Investing in the MS Gulf Coast is a wise decision.
Pros: Rental market is up.
Military transfers at Keesler AFB (Biloxi) and Seebee Base (Gulfport) also FEMA trailers are being
evacuated and they need a place to live.
Real Estate is a wise decision.
Cons: Cost of Insurance, just be careful of where you purchase.
Think about investing in a property with tenants already in place with at least a one year lease.
I am a life long resident of Biloxi, MS and very aware of the current market conditions. I receive a minimum of 10 rental calls a day. Potential renters are looking for 2/3 bedroom 2 bath, convenience location (most desired cites for renters: Biloxi, St Martin, and Ocean Springs), and pet friendly. If you buy it, they will rent. I have the renters, I just need the HOMES to put them in. My agency has in-house property management services.
If you have any questions or would like to discuss the current market, please call me at 228-697-2816.
Century 21 Bay South Realty, Inc.
http://biloxi.ms.us/ http://biloxims.com That should get you started. Another source to view agent business/commercial listings would be http://loopnet.com . I provide a MS Gulf Coast MLS search at
Things are happening so fast here its unbelievable. If you need photos or any property investigated on your behalf, contact me if you wish.
77 Million Baby boomers retiring in next 1 - 10 yrs. They are wealthy, love to travel and gamble. Biloxi will become the 2nd largest gaming destination by 2010.
Current Casinos in the area
Beau Rivage Casino & Resort
Hard Rock Hotel and Casino
IP Casino Resort and Spa
Isle of Capri
Palace Casino Resort
Breaking Ground & Proposed:
USA Today Articleâ€”â€œCasinos bounce back in Biloxi building boomâ€
Gulf Coast News Articleâ€”â€œUpdate on Mississippi Casinosâ€
MSNBC Article â€œKatrina Dried up Rental Marketâ€
CNN Article â€œA Tale of Two Cities: Biloxi and New Orleansâ€
These units are run as vacation rentals and are generating tremendous cashflow for our clients â€“ over $600 mthly
Oak Shores - http://www.oakshoresbiloxi.com/
Harbor Landing â€“ http://harborlandingcondos.com
Why Invest in Biloxi, MS?
In 2007, Biloxi was one of the top 3 best-performing housing markets in the US.
According to the OFHEO.gov, House Price Index report of the 1st quarter 2007, Biloxi-Gulfport ranked #6 for the greatest year over year appreciation in the country, appreciating at 16%.
A recent article on CNN Moneyâ€™s web site lists Biloxi as one of the metropolitan areas unaffected by the nationwide real estate downturn.
Biloxiâ€™s Booming Casino Economy - To date, 11 casinos have re-opened employing 17,000 people and another 14 have been permitted to open in the next 3 to 5 years. How many thousands of people will need to be employed with these new casinos? (Hint: The mayor predicts that 18 to 22 casinos will re-open in the next decade, requiring 40,000 employees).
GO ZONE Tax Benefit â€“ 50% Bonus Depreciation
Consider this: If you buy one of the Oak Shores Studios at $109,900 and put 10% down, $10,900, you will see a 100% return on that investment in two to three weeks after closing; not in one to two years. Deposit is rebated back to you.
The seller will also allocate 2% towards your closing cost which is $2,180 and that would cover it.
$5,000 wholesale fee.
$109,900 sale price.
10% down payment = $10,900.
2% closing costs paid by the seller.
$10,900 designer credit rebated to you two to three weeks after closing = 100% cash return on your down payment.
$560 per month plus positive cash flow first year. (The second year it cash flows at $7,232; a 66% ROI.)
In less than 9 months, you have earned a 100% return on the $5,000 wholesale fee.
Your condominium is completely furnished including a 37â€ HD Flat Screen TV and down to the knives and forks. You own it all.
15.7% appreciation in 2007
Forbes / CNN predict a minimum of 50% appreciation in the next four to five years.
Receive the 50% GO ZONE Tax Benefit
Currently rents at 90% occupancy.