Local Chicago Real Estate Investors fund new construction housing for Katrina victims in Mississippi. Fifty-plus houses will be built for families that are part of the 17,000 people awaiting homes in FEMA trailers. Springboard Real Estate Investor Academy partnered with a Florida developer to make this a reality.
Lombard, IL. (PRWEB) October 14, 2007 -- The Springboard Academy and Ryan Real Estate joined forces to provide housing to some of the 17,000 people waiting in FEMA trailers for a place to call "home."
The two sister companies, Real Estate education academy and brokerage firm, researched numerous development opportunities in the Gulfport area over the last six months to be certain that they were providing quality construction and good neighborhoods for the people. The project they rolled out provides four bedroom, two bath custom built homes for under $165,000. "We have been looking for a way to get involved with helping those in need in the GoZone and felt like this was a win for both our investors and the people in Mississippi," says Doug Crowe, founder of Springboard Academy and host of his own talk radio show on WLS.
The development project takes advantage of the Mississippi incentive program including up to $40,000 in cash incentives for investors and 50 percent bonus depreciation. In exchange for these incentives, the investor agrees to rent out the house for a minimum of five years. "We have examined over 51 distinct investment opportunities over the past 18 months," commented Colleen Herrera, Ryan Real Estate's broker-owner. "Of all of these projects this one had the most appealing incentives for the average investor along with providing desperately needed quality housing."
Construction of the homes that are being funded by local investors are slated to begin in the next 30 days and completed within 90 days. "This will give the families a wonderful start to the New Year in their new homes," added Crowe. "For the investor, there is a distinctly short window of opportunity to invest in an area that has beaten the bubble. With over 15 percent appreciation, huge demand, limited supply and eight new casinos going in, the area is nothing short of spectacular. With the Mississippi incentives, it makes the project a home run," quipped Crowe.
Springboard Academy, founded in 2001, is an alternative to late night infomercials and books and CD programs for serious Real Estate Investors. For more information, call 630-889-9900 or visit www.springboardcorp.com.
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