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Investors Plough Cash In To US Land
July 30, 2009Article by Ray Withers
Investors looking for a secure place to stash their cash with plenty of exit options are banking on US land investment rather than poor performing saving accounts.Land banking – buying up plots that are likely to increase in value as the areas around become more developed – has always been a popular US investment with some famous celebrities like Bob Hope and Charlie Chaplin making millions out of the spread of Los Angeles.
Now, some prime South Carolina real estate is up for grabs – with the bonus that it lies within a development area and already has zoning and infrastructure.This makes a big difference, because the risk of whether building will be allowed on the site is removed.The investor has exit options with land with zoning – either building out and selling with a developer or just holding on to the land and selling on at a property to a third party to develop.
Plots are available for land banking at The Fairway Residences, part of the 20-year established at Island Green Country Club, Myrtle Beach, South Carolina.With the pound and euro rising against the US dollar, currency fluctuation makes a US property investment even more interesting.Dubbed one of the world’s golfing capitals, Myrtle Beach has over 100 courses to match the talents of most players.
The balmy South Carolina climate makes the state a popular holiday destination that lures more than 14 million visitors each year, that is an attractive market for holiday lettings.As if the golf wasn’t enough,South Carolina has the 60-mile Grand Strand of pristine beach, of which Myrtle Beach is a part.South Carolina is also easy to get to in the US – only 40 minutes flight from New York.
Fairway Residences, South Carolina, consists of 287 properties of 2125 sq ft to 2002 sq ft. The build period for each property averages 30 weeks although completion can be delayed.Investors can secure a building plot at a pre-launch price of £21,000, exclusively through Property Frontiers stand to make a massive 233% profit if they develop the land with a building partner.