Thread: Question on low income housing and finding incentives

So I was brought a question and I do not know where to go to look for answers so I thought maybe L4P would know where to search.

A friend wants to find out more about grants, tax incentives, and that sort of thing to build low income housing in Ohio. I figure the incentives vary state to state as the economy is different everywhere. What sort of way would I go about researching this? I am surfing Google right now but maybe a certain branch of government I could contact?

Any sort of direction will help and if I need to explain more let me know. Bad investment or not, I am just looking on where to searching as this is just an idea at the moment and could take off if the outlook is good enough after some analysis.

Thanks and if you feel a PM is better we can go that route to keep private information safe.

Don't have any experience in this arena but here are roads I would try....

Find a CPA that deals with companies in the housing industry
Talk to someone in the local HUD office
Find a company that is doing this right now in a non-competing marketplace, possibly even a different state that would be able to give you insight to the industry.

-Good Luck

Good luck. I am trying to coach a client on finding a government assisted loan for an apartment complex. He has tried 8 banks and they all turn him down due to location of the apartments.

I have been contacting every bank to find out how to get our hands on all of this incentive money that the current administration has injected into the banking system. It's really hard to find... big shock.

Your better off finding low income homes to renovate, the vast majority of Section 8 properties are becoming homes down here in New Orleans. (not sure fir your area) Apartments are on a steady decline I sold my last apartment complex right after Katrina purchased 3 homes and now have the rented to Section 8 tenants. Most people want the home feel, apartments make the feel like they are back in the ghetto (according to one of my tenants)