$2 Million in Development Funds Up For Grabs in Upstate New York


Upstate New York is some of the nicest country around, but many of the upstate cities like Rochester and Buffalo are extremely run down; thus, investment properties can be found in both of these cities for dirt cheap prices. The New York State Affordable Housing Corp just announced that it is going to make available $2 million for low-income housing development in the Buffalo Area, but don’t get too excited investors, they are only giving it to non-profits and municipal groups.

Why not just open the money up to anyone who has an interest in developing the area? Non-profits burn and abuse money just like everyone else. Other cities like St. Louis have great programs where investors can purchase run-down properties for development for pennies on the dollar. It would seem to make more sense to do this, no?

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Joshua Dorkin

Joshua Dorkin (@jrdorkin, Google+) founded BiggerPockets.com when he saw a need for free, trustworthy information about real estate investing online. Over the past 12 years, Josh has grown the site from self-funded hobby to full-time job and passion. Today, BiggerPockets brings together over 600,000 members, housing the world’s largest library of real estate content, iTunes’ #1 real estate podcast, and an array of analysis tools, all geared toward helping users succeed.

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