I have a question that I was hoping someone can shed some light on how to approach the Director of The Housing Authority. What questions would you ask as a newer investor working primarily as a wholesaler. Can there be any help that I may be able to receive from someone of this caliber or would they be best for possible mentor amd/or Private Money lending partner(if they have some cash to invest) or possibly a lead source for HUD Homes in the area?
I would appreciate some great approaches on how to work with this authority and making the most out of this connection?
FYI, I have a scheduled meeting with them and not a drop by so looking to be prepared in finding to best way to develop and utilize this resource.
Thanks in advance for your help!
I doubt the activities you are looking for would be within the charter of a (HUD-based) Housing Authority. If I am reading your post correctly, you are looking for a direct funding opportunity and/or specific financing for your project. Not sure any HA would entertain that unless the opportunity was open via competitive methods. Others on BP know way more than I do, but I would say your idea may not be plausible.
Did you read a thread about me partnering with the PHA in a non-profit to back funding of a project? Probably should not have mentioned it, but it was unique to that thread and certainly not a novice level venture.
Otherwise, I have no clue what you're asking. Your approach to a HML or a conventional lender usually done with a purchase contract or plans and specs in hand.
There can be situations where a PHA E.D might influence a lending arrangement, PHAs don't lend money. :)
A director of a housing authority sounds to me like a government employee managing the projects. I think you might need to clarify what you mean a little more. If this is the sort of person you are speaking of, I'm not sure how they can help you out. I would think a person working for HUD in this division wouldn't be affiliated with homes owned by HUD, but I could be mistaken.
Thanks for your input on this topic
To clarify, I met a recent network contact that led me to the Director of Housing Authority. I wanted to get advice on how and if HUD services could be of any help to me and my real estate business or just a waste of his time in courtesy?
Yep, your wasting both of your times. But, afterwards you'll have an idea what the housing authority does.
I was Commissioner of a large PHA here, the ED is a full time administrator of day to day operations, a Commissioner is much like the board of directors of management.
I'd say your approach is not a good one, if you went to my old ED you wouldn't get in his office, certainly couldn't get to me. Why? Your goal is backwards for one thing, you are wanting them to assist you, these are public service positions, not acting in a business environment.
The other issues are ethics, self dealing, sunshine laws and the appearance of impropriety!
Ask not what your country can do for you, ask what you can do for your country would be very applicable here.
There is a thread here "Profit in Non-Profits" should get you there. There are some tips in there as to working with a PHA and in community service. This will put you in a network that may advance your business. This is politics and public relations.
You can't just walk in and ask a government officer to feed you customers! :)
Thanks for all your insight, that's exactly what I needed to know in order to make the right decision and partnerships moving forward. Thanks
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