This is the new kid again,
I hear all the time how people get government grants to help them rehab properties. I was curious how they go about getting the grants? I am in the indiana, illinois area and i would like to learn about the grant process.
Howdy New Kid:
Rental rehab grants in the mid 90’s were a great thing. I received almost $200,000 on 12 different properties to help buy and rehab houses and duplexes here in Austin, Texas. It was a 10 year conditional grant that was forgiven 10% per year provided the property was maintained and rented to low income tenants etc. The program was cut back to non-profits only and it had to be at least 4 units involved at a time. They were trying to cut the overhead too. I am not sure of the status now but it was funded with Hud money thru the local City Housing office. As far as I know there is no money available or on a very limited basis. You may check with HUD or your local housing dept. Let us know what you find.
Good luck and thank you,
Ted P. Stokely Jr
Thanks again Ted.