Property Investment: Community Development
Those who are interested in investing in real estate may wonder if it is possible to purchase properties with the help of grants. There are several community development grants that are offered to states for community development projects that meet specific criteria.
In most cases, real estate investors are required to file the appropriate documentation with their local HUD or other community development office. For those who are uncertain as to which agency in their state handles these types of projects, the HUD website can be of assistance.
Real estate investors can obtain information on grants for investment property along with the required application forms. In some cases, application fees as well as proof of the investor's ability to secure financing may be required.
Some states have specific neighborhoods, which are designated for community development. In some cases, the properties in these neighborhoods may require a substantial investment in order to ensure that they are safe to rent to tenants.
Other grants may be available for those who wish to renovate property for rooming houses, special veteran's housing or low-income housing. Properties which were destroyed by natural disasters may also be eligible for investment property grants.