Redevelopment Housing Authority - Posted by CThompson

Posted by Irwin on April 30, 1999 at 07:22:43:

Sometimes a municipal authority can designate an area as one that is being taken by eminent domain. If they do that, you might not be able to buy a property in the declared ares and sell it at a profit to to the city. That’s the only “effect” that I see possible. Talk with the people at the Commission and they’ll tell you what you can and can’t do in a particular area.

Redevelopment Housing Authority - Posted by CThompson

Posted by CThompson on April 28, 1999 at 13:55:27:

A friend told me that the Redevelopment Housing Authority
in my area buys homes that need work and finds contractors to fix them up. Supposedly they pay these contractors to work on the homes. My friend asked me why an investor would want to buy a house and fix it up while risking liability of owning the home when they could go through this program and get paid by the Housing Authority. I stated that I think the difference is that these contractors need to be licensed and the average investor does not.
2.
Am I right?
3. My biggest concern is whether this program will have any effect on flipping a house in an area which is targeted by the program.