Singing Pig

Hi ,

 It all sounds very good ,, But I have found it hard to find anybody who has actually been paid any money.

http://activerain.com/blogsview/519053/I-Rest-My-Case

buderim 

Buderim 

The SRAP funding is handled by the Mississippi Development Agency (MDA).  They have a website and an office in London that you can call.  The funding is only available until the end of 2008 and I understand that the $262m is expected to be completely allocated before the end of the year, so someone must be getting it.

Property Direct Group and Investment Property Direct will not be promoting the SRAP investment route after the upcoming seminars on 10 and 12 June, as funding applied for in a couple of months time may not be available.

 Regards

Paul 

What is the MDA website URL?

Thanks in advance. 

ingram62:

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 

I believe the money from the US government is a tax credit. You get to pay less in taxes than you would have done otherwise to the US government. If you have no tax liability in the US then you cannot use the credit. The rental property will generate some income and some liability but the program was not designed for people who do not pay taxes in the US.

The Go Zone program exists to help rebuild after hurricane Katrina. It is a good program for some. 

John

See my reply in the other post, "The Go Zone USA".

The $73,000 SRAP funding is totally separate to any tax breaks given by the IRS.

Paul 

The local government Housing body has just raised the rents on a duplex by over $500 per month and prices are due to go up by 10% in July.

This deal just gets better & better! 

Hello Paul, 

Thanks for the above info. 

I've read about the 73K forgivable loan and the tax credit but could not find anything about the 40K positive cashflow quoted above.  Please explain or refer me to the individual site.

Sucheta

The $40,000 positive cash is the difference between the $32,000 deposit and costs that you pay up front and the $73,000 you get back from the government.  In other words you get your money back plus $40,000 and you own 2 properties to rent in a high demand area, which also produce monthly cash.

Regards

Paul