Mississippi Small Rental Assistance Program SRAP Deadline
Hey Guys,
I'm going to use my first blog post to let everybody know that the deadline for the Small Rental Assistance Program SRAP is on Dec 15th.
If your application hasn't been submitted yet (or even if it has), you may want to consider a few things before the deadline.
1. Did your developer provide you proof of lot ownership, via warranty deeds? (Warranty deeds for the land in your name are needed for acceptance to the program)
2. Does the developer plan to build your property on his/her own credit line or are they going to force you into a costly construction to permanent loan?
3. Are you investing in an area that has good property management? (because more than likely you are an out of state investor)
4. Finally and most importantly, can the developer provide proof of 1st Round approvals?
Comments (6)
Also a victim of MDA SRAP phase I, please study this carefully! There is NO rental demand for these homes, and it is very difficult to find a tenants. My closed my Phase I duplex one year ago, NO tenants move in at all. Then I got a mold issue since it is empty for so long. Also the price is so high... Most money FROM MDA wAS made by developer, since the developers are selling those homes at high price. So, it is NOT worthwhile and It will cost you money month by month without a tenants. The rent will not be much less than you will expect.
Steve Wuan, about 16 years ago
@Jessica, no round 3 will be available @Ron, care to share your experiences? Victim? How so?
N/A N/A, over 16 years ago
As a victim of MDA SRAP phase 1, my advice is to steer clear of this program.
Ron Gambrell, over 16 years ago
I have heard talk of SRAP round 3. Any truth to this?
Jessica, almost 17 years ago
No extension, but depending upon how much money is left there could be a Round 3. There is still time though, call us for details at 561-404-7375.
Jeremy, about 17 years ago
will their be an extension to the dec. 15 deadline on the srap program?
tom shirley, about 17 years ago