Hi guys. Just browsing around and came across this website. Thought I'd spread some news.
I have just agreed to buy 3 duplex (pairs) of 3 bed 2 bath houses in the USA for $32,000 downpayment each and will get a payment back from the federal government of $73,000 for each, positive cashflow of over $40,000 per duplex.
I went to a presentation last week about property in the Go Zone in the USA. If you have not already heard about it, this is an extended area of the southern USA which was affected by hurricanes Katrina and Rita a couple of years ago. The US Government is pouring billions of dollars into the area to revive the economy and provide low cost housing for displaced residents and newcomers entering the area to work. They need to build over 60,000 properties to satisfy demand.
In certain areas of Mississippi, the development authority have established a Small Rental Assistance Program (SRAP) to provide affordable rental properties for everyone during these times of high rental demand. What I like about the deal is that the incentive is from the US federal government and not a fake cashback scheme from a developer. I think this is such a good deal that I want to let as many people know about it as possible. I donât want to sell it to them, but let them do their own research and deal with the companies directly themselves.
There is plenty of info available on the internet about the area and the government funding. The developer is represented by Danny Silver who is well respected in the US property market, his website is
www.propertydirectgroup.com which is a good place to start your research. His UK based partner has a website
www.investmentpropertydirect.co.uk which is under construction and I understand is almost complete. It can currently be viewed and used to register interest, and you'll get some E-info sent back to you.
All the paperwork to buy is sent out by E-mail from the USA so I don't see why any investor anywhere in the world can't become involved. I'll try to find out if they have a representative down under.
This is such a no-brainer deal for me that I have committed to 6 properties which is the maximum number for which an individual investor can get the SRAP funding. So by investing $96,000, which covers a 10% deposit and all closing costs, I will have 6 brand new properties to rent in a high demand area and $219,000 back from the US government. Where else can you find a deal like this? Check out the websites and do your own research into the Go Zone and SRAP.
