The Case For International Investing in the GO Zone by Nicholas Marr
Overseas property investors are often attracted to emerging markets as places where they can secure low cost real estate before the rush. Typically emerging markets have not quite got the infrastructure in place and accessibly is sometimes questionable. There is one emerging market that not in a far flung place with a strange name this place is the United Sates Of America and in particular The Gulf Opportunity Zone or Go Zone.
The Gulf Opportunity Zone Act of 2005 (H.R. 4440 passed by Congress on Dec. 16, 2005, and signed by President Bush on Dec. 21, 2005) establishes tax incentives and bond provisions to rebuild the local and regional economies devastated by hurricanes Katrina and Rita. The act is commonly referred to as the "GO Zone Act."
While the entire state of Louisiana is part of the Hurricane Katrina Disaster Area, the provisions of the GO Zone Act apply only to a limited number of Louisiana parishes, defined as the "Core Disaster Area" and referred to as the "GO Zone." However, it is also important to note that the GO Zone reaches far beyond Plaquemines, Calcasieu, Orleans, Jefferson, St. Bernard and the other parishes most devastated by Katrina and Rita.
This means that businesses on the North Shore of Lake Pontchartrain, in Baton Rouge, as far north as Pointe Coupee and the Feliciana parishes, and as far west as Calcasieu Parish are eligible to take advantage of many of the provisions of the GO Zone Act, including tax-exempt bond financing for new investment and favourable tax accounting for both new property and Katrina-related expenses
Many areas of the United States currently have an oversupply of housing.
The Go Zone lost 65,000 homes in ONE DAY!
The Go Zone lost 11,000 short term rental rooms in ONE DAY!
In 2007 – 2nd Quarter reports showed:
$420.3 million in Gaming Revenue
$2.4 Billion in Capital Improvements
a TOTAL of 5,083 Hotel Rooms available 92% Occupancy
Go Zone Investment Property
This is great example of what is available to international investors. A brand new condo apartment block coming with 100% OF YOUR MORTGAGE FOR UP TO 30 MONTHS! plus all the tax savings of GO Zone investment property
Learn more Here GO ZONE INVESTMENT PROPERTY
Emerging Property Market in the USA
This is a true Emerging Market that combined with beneficial exchange rates and low property prices may offer the international investor superb opportunities
Learn More Go Zone Investment property
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April 14th, 2008 at 10:48 am
[…] and very low property prices may offer the international investor superb opportunities. (See blog International Investors Consider the Go Zone) The need for new housing in this area is substantial, and developers have been working to bring […]