I’m seeing more and more federal, state, county, and municipal grants being used to make real estate plans and builds more viable and cost effective. Whether you agree or not with the current political climate, the impact of obtaining a grant for a real estate project can be significant to your bottom line. It could be the difference between a project being worthwhile and successful or not getting reviewed. The below linked news story details some of what is now available.
Finding an appropriate and beneficial grant requires plenty of research. There may be grants for military members, minorities, income levels, and the category of property, such as agricultural. Each grant may have a time deadline, a total amount available only until issued, and additional points for qualification. Once identified, a grant may only be applicable when the property or opportunity meets all of the requirements and is properly filed.
The range of grants can make transactions such as affordable housing, agricultural or commercial development, and minority operated business success happen. There is also the important element of identifying the right land parcel(s) or an existing building or structure. In addition, the “Which comes first?” factor can apply when it takes a grant and the property to make the deal happen.
Meanwhile, I continue to talk with people that claim they “don’t need” a research person or team. I look at it that by the time they research for properties and then the time to explore possible grants, chances are someone else has come along and seized the deal.
If you have the research for the property and a grant, you also face having to properly apply for the grant and meet every element of the request to then be considered. That is a skill within itself. FIRST IN is pleased to now have a dedicated Grant Writer on our team. It is one more way we help real estate agents, brokers, developers, and investors to be “first in” on their next opportunity!
