Biloxi, Mississippi is a hot market for income property investors right now and it’s all because of the capricious whims of a little hurricane called Katrina. If you’ve been paying attention to our posts here at Empowered Investor Network, and especially the ideas of founder, Jason Hartman, you know we’re big on analyzing supply vs demand.
When Katrina came screaming out of the Gulf of Mexico that night, the area lost more than 67,000 homes. Now 95% of the residents have returned and are living with friends and family or in FEMA trailers. In March of this year, 19,000 FEMA trailers were removed.
The result: BIG demand