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HUD HAP Contract

cjmazur profile photo
  • Sunday, October 08, 2006 @ 12:43 PM EDT
  • 2 Comments
In looking at a 24 unit building I came acress this. It seemed that HUD had a master lease on the building and placed clients in the building.

The building had a poor occupancy rate say <50%, does Hud pay for the empty apts? If not at what point would the owner have relief from the HAP contract to rent the open units at market rate.?

Thanks.
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  • cjmazur
    cjmazur8th October, 2006
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    I like On Target for a basic tool.

  • joel
    joel9th October, 2006
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    A lot of investors use OpenOffice to do the spreadsheet analysis. The SolutionsKid has a spreadsheet that he sells here that is actually pretty good. We have used it in the past for three properties so far.

    So it has helped us.

    I have improved the spreadsheet though, so that it can give me a best case through a worst case scenario. SK only offers 3 scenarios. Mine offers up to 9.

    Hope this helps. OpenOffice can be downloaded free at http://www.openoffice.org

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