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Property Profits May Hit 233% From Land Deal
March 20, 2009Article by Ray Withers
Investors can stand to make a massive 233% profit from a new exclusive US property investment deal.
Fairway Residence is a gated resort community set in the heart of the established Island Green Country Club at popular retirement resort Myrtle Beach, South Carolina.
Investors can secure a building plot at a pre-launch price of £21,000, exclusively through Property Frontiers. The plots offer the opportunity to either land bank or to construct a luxury home and take advantage of the uplift associated with property development. Investors will have the option to develop their plots through a joint venture between Property Frontiers and one of South Carolina’s most experienced developers Tower Developments.
Options will include three and four bedroom-detached houses. The development offers world-class golf and is minutes from one of America’s finest beaches. Unlike many land development opportunities the infrastructure and luxury facilities are already in place, including a clubhouse, indoor and outdoor swimming pools, tennis courts, a fitness centre, and a business centre. Pre-launch land plot options available from £21,000 for a limited time only Comparables on the same development are selling for $89,000 (£63,000).
Due to many retirees in the area, many special activities are organised and the state government promotes tax benefits. The Homestead Tax Exemption absolves seniors who have lived in South Carolina for one year from paying municipal, country and school taxes on the first $20,000 of their home. Retirees also benefit from a $3,000 income tax deduction. That amount increases to $10,000 when the retiree reaches 65. The maximum income tax rate is 7% on all income over $11,400.
This exclusive offer is limited to a few plots and represents great value for money in the current US distressed property market by coming in at 66% below market value plus offering further scope for development profits. Island Green is set on over 200 acres of beautiful rolling hills, rivers and lakes, and offers a stunning location to relax. Surrounded by nearby golf courses, trekking and fishing locations, guests can truly benefit from its secluded location. The resort is already proving popular with those currently living and holidaying there.