provide rapid relief to the people who need it the most.

I can be reached for further questions at.........

Thank you,

J.Q. Landlord

What I am saying is the Federal Government needs to make emergency changes to Section 8 to allow us to do this.  They haven't yet.  It is quite simple and straightforward to do.

The government has chosen to use the wrong tool to address the problem.

Okay, I understand so you fill out a LOAN application for a Grant?

I am not trying to knock anything, but the wrong solution is being applied for.

If you get 10K then fine, but if you need more then you will get a loan which means you will pay it back.

With section 8 you receive what you need based off of the tenant.  And can run as long as needed for as many tenants as needed.

I will monitor your post and see how many people get 10k grants and how many are told it is a loan instead of a grant.

I am already seeing people ask questions that are showing the SBA "solution" is a pretext to fraud.  Although fraud can be done in section eight this is a two part process.  The tenant must qualify for unemployment and you can only use verifiable property that is on your Schedule E.  Both are easily verifiable and a robotic process can be written by a programmer to verify without human intervention.

Again the wrong department with the wrong solution is be applied to wrong problem.  

The solution is total accountability and visibility for both landlord and tenant.

The only reason for the SBA solution is to make BANKS rich at our expense while paying lip service to the problem.

Please help me get the word out and send this to every person you know on BP.  That is what BP is for.

The wrong department is running the "solution"

This the correct way to do this.  Not the SBA.  Warning Investors the SBA is not the solution this is .....

https://www.biggerpockets.com/...

Do we ask the Department of Defense to run programs for the Department of Education? No.

Then why is the SBA(Department of Treasury) running a program for Housing and Urban Development?