Go Zone Tax Benefits 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.
Here's 5 good reasons to purchase in the Go Zone:
*50% Bonus Depreciation in the first year of ownership for qualifying real estate investment buyers. This depreciation bonus can be carried back up to 5 years as well!
Demand for housing in the Go Zone will vastly exceed supply for the next 3 - 5 years. The Go Zone lost 65,000 homes and 11,000 short-term rental options in one day!
Gulfport-Biloxi is currently the No. 2 gaming center in the country with 11 casinos and 8 more anticipated to open by the end of 2009.
Housing Predictors gave Biloxi the number one spot on it's "10 Most Promising Housing Markets"
Hanover Companies exclusive Total Leasing Program that offers you the option of leasing your newly purchased condo or single family home to a corporate tenant for up to 30 months! The rent you receive as part of the T.L.P. generally covers your mortgage, taxes, and HOA fees for the full term of the lease. This means you could very well be cash-flow positive from day 1.
*INVESTMENT NOTICE:
INVESTMENT GOALS AND TAX LIABILITIES DIFFER FOR EVERYONE. GO ZONE INCENTIVES AND DEDUCTIONS MAY DIFFER IN TERMS OF GO ZONE QUALIFICATIONS. WE MAKE NO REPRESENTATION AS TO AN INDIVIDUAL OR PROPERTIES ELIGIBILITY TO RECEIVE GO ZONE BONUS DEPRECIATION AND/OR INCENTIVES. YOU MUST CONSULT A TAX PROFESSIONAL TO ENSURE YOUR ELIGIBILITY FOR GO ZONE BONUS TAX DEDUCTIONS OR OTHER INCENTIVES.
by: Kevin JSmith
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