Reduce Your Tax Liability By 100
If you are a individual that makes between 200,000 and 500,000 a year... pay close attention???
Today’s real estate market offers buyers some of the most lucrative investment opportunities in U.S. history... But only if you know where they are!!! As most know, 96% of the real estate market is in turmoil with values continuing to plummet. There are only a few exceptions to that, but only if you know where to look… These are exceptional buying opportunities. I would like to share one with you!
The area that we will be talking about is the Go Zone ( Biloxi MS.)
What if you could recoup tax dollars that have already been paid to Uncle Sam? What if you could go back up to 5 years and reclaim Tax Dollars?
What if you could reduce your tax liability up to 100 K going forward?
This is where investors fall short and lack the knowledge in areas like this.
Hurricane Katrina ravaged the Gulf Coast when it made landfall on August 29, 2005. Katrina was described as the largest natural disaster in our Country's history as it destroyed ten's of thousands of homes and businesses throughout, Louisiana, Mississippi, and Alabama. This analysis focuses solely on the Mississippi Gulf Coast that lost an estimated 60,000 housing units in Katrina, and damaged another 65,000 units.
Prior to Katrina, the Mississippi Gulf Coast real estate market was showing significant strength due to the expanding Casino market, expanding defense industry and baby-boomers looking for more affordable Gulf Coast living. In many respects it offered people a more affordable life style than Florida, at substantially lower costs. When Katrina struck the Gulf Coast, growth came to an abrupt halt, as Casinos were destroyed, businesses were damaged, and residents were made homeless. In the first year after the hurricane, the housing market was surprisingly slow to recover. During this period there were only 1,463 new single family housing permits and 28 new multi family housing permits that were drawn. As perplexing as this may seem, there are several plausible reasons why this occurred.
Following Katrina, many construction firms concentrated on the immediate clean up and repair work in the local area. Second, many of the builders were given lucrative construction contracts to repair and rebuild Casinos. Contractors were hired to work around the clock to meet tight deadlines on getting the casinos up and running. Builders obviously went with the large lucrative contracts, and paid little attention to the housing needs of the community. Because of these factors, the true rebuilding of single family homes in the area has only recently commenced. Keep in mind that as late as the fall of 2006, 5,000 to 10,000 people were still living in tents, another 30,000 to 40,000 in trailers and a total of 100,000 families were still displaced.
Recent economic studies show that the Gulf Coast area is recovering. Statewide, gross state product and employment have surpassed pre-Katrina levels and a reconstruction boom is anticipated for the next five years. Post Katrina employment growth in the state more than offset the approximately 22,000 jobs that were lost due to Katrina. The state unemployment rate which was nearly 9% in late 2005 is close to pre- hurricane levels. Retail sales in the twelve months after Katrina are 19% above pre-storm levels, indicating further strengthening in the economy.
Because of the recovering economy in the coastal counties and the desire for residents to return to the area, affordable housing has become the major issue effecting sustainable growth in the area. The recent demand for affordable housing has created significant growth in the local housing market. In October of 2006 MSNBC reported that the effects of Katrina may spout a Real Estate boom in Mississippi. Many builders and developers are beginning to enter the market for what looks to be a significant growth market. Many of the developers are focusing on buying up whole blocks of destroyed homes South of I-10 to make room for Casinos, condos and entertainment complexes. Other developers are focusing on land north of I-10 that has higher elevation and has no lingering effects from the hurricane.
Mark Cumbest, Mississippi Real Estate Commission Vice Chairman, was recently quoted as saying that the Mississippi Gulf Coast is one of the best real estate markets in the country. Investors believe that Katrina is only one of the factors that should lead to an excellent real estate opportunity in the years to come. Other factors are the continuing expansion of the Casinos, jobs created by the expanding defense industry and the migration of baby boomers to lower cost warm weather spots near the Gulf. Most experts agree that the real estate boom has only started and may run for the next 3 to 5 years. As an added inducement to investors, the State of Mississippi is offering significant tax incentives to invest in the area that were hardest hit by hurricanes. The combination of a high growth area, with the opportunity for appreciation and added tax incentives, make investing in Mississippi an attractive alternative for real estate investors.
In 2005, the U.S. Congress delivered the “Gulf Opportunity Zone Act†which offers incredible tax benefits to real estate investors as part of an effort to help revitalize regions affected by hurricanes Katrina, Wilma, and Rita. With the clock ticking on the government tax incentives, and the rapid growth being seen throughout the region, the Go Zone is realizing a “gold-rush†of investment buyers, scouring for bottom market prices and to recoup significant tax dollars they paid out to Uncle Sam over the past 5 years. Our experienced team will walk you through the Go Zone benefits step by step and show you how to take advantage of these incentives as well as the cash flow positive, turn key investment properties we’re currently offering in our extensive portfolio.
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