Most investors are starting to find out about the "GO Zone" and the tax incentives that it brings. Sure the Biloxi market is projected to be the 2nd highest appreciating city in the US in 2008. Sure the tax savings can be thousands of dollars for investors who build rental properties. But in my opinion, the satisfaction of rebuilding a "home" not a house for a gulf coast resident is the real reason to invest in the area. The monetary value that comes with it is just the cherry on top.
In today's Sun Herald in Biloxi, Anita Lee wrote an article regarding the emptying of FEMA trailers in the next few months. The tragedy is that most of the people moving out of the FEMA trailers have nowhere to live. Affordable housing is nearly non existent in the gulf coast. The federal government, and more importantly the locals, are begging investors to come in and build affordable housing. The great people of Mississippi don't want to leave the area that they grew up in. The problem is they may have to if affordable housing isn't built quick enough. Here are some excerpts from her article:
The number of FEMA trailers on the Coast had dropped to 3,690 by June 27, the governor's office announced Tuesday. That's a decrease of almost 60 percent since January, when there were 9,137 trailers.
The breakdown on remaining trailers: 1,943 in Harrison County, 889 in Hancock County and 858 in Jackson County.
"Our housing efforts are now moving from direct assistance with cash or a pre-constructed cottage to more complex and ambitious plans to construct literally tens of thousands of affordable rental homes," Barbour said. "This is going to be a complex and challenging effort, but it is part of the largest housing assistance effort ever undertaken by a single state, and it will leave the Gulf Coast with well more affordable housing stock than existed before Katrina."
I have teamed up with a few developers who are building affordable housing in the gulf coast area. Mississippi needs your help. Not only will you be investing in the second fastest appreciating market in the country, and be saving thousands on your tax bill, but you will be rebuilding a "home" for a Mississippi resident.
Please visit my website for more information: http://www.themoneytrein.com
Israel Emory
themoneytrein.com
