Downtown Investing
The City of Madison is offering a great incentive for downtown investors called the Bassett Small Cap TIF Loan. One of the nice features is that its not income restrictive unlike their other investment-rehab loan offered citywide. This program offers a 0% interest 2nd mortgage up to $60k with a provision that it must be owner occupied for 10 yrs and is limited geographically. You can read about it at www.cityofmadison.com/homeloans Funds are available through December 31, 2008. Last time I checked, there are 4 properties available in the Bassett neighborhood starting at $310,000.