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Foreclosures, Foreclosures, Foreclosures. That is a very popular term these days
and yet folks are queasy about the investment real estate market.Where do homeowners go when they lose their house?
Market rate housing or subsidized housing?
Traditionally, people do not have anything upon foreclosure and market rents are staying high in competitive markets. This leaves the affordable market as a great source for former homeowners.
A recent Associated Press Article outlined this crisis but also warned of another pending crisis.
The value of tax credits - what us developers are often given by the government when doing large deals - is worthless.
Keep reading...
"The government knows there is a crisis" and are looking for ways to fix it.
In fact, as I have been saying quite frequently, the Stimulus Bill is actually providing for holders of tax credits through the tax credit exchange program.
This isn't bad, this is good!
So instead of working your tail off to get the tax credits, then getting your award, you now may not need to seek a investors.
Why? Because they are buying the credits back!
It's time to figure out what deals are working and how best to get that next deal structured. Look for areas hard hit by foreclosures and see if you can put a larger scale project together.
The tax credits come through and you can either search for an investor or seek government assistance.
Easy enough? Don't forget your developer fee - yep, that's cash at closing!
Sean Carpenter is the nation's leading expert on Government Deal Funding for Real Estate Investors and Developers and has spent the last 12 years both consulting and getting funding for his own deals. I'll be hosting a special interview with Sean coming up on Tuesday, January 12th, 8:00 PM EST where he'll talk about getting multi-million dollar tax credit deals thanks to Uncle Sam. Find out more and pre-register for the call by visiting:
http://www.getpublicfunding.com/fcm/
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