Print

Get a slice of American Pie

Catherine Deshayes

A Government sponsored scheme encouraging people to invest in regeneration efforts in the southern United States has been introduced for a limited time only...

In August 2005 Hurricane Katrina struck the southern United States. In the state of Mississippi alone, over 60,000 houses were lost with a further 65,000 damaged.

In an area which, at the time, was showing signs of economic strength, this was a devastating blow as thousands lost their homes and their jobs, with many still living in temporary trailer accommodation three years on.

The plight of those people who lost everything in this tragedy led to the American Government drawing up the Gulf Opportunity Zone Act.

Within the ‘GO Zone Act,' investors are given specific and very attractive taxation and benefits from the US Government so that they will buy into developments and ensure that there is adequate, quality housing available to those who want to return to their former communities and re-establish their own independence.

The economy in these areas is strengthening through the development of large employers, including pharmaceutical companies, NASA and many construction companies.

One of the main economy boosters in the area is the casino industry which is growing at a huge rate, and is now third strongest in the US behind Las Vegas and Atlantic City. However, the residents who have now found employment still have nowhere to live.

This scheme, which ends on 31st December of this year, involves a £40,800 cashback from the US Government for all properties in the SRAP (Small Rental Assistance Programme) as an incentive to bring affordable and eco-friendly rented housing to those still living in temporary accommodation.

Applications must be in by November 15th of this year. 

A minimum return on investment is 500 per cent with duplexes available from around £17,500 deposit.

Mortgages are secured at 90 per cent loan to value and are non-qualifying as only your unit is used as collateral.

Therefore, you can invest for just 10 per cent (plus fees) of the purchase price in a property that is cash positive from day one.

An extra incentive is this scheme is that you will receive 50 per cent tax credit from the Federal I.R.S (Internal Revenue Service) to use over the next 15 years against income and capital gains tax.

The demand for this type of property is so high as thousands of people are waiting to get their lives back on track. By investing in this scheme, you can have the satisfaction of knowing you are helping people whilst reaping your own rewards.

Martin Sadler, Sales Manager at Assetz, said of the Go Zone Act, "It is without doubt, one of the Best Investments for 2008."

If you want to find out more about the London seminars, they are being held on the 2nd and 4th October. Visit investors.assetz.co.uk/pic-seminars-exhibitions.htm

Call Assetz International on 0845 430 0010 to discuss this scheme in further detail.

To browse other American properties for sale, visit usa.themovechannel.com/

Picture: dbking