AboutChristopher A. Baker Expertise Section 8 Appraisal and Rent Comparability Expert
Owner of Title Insurance Company
Owner of a Commercial Real Estate Appraisal, Sales, Leasing, and Management company.
Equipment and Business Valuation
Minerals
Baker Valuation, inc.
Birmingham, Alabama
Experience I am the rent increase/rent comparability study reviewer for Contract Administration in the Following States: Alabama, Mississippi, Connecticut, and Virginia
Organizations Designated member of the following: CCIM, MAI - SRA/Appraisal Insititute, MRICS - Royal Institution of Chartered Surveyors, CEA -AMEA
Education/Credentials BA, MAI, CCIM, SRA, MRICS, CEA
Question The company I work for is a small minority-veteran owned high-tech consulting company seeking funding to branch into real estate investment. As Researcher/Developer , I have done extensive research into real estate investment. Our main issue now is the cost for starting this new venture is greater than we can afford at the moment. The program I would like to implement is rent-to-own for low-middle income families, women, and minorities.
Are there HUD guaranteed loans available to assist the start-up?
We also have land for farm options. Can loan on that to use part of our seed money for our rental program?
Answer Mr. Cecaci,
You should contact your local HUD office and your State Housing Finance Authority. There are many programs, grants, and loans which will vary state to state and community to community for the building and or acquisition and renovation of affordable housing. HOME Funds, Low Income Housing Tax Credits, and other similar programs should be available most everywhere.
Additionally, there are many non-profits which support local housing athorities in the proliferation of affordable housing.
Start with your local HA's (housing authorities), then work your way to the state level.
