Federal Grant Money
I was wanting to know if anyone has tried to use government grants to turn any of their property into an AIDS Hospice or a home for physically challenged. What I really want to know is: (1) How long will it take from start to finish? (2) Are the returns more or less than keeping the property rented to private tentants? Lastly (3) Is this more of task than renting to private tentants?
I own a fourplex that is completely rented, it is located next to a fourplex just like the one I own. The one next door is a AIDS Hospice ran by the city I think. Has anyone had experience converting such a property? Thanks Vern
VERN:
My Personal Opinion is---
DON'T DO IT!!!
Now for My Professional (15 Yrs. in Real Estate Finance/investing)Opinion is---
DON'T DO IT VERN ---EVEN IF THE GOVT. PROMISES YOU FLOODGATES OF EZ MONEY AT YOUR MAILBOX EACH MONTH---
DON'T BELIEVE THE HYPE!
First Consider All the PAPERWORK and REPORTING THAT'S REQUIRED:
Begining with your Grant Application Request:
Usually it's 120 pages long and copy in sets of Eight. $450-$750 in Printing/Typset/Copying/FedEx/etc.
Community Needs Determination + Analysis from an accfredited/approved Grant Writer: $1,700-$2,500.00
If it's located in or neqar a'Brown Field' you'll need soil samples, EPA testing and Remediation (Try $15,000 to $30,000)
Not to Mention You will be competing with a myriad of other Freebie Seekers for a limited supply of these federal dollars.
OK! OK! So most of the above if not all of the aboe is covered under your funding request(You GET THE MONEY BACK RIGHT?)
For all the headaches and heartaches that will visit upon you ---You'd wish you never left Basic Bread & Butter/Write Your Own Paycheck 'Creative Real Estate Investing!'
Also, these Grant Dollars are funded annually and shortened arbitrarily --this is better known as a 'Program cut' aka: "YOU ARE NOW HEADED FOR FORECLOSURE BUDDY!"
-NOW GIVE ME YER SHIRT---NOW!
You can probably tell that I am SOUR on GOVT. Hand Out programs like the one you are seeking to get involved with!
I have been burned by the Fire of Govt., Bleeding Heart Liberals and Utlra-Conserrva-Types with agendas to show Voters: "Look at what I've done for the needy(greedy)
The END ALL BE ALL is THEY DON'T WORK, THEY DON'T LAST and THEY DON'T PROFIT!!
I HAVE NEEVER MET A MILLIONAIRE WHO GOT THEIR MILLIONS THROUGH GRANTS, Not to say that there Aren't Any!
Personally I have found These Program, HUD/ Section 8, CETA, CBDG, SBA, MBDA, and others ONLY GIVE YOU JUST ENOUGH MONEY TO GO BANKRUPT!
Does Anyone else out there disagree?
Put up or shut up! PLEEEEEZE Somebody Show me the REAL MONEY if I'm WRONG!!!
Go Get Yourself A FREE HOUSE VERN!
If you are having trouble finding one I can show ya plenty you can profit from!
Hope this Helps You see the LIGHT!
Much Success!
DERRICK ALI
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[ Edited by DerrickAli on Date 09/23/2002 ][ Edited by DerrickAli on Date 09/23/2002 ]