Not only were Americans inspired to take immediate and positive action to help their fellow countrymen rebuild their lives, but people across the world were affected by the plight of those whose lives were quite literally devastated overnight.
Money poured into the Gulf Coast region in the form of charitable donations, international NGOs such as the French Red Cross, Mercy Corps and Oxfam arrived to assist, and to this day, thanks to the ongoing efforts of local communities and those assisting with the regeneration of what has now been dubbed the GO Zone, people from across the world are still keen to help out. Take Clare Staniforth-Armstrong from Manchester, Great Britain for example, she has invested into the GO Zone by buying 4 properties (2 duplexes) off plan at a development near Biloxi called Bayside Park. She has effectively financed the build of these homes that are now being rented out to local citizens who were displaced when the hurricane hit.
"I learned about the GO Zone and ways in which people like me could help from Danny Silver of Property Direct America. I subsequently did my own research into the GO Zone Act via US government websites and recognized that not only was this a chance for me to invest in an incredible opportunity, it was a very real way in which I could help. Now, not only would I consider investing with Property Direct America again because they have been so helpful, but I tell all my friends about the opportunity and encourage them to get involved too" explains Clare.
Danny Silver, Managing Director of Property Direct America explains: "Clare was typical of many investors who we have helped to understand the opportunities in the GO Zone. We have assisted investors from as far and wide as Iceland and New Zealand, Korea and Italy, and the one thing that all of these people have in common is that they were really affected by what they saw back in 2005. Many of these people had personally committed charitable funds at the time, but a few years on they wanted to do something ethical yet more proactive with their money. I feel that it was specifically for these types of people that the GO Zone Act came about – people who want to be proactive in assisting. The Act encourages inward investment which immediately and directly assists the local community whilst effectively providing the investor with an excellent, tax efficient, potentially high returning investment asset in return."
The development that Clare Staniforth-Armstrong bought into and which Danny Silver's company is currently promoting is Bayside Park, a development of eco friendly and energy efficient homes that are backed by the governmental and taxation incentives of the GO Zone to encourage investment into the region affected by Hurricane Katrina. Individual entry starts from as low as £87,000/$169,900 with a 90% LTV mortgage available. Investors buying in directly assist the community by providing housing, and they immediately begin profiting from their investment in the form of rental income, tax incentives and the potential for capital growth in what is one area of America with very encouraging fundamentals supporting the ongoing development of a positive property economy.
Having placed just £40,000 down on her properties, Clare Staniforth-Armstrong has already seen a return on her investment: "I've already seen a return of just under 11% on each duplex. Both duplexes also went up in price before being built too so that's instant capital growth even before the tax benefits and the rental income, which is a great early bonus!" In speaking about the specific development she chose, she commented that: "having done my own research to back up what Danny Silver told me, I felt relaxed and safe in his hands and received good advice to buy in the busy workers areas near Biloxi and the casinos where the best returns are expected over the short to medium term. I see this as a 5 to 7 year investment, and I am very pleased with the assistance I have been able to give to the local community and with the returns I am enjoying as a result."