Singing Pig

I have just agreed to buy 3 duplex (pairs) of 3 bed 2 bathhouses in the USA for $32,000 downpayment each and will get a payment back fromthe federal government of $73,000 for each, positive cashflow of over $40,000per duplex (approx £20,000).

I went to a presentation last week about property in the GoZone in the USA.  If you have notalready heard about it, this is an extended area of the southern USA which wasaffected by hurricanes Katrina and Rita a couple of years ago.  The US Government is pouring billionsof dollars into the area to revive the economy and provide low cost housing fordisplaced 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 authorityhave established a Small Rental Assistance Program (SRAP) to provide affordablerental properties for everyone during these times of high rental demand.  What I like about the deal is that theincentive is from the US federal government and not a fake cashback scheme froma developer.

I think this is such a good deal that I want to let as manypeople know about it as possible. I don’t want to sell it to them, but let them do their own research anddeal with the companies directly themselves.

There is plenty of information available on the internetabout the area and the funding. The developer is represented by Danny Silver who is well respected inthe US property market, his website is www.propertydirectgroup.com   His UK based partner has awebsite www.investmentpropertydirect.comwhich is under construction and I understand is almost complete.  It can currently be viewed and used toregister interest.  They will bearranging further seminars in June which Danny will present and details will beavailable from the website.

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 then go along to one of their free seminars.

Sorry

 

UK website is www.investmentpropertydirect.co.uk

Sorry

 

UK website is www.investmentpropertydirect.co.uk

I would check this out very very thoroughly indeed before parting with a cent. What looks too good to be true usually is. Tread carefully.

Eric

 

If the developer was offering me a cashback I would be very sceptical.  However, I have researched the matter thoroughly through many websites, including the Go Zone Gateway www.gozonegateway.com which has links the the MDA which handles the SRAP funds and the IRS to name but 2, plus many other realtor and developer sites and the story is consistent throughout.  There is a property vacuum here that needs filling and the government is pouring billions of dollars into the area including $262m for the SRAP program.

 

As I said in my original post, do your own research.  Obviously its not for everyone.

 

Regards

 

Paul 

Hi Paul

I first heard about this on the property secrests forum a few weeks ago and I am very interested.

One question, the money that you get back from the US govt, do you have to keep that in the US or can you trsf these funds out of the US.

Also do you have to pay Danny Silver a finders fee.

Good luck with your investments.

Regards

 

 

Elaine 

 

  

 

 

 

 

 

 

Elaine

As far as I understand it you can transfer the funds out.  The money is in the form of a forgivable loan and you must stay in the rental program for 5 years otherwise it has to be returned.  The amount due back is reduced after 3 years.  The company opens a US bank account for you into which the SRAP money is paid and through which all income and outgoings go from renting your property.  You can leave it there, move it or spend it.

There is no finders fee to pay.  It is illegal for anyone selling property in the USA to charge a finders fee.  I don't know how Danny is paid but the purchase is made direct from the developer in the USA and they handle all the legal stuff and paperwork.  I guess they must pay him for marketing their properties in the UK.

If you are interested, they are holding another seminar on 12 June near East Midlands Airport.  No doubt there will be others too.  You can register for a place at one of the websites above or to enquire about any future presentations.  I will be taking my wife on 12 June as she didn't come with me to the last one and wants to meet Danny and Tony.  They are very personable and there are no high pressure selling tactics.  I would recommend you go to one if you can.

 

Regards

 

Paul 

  

Elaine

As far as I understand it you can transfer the funds out.  The money is in the form of a forgivable loan and you must stay in the rental program for 5 years otherwise it has to be returned.  The amount due back is reduced after 3 years.  The company opens a US bank account for you into which the SRAP money is paid and through which all income and outgoings go from renting your property.  You can leave it there, move it or spend it.

There is no finders fee to pay.  It is illegal for anyone selling property in the USA to charge a finders fee.  I don't know how Danny is paid but the purchase is made direct from the developer in the USA and they handle all the legal stuff and paperwork.  I guess they must pay him for marketing their properties in the UK.

If you are interested, they are holding another seminar on 12 June near East Midlands Airport.  No doubt there will be others too.  You can register for a place at one of the websites above or to enquire about any future presentations.  I will be taking my wife on 12 June as she didn't come with me to the last one and wants to meet Danny and Tony.  They are very personable and there are no high pressure selling tactics.  I would recommend you go to one if you can.

 

Regards

 

Paul