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Getting A Handle On The GO Zone And How To Profit From It
By Mikey Backybacksac Published: 12/02/2009
Learning to take advantage of the GO zone will be something that one will want to do when it comes to real estate investment opportunities down in the Gulf Coast area. The Gulf Opportunity Zone, which was created after Hurricane Katrina slammed the area in late August of 2005, is more formally known as the Gulf Opportunity Zone Act of 2005, and is aimed at assisting economic recovery in the region.
Everyone understands that Hurricane Katrina struck the southeastern coastal states of Louisiana, Mississippi and Alabama particularly hard. Since then, all three states have been struggling mightily to get back to a point of economic equilibrium that is being hampered by the need to devote significant resources to rebuilding to overcome the effects of this very strong storm.
Congress has enacted several pieces of legislation aimed at providing timely relief, and this particular Act is considered by many legal experts to be one of the most significant and powerful recovery tools ever offered by the Congress. There are, contained within the Act, a number of economic incentives aimed at helping these three Gulf Coast states recover fully from the ravages of the hurricane.
In total, the incentives contained within the Act have created an environment where unparalleled investment opportunity has been made available for those willing to invest in the zone. Of course, a number of time frames exist and anyone wishing to invest in the region needs to keep that in mind if they wish to take advantage of all of the economic incentives offered in the Act.
Currently, the federal government is allowing those who wish to invest in certain property opportunities in the zone to benefit greatly from relaxed depreciation rules. Specifically, normal depreciation can be speeded up in the first year to 50% of the cost that was invested along with the normal depreciation. This bonus has created a set of powerful economic incentives.
Additionally, the Act has provided for a wide range of incentives such as a business that chooses to operate in the GO Zone to do what's called a "carry back" of their net operating losses. In accounting this is known as a 5-Year Net Operating Loss (NOL) Carryback. Businesses can carry this NOL forward for up to 15 years. This is significant in terms of investment potential.
Anyone who is interested in exploring their investment opportunities, including those who wish to invest in residential real estate properties, down in the zone can find one of several excellent businesses that exist for the purpose of helping match up investors with likely properties. Additionally, these businesses will also work to educate investors so that they may take maximum advantage.
And this is the most exciting part of being able to take advantage of investment opportunities in the GO Zone. It is always smart, to learn as much as one can after finding out about the opportunities available within the Gulf Opportunity Zone before jumping into the process of taking a home or a business and turning it into an extremely powerful income generator.