PROPERTY DEVELOPMENT PROGRAM SEARCH

[Oscar Miguel]

Hello all, I hope everyone had a good weekend and is safe and healthy.  I'll jump right into it:

Long ago I purchased a corner property in a very small/low-income town in southeast California.  It's a very small town with little to no development and rarely is a comp available.  I have a duplex on the property now but over half of it is just an empty lot on the corner.  The property is zoned for up to 6 units and the City has been vocal about being eager in approving permits to develop.  The empty corner lot can draw debris or hang out sessions with local teens.

My biggest issue in the area is that rents are so low that stick build is not really worth the investment and construction loans aren't really an option since ARV is not going to be enough to justify the expense. This leaves me with looking for a used modular home and installing it. I'm looking at that option, but haven't had luck finding a decent looking mobile that is 1976 or newer.

I heard there can sometimes be programs that will subsidize costs of building in certain areas.  Any advice folks?  On where I can look for these programs or for used mobiles?

Thanks everyone!