funding

10 Replies

where can I get real estate grants from? And where do I get funding from, who do I contact...

Grants? As in money that's given to you that you don't have to repay? I'm not aware of any programs like that.

Funding can come from a number of sources:

1) Your own pocket. This still applies even if you also use some other source.

2) Loans - Money you borrow and have to repay

  • Banks
  • Friends and Family
  • Hard Money Lenders
  • Credit cards
  • Store cards
  • Loan against an asset you own

3) Equity Investors - Money that doesn't have to be repaid but that gives the investor a share of ownership in your project.

  • Friends and Family
  • People you know and people you meet

On the equity investors their share of ownership is typically proportional to the money they put in vs. the total. Don't think you can get an investor to give you 100% of the down payment in exchange for 50% ownership.

What is it you're trying to do?

There are federal grants and state grants. Depends on what you are trying to do.

I can tell you it is a very long shot. Many people or firms hire specific grant specialists that do nothing that apply for these things and very little money and lots of applicants.

I wouldn't be banking any type of successful business plan hinging on getting a grant to succeed. You might be better to find a deal and then find the money to fund the deal with a hard money lender or a private partner at cheaper rates.

Grants can be available for real estate, but you'd have to check locally such as the city you live in. Not all cities have grant programs, but some do. My city does and I would love to take advantage of it someday -- up to $15k that I would not have to pay back for renovating a rental property.

There are some HUD grants, but they are usually for redeveloping project-based HUD apartments. I've also seen historic renovation grants or lead removal grants, but they are, from my understanding, a very long process and will only foot part of the cost.

thanks you guys.. @Jon Holdman I'm not tryna do nothing big, I just buy cheap property and rehab them.. i think Ima read up on wholesaling so that I can put some money in my pocket to get some more projects.. or try and find some kinda private individual to borrow from.. I don't need a lot I'm just a small fish for now.. I don't need no more than 20 to 30 grand....

here is a government website I found, maybe you can find something there:

www.cfda.gov


Brian

Originally posted by @Jasmine Wilkes :

where can I get real estate grants from? And where do I get funding from, who do I contact...

 There is no such thing... at least not in Ohio

Not familiar with any grants but does anyone know of any cash buyers in Memphis and their criteria?

Contact me if you're still looking for funding. I've worked with a specific team multiple times to help me out.

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