How Closing with Public Dollars Can Be a Game Changer

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The purpose of this article is to provide you with some insight into a lesser known world of real estate professionals seeking funds and opportunity from the government.  Imagine investing in real estate deals using “other people’s money”.  Sure, you hear that all the time, but what if the “other people” include local, state and federal government agencies?

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As I write to you this month, I sit in my office overlooking the herring run. It’s a sunny day and it’s hard not to wish the warmer weather that has been teasing us this winter to become a permanent fixture as spring and summer knock on our door! As I start to daydream, I am thinking about those long hot days of summer sipping on a cool refreshing beverage on Cape Cod. My mind journeys further into a European Holiday in the fall. What a great life! BAM
The phone rings and I snap back into reality. We are sitting on a truckload of transactions that need to be completed in our shop over the next five days. The office is crazy and people are yelling at me to move quicker and stop staring out the window. “Sean, can you look at this?” “Sean, call on Line 2”, “Sean, it’s the contractor for Bell, can you talk?”

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WASHINGTON – As part of the Obama Administration’s effort to prevent and effectively end homelessness, the U.S. Department of Housing and Urban Development announced today that it will offer $1.9 billion for fiscal year 2015 to support existing and new homelessness programs. Funded throughHUD’s Continuum of Care (CoC) Homeless Assistance Program Notice of Funding Availability (NOFA), this notice will further incentivize local applicants to pursue permanent housing using a Housing First approach to target their resources to proven strategies.

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WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro, Detroit Mayor Mike Duggan, U.S. Senators Debbie Stabenow and Gary C. Peters, and Congressman John Conyers, Jr., announced the allocation of $8.9 million from the Community Development Block Grant Declared Disaster Recovery Fund (DDR) to the City of Detroit. The funds will help Detroit become better prepared for future floods and other natural disasters, and assist with planning and implementation costs associated with resilient projects in the Brightmoor, Mt. Elliot and McDougall-Hunt neighborhoods, stemming from August 2014 flooding damage.

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