A low income housing business plan should clearly define the market conditions you will capitalize on in the construction of a low income housing project. It should also emphasize the various incentives you can reap—at the state and the federal level—as the construction firm or development agency behind a housing complex that's aimed at needy Americans. Low income housing can come in many forms; multifamily units, studio apartment complexes, or row houses are all viable low income developments depending on your market and the needs of the community most likely to move into the units. You should explore the market in depth prior to developing the complete financial model. Make sure you're able to answer these questions confidently in the narrative of your low income housing business plan:
• What is the state of the industry in your city and state?
• What companies are you competing against?
• What are your competitive advantages in this market?
• Are there are comparable units you will model your housing after?
• What is the market need you fulfill (in your own words)?
• Who are the target customers?
The market analysis should include a target market segment strategy that clearly outlines what your market segmentation looks like. Will you cater more to senior citizens? People with disabilities? Single parent families? If there is a specific target that your building will be best suited for, show who these people are and try to get a read on how many of them there are in the area. For the financial model, make sure you have a minimum of three years of projected revenues and expenses with a clearly marked break-even point and loan repayment schedule. Also include a use of funds table that gives the reader a sense of how you will allocate your seed capital. Need help with the low income housing business plan? Call the business plan writing experts at MasterPlans.com today. We have been in business since 2002 and have written for dozens of housing projects nationwide. Toll-free: 877-453-2011.
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