3059 E 73rd St
Cleveland, Ohio · USA
Acquired · renovation in progress
Two-storey single-family home with vinyl siding, covered entry porch, rear entrance, yard and driveway.
Pilot Concept
Valtora US Income I
Section 8 Real Estate Portfolio · Ohio, United States · EVERCREST OHIO LLC
Deal Volume
USD 700,000
Structure
Secured Loan
Asset Type
US Section 8 RE
Location
Ohio, United States
Why This Deal?
Housing Authority-Supported Rent Structure. Ohio Market.
The U.S. Housing Choice Voucher Program (Section 8, HCV) can provide a more structured rental income profile because a portion of the rent may be paid by the local Housing Authority under a valid HAP contract. Eligible tenants pay a portion of their rent directly; the remainder is paid by the Housing Authority directly to the landlord — subject to program compliance, valid HAP contract, and ongoing inspections. This does not eliminate risk. Payments depend on tenant eligibility, property approval, inspection standards, rent reasonableness, local Housing Authority processes, and continued compliance with program rules.
Ohio is among the most active Section 8 markets in the United States. The state has a well-established HCV infrastructure, strong housing authority demand, and a deep inventory of single-family homes that qualify for the program. Acquisition prices in Ohio's secondary markets remain significantly below the national average, while Section 8 payment standards (SAFMR-based) have remained stable or increased year-over-year.
- Portion of monthly rent may be paid by Housing Authority under valid HAP contract
- Ohio secondary markets: lower acquisition cost vs national average
- SAFMR-based payment standards: stable and rising trend
- Established HCA infrastructure with active voucher demand
Valtora's Approach to Section 8
For Valtora, Section 8 is not sold as a guarantee. It is used as a disciplined real estate strategy with documented underwriting, property-level reporting, and operational controls. Each property must pass rent reasonableness review, HQS pre-inspection, and Housing Authority demand confirmation before acquisition. The strategy is based on documented process — not on assumptions of guaranteed government payment.
The Asset
Single-Family Homes in Ohio — Section 8 Qualified
EVERCREST OHIO LLC acquires single-family residential properties in Ohio markets where Section 8 demand is confirmed by the local Housing Authority. Each property is selected based on a structured underwriting checklist before acquisition — including SpotCrime safety screening, HQS pre-inspection compliance review, rent reasonableness verification, and at least three unsubsidized comparable rents.
The target is a portfolio of individual properties managed under a single Ohio LLC, with rental income collected on a monthly basis. Properties are selected for cash-on-cash return potential, not for appreciation. The investment thesis is cash flow, stability, and a structured 36-month hold — not speculative price appreciation.
EVERCREST OHIO LLC — Incorporated 15 May 2026. Ohio Secretary of State. Document ID: 202613500100.
Valtora — Pilot Concept · Pre-Access
Valtora US Income I
PRE-ACCESS
Min. Investment
On request after
qualification
qualification
Target Raise
USD 200,000
Target Return
8–12% p.a.*
Structure
Secured Loan
SPV
EVERCREST OHIO LLC
Jurisdiction
Ohio, USA
Hold Period
36 months
Currency Risk
USD / EUR
Pre-Access Status
30%
* Forward-looking estimate only. Not guaranteed. No return, distribution, or capital preservation is guaranteed. Investments in real assets involve significant risk including total capital loss. Qualified investors only. Subject to full legal documentation and individual assessment.
Pilot Properties
Two properties are already in the portfolio.
Both were acquired by EVERCREST OHIO LLC in Cleveland, Ohio and are being prepared for Section 8 (HCV) tenancy. The photos show the acquisition state — renovation is in progress.
12013 Gay Ave
Cleveland, Ohio · USA
Acquired · renovation in progress
Craftsman-style bungalow with brick porch, fenced front yard, side access.
Held by EVERCREST OHIO LLC (Ohio Secretary of State). Property documents, inspection reports and HAP paperwork are in the data room after qualification.
Investment Structure
How the Money Flows
EVERCREST OHIO LLC acquires Ohio Section 8 properties using its own capital and fully owns the real estate. Investor capital is provided as a secured intercompany loan — backed by the property value as collateral.
1
Investor → Valtora LLP
European investor signs a subscription agreement with Valtora LLP (Lithuania). Funds transferred via standard bank transfer in EUR.
Subscription Agreement
2
Valtora LLP → EVERCREST OHIO LLC
Valtora LLP provides a secured intercompany loan to EVERCREST OHIO LLC. The loan is backed by the property as collateral. Term, interest rate, and repayment schedule are defined in the loan agreement.
Intercompany Loan Agreement
3
EVERCREST → Ohio Properties
EVERCREST OHIO LLC owns the properties and may collect Housing Authority payments under valid HAP contracts. Rental income is used to service the intercompany loan. All payments are conditional on program compliance and property eligibility.
Section 8 Rental Income
Deal Economics
Underwriting Assumptions & Financial Model
These are target metrics based on the Ohio Section 8 market and our acquisition criteria. Actual results depend on property performance, occupancy, and market conditions.
