How can I find funding through grants or loans for real estate investing?
contingentlaw asked:
I am doing research on starting in real estate investing. I have heard that grants or loans are available from government or other sources to buy, rehab, or otherwise start in real estate investing. Where can I find out about these?
I am doing research on starting in real estate investing. I have heard that grants or loans are available from government or other sources to buy, rehab, or otherwise start in real estate investing. Where can I find out about these?
March 27th, 2009 at 1:43 pm
I don’t think there are many (or any) grants available for real estate investing. May need to go the loan route which would be a bank, or prosper.com or something.
March 29th, 2009 at 6:01 am
I have never heard of government grants for real estate investing. If you have good credit you can get traditional loans that require little or no down payment. Talk to a local mortgage broker or bank about your options. Find a good investment realtor as well.
March 29th, 2009 at 7:25 pm
There is a seminar coming up in Calgary on April 7th and 8th at the Quality Inn or the Hyatt Regency by Chris Johnson. Who specializes in this. (I have no idea the legitamacy and am not endorsing hi) but you can check out his website at youcangetfreemoney.com. It may be worthwhile.
March 30th, 2009 at 5:11 am
The grants are for home owners, not for to fund your business. You are talking about tax payer money.
All banks have loans specifically for investment property.
March 31st, 2009 at 10:06 pm
Most government grants are in blighted areas where they want to spur rehabilitation of neighborhood properties. As far as I know there are no federal grants avalable unless you are revitalizing a property which will end up on the national register of historic properties, but these would have little to no profit potential due to the high cost of rehab to get the property to standards. The local programs generally only give 5-20k for help in rehabbing homes, but unfortunately come with so many strings attached that you will be begging them to take their money back just so you can get them out of your hair. Once you invite them in, you many times lose the grandfather clauses on any number of code requirements that have been put in place since the particular home was built and you have to spend as much if not more than the grant money to get the place up to the government standards that they require in exchange for the grant.
In my honest opinion, better to just get your own loan and go it alone….