All Forum Posts by: Tina Wang

@Account Closed what do you mean? 

Oh, I have not. I can still hold properties under check book SDIRA? 

Is there any good lower cost SDIRA company that any of you are happy with? I currently use New Direction Trust Company, but their fee structures have been increasing. So I'm shopping around to see if there are other trust worthy one out there.  

I’m looking at SIMM capital’s (Matt Simmons as the founder/syndicator) affordable housing project and was wondering if anyone here have heard anything about them?

They have listed Bigger Pocket as one of their partners, so I’m doing my due diligence.

Hi Marco,

Jacksonville, Florida.

I found a rental property with HUD tenant in it. Would this negatively effect the property and complicate things? This is not the same as section 8, correct? My goal is to buy and hold.

While I researched HUD, but I still want to post this to get feedbacks.

U.S. Department of Housing and Urban Development (HUD) administers Federal aid to local housing agencies (HAs) that manage the housing for low-income residents at rents they can afford.

A couple of things re: HUD

1. The house has to pass inspection standards prior to an approved HUD tenant can move in.

2. The tenant has to qualify with HUD's rules and regulations

3. If the tenant fails to maintain HUD qualified status for whatever reason, the tenant will no longer be able to received HUD

4. Prior to the tenant re-leasing upon lease end date, another HUD inspection is required to make sure the home is still up to standard and that the tenant is upholding their end of taking care of the property.

5. HUD's portion of payment comes directly from their organization to the property management company.

Each homeowner has the choice whether they want to accept HUD or not for their property.