Underwriting Assumptions
| Gross Rent / Month | USD TBD per property |
| Vacancy Allowance | 6% |
| Property Management | 10% of gross rent |
| Maintenance Reserve | 8% of gross rent |
| CapEx Reserve | USD 100 / month |
| LTV (if financed) | 75% max |
| Target DSCR | ≥ 1.25 |
| Cap Rate Target | 8–10% |
| Cash-on-Cash Return | 8–12% p.a. (est.) |
| Hold Period | 36 months |
| Exit Strategy | Portfolio sale or refinance |
These are target metrics. Actual returns depend on property performance, occupancy, and market conditions. This is not a guarantee of return.
Investor Fee Schedule
| Subscription amount | One-time subscription fee |
| EUR 10,000 – 14,999 | 5.0 % |
| EUR 15,000 – 29,999 | 3.0 % |
| EUR 30,000 and above | 1.5 % |
Charged once on the subscribed amount at signing. Property-level costs (management, reserves) are shown in the underwriting table above. Indicative — the binding terms are set out in the subscription agreement provided after qualification.
Property Selection Criteria
SpotCrime check within 0.5–1 mi radius — crime score threshold applied
HQS Pre-Inspection compliance review before offer
Section 8 Housing Authority demand confirmation in target zip code
Rent Reasonableness check per Housing Authority guidelines
SAFMR / Payment Standard alignment — rent within approved range
Minimum 3 unsubsidized rent comparables to support rent reasonableness
Risk Factors
Key Risks to Consider
All investments carry risk. The following are the primary risk factors specific to this offering. Review the full Risk Disclosure and Investment Memo before investing.
Vacancy & Re-tenanting Risk
If a Section 8 tenant vacates, the property must pass a new HQS inspection before the next Section 8 tenant can move in. Re-tenanting timelines can vary from a few weeks to several months, reducing cash flow during that period.
Section 8 Inspection Failure Risk
The Housing Authority conducts annual HQS inspections. If a property fails inspection, subsidy payments may be suspended until deficiencies are corrected. Unexpected repair costs may arise to maintain compliance.
Property Management Risk
Performance of the portfolio depends significantly on the quality of local property management. Delays in repairs, poor tenant screening, or administrative failures can reduce effective rental income and increase costs.
Currency Risk (USD / EUR)
Rental income is generated in USD. Returns to European investors are distributed in EUR or USD. Fluctuations in the USD/EUR exchange rate may affect the effective return in euros, positively or negatively.
Regulatory & Housing Authority Risk
The Section 8 program is federally funded and locally administered. Changes in federal housing policy, PHA funding, or local regulations could affect payment standards, voucher availability, or program eligibility — impacting projected cash flows.
Liquidity Risk — No Secondary Market
This is a private placement with a fixed 36-month hold period. There is no secondary market for investor positions. Investors should be prepared to hold their investment for the full term. Early exit is not guaranteed.
Investment Timeline
From Capital Raise to Exit
Q2 2026
Capital raise open. Investor onboarding & KYC.
Q3 2026
Property acquisitions begin. EVERCREST OHIO LLC deploys capital.
Q3 2026
First Section 8 tenants in place. Rental income commences.
Q4 2026
First quarterly investor report issued.
2027–2028
Portfolio stabilization. Quarterly reporting continues.
Q2 2029
Target exit: portfolio sale or refinance. Capital returned.
Data Room Access
Access the Full Data Room
Qualified investors can access the complete investment documentation including the Investment Memo, LLC formation documents, financial model, property criteria, and legal structure.
Investment Memorandum
Full deal overview, structure, financials, and legal framework
Available
EVERCREST OHIO LLC — Articles of Organization
Ohio Secretary of State, 15 May 2026 · Doc ID: 202613500100
Available
Financial Model (Google Sheets)
Underwriting assumptions, cash flow projections, sensitivity analysis
Available
Section 8 Market Analysis — Ohio
SAFMR payment standards, HCV demand data, comparable rents
Available
Intercompany Loan Agreement Template
Legal structure between Valtora LLP and EVERCREST OHIO LLC
In preparation
KYC / AML Process Guide
Step-by-step investor onboarding and verification process
In preparation
DSCR Pre-Approval — USD 700,000
Lender pre-approval letter dated 5 May 2026 and financing terms for the acquisition line
Available
Property List & HAP Contracts
Addresses, purchase prices, lease terms, Housing Authority contracts and inspection status per property
Available
Legal Opinion — EU Structure (K-1 / PFIC)
Independent legal and tax assessment of the European participation structure
In preparation
Frequently Asked Questions
Common Questions About This Deal
What is Section 8 housing?
Section 8, formally the Housing Choice Voucher Program (HCV), is a US federal rental assistance program. Eligible tenants receive a voucher that covers a portion of their rent — typically 70–80% — paid directly to the landlord by the local Public Housing Authority. Housing Authority payments under a valid HAP contract may form a portion of the monthly rent. Payments are conditional on continued program eligibility, inspection compliance, and rent reasonableness.
How are returns paid to investors?
Investors participate via a intercompany loan to EVERCREST OHIO LLC through Valtora LLP. Returns are structured as interest payments on this loan, paid quarterly. The interest rate and payment schedule are defined in the intercompany loan agreement, which is available in the data room.
Is EVERCREST OHIO LLC already incorporated?
Yes. EVERCREST OHIO LLC was incorporated on 15 May 2026 with the Ohio Secretary of State (Document ID: 202613500100). The Articles of Organization are available in the investor data room.
What is the minimum investment?
Participation is restricted to qualified investors. All access requires KYC/AML verification and full documentation review. Investor terms are provided exclusively in the secured data room after qualification.