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The US Government will pay me $36,500 to rent out property in the USA

Last post 27 Aug 2008, 2:27 PM by Paul Graveling. 21 replies.
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  •  30 May 2008, 9:55 AM 504119 in reply to 504041

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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 

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  •  02 Jun 2008, 7:47 PM 506025 in reply to 504119

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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 

  •  04 Jun 2008, 12:01 PM 507277 in reply to 506025

    Re: The US Government will pay me $36,500 to rent out property in the USA

    What is the MDA website URL?

    Thanks in advance. 


    20+ years of experience - US & UK. Free advice - see the blog.

    www.ChelseaPrivateEquity.com/blog  
    Filed under: ,
  •  04 Jun 2008, 12:15 PM 507285 in reply to 501973

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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. 


    20+ years of experience - US & UK. Free advice - see the blog.

    www.ChelseaPrivateEquity.com/blog  
    Filed under: ,
  •  04 Jun 2008, 4:28 PM 507663 in reply to 507285

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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 

  •  11 Jun 2008, 6:25 PM 512359 in reply to 507663

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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! 

  •  16 Jul 2008, 6:31 PM 537554 in reply to 499755

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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.

     

     

  •  16 Jul 2008, 7:51 PM 537608 in reply to 537554

    Re: The US Government will pay me $36,500 to rent out property in the USA

    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 

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