Your county's local housing authorities ("HA") can be good outlets for foreclosure and real estate cleanup contracts. As a small business in any area of real estate contracting, a gold mine in vendor opportunities is available. Why? Because several cities across the nation have benefited from millions in stimulus money pouring directly into HA coffers.
Millions in Stimulus Money Going to Individual Housing Authorities
For example Norfolk Redevelopment and Housing Authority in Virginia received $9.2 million in stimulus money; New Orleans received almost $35 million; Tampa received $10.5 million; and the federal government recently gave Chicago's Authority approximately $200 million in stimulus money, most of which is slated to go towards rehabbing and building. And the list goes on and on.
A good deal of the stimulus funds are being used to revitalize neighborhoods and to rehab existing housing, which is great for foreclosure cleanup businesses.
Have You Registered Your Business?
If you are a contractor such as a property preservation or foreclosure cleanup business, landscaper, hauler, electrician, appraiser, plumbing company, etc., you can register your business with your local offices; and many of the vendor applications are available online.
How Does It Work?
First, real estate contracting businesses should seek out the appropriate office with which to register as a vendor. Many cities have more than one office servicing an area, so make sure you research the right branch with which to register your foreclosure cleanup or real contracting business.
TIP: Register your foreclosure cleanup business with HAs in areas that are close to your business' home-base so you can properly service contracts as they come in.
Housing Authority Application Process
Once you find the correct office with which to register your foreclosure cleanup or contracting business, simply visit their websites and start completing applications online.
Required Follow-up Information via Mail or Fax
You may have to send follow-up information via mail or fax to complete the formal application process (i.e., completed W-9, copy of business license, proof of insurance, etc.). But you can get started immediately by filling out electronic applications online.
Once at the appropriate office's website, you will be looking for links that say something like Contracting Opportunities, Vendor Opportunities, Business Opportunities, Doing Business with the Housing Authority, etc. When you click on the appropriate links, you will be taken to an online vendor application (the application may be called a procurement application, depending on the office).
From there, simply complete the application as instructed and send out the required follow-up material to complete the process.
Bid Solicitations Will Start Coming In
From there, you will start getting bid solicitations, or request from proposals (RFP) from the housing authorities with which you register. You can also regularly check an HA's website to find out which jobs are open for bids. Search a housing authority's website for links like "Current Solicitations" or "Current Opportunities."
Once you start receiving bid solicitations, you can actually start competing for lucrative contracts for your business.
Good luck registering your foreclosure cleanup business or your contracting service with your local housing authorities for contracting opportunities.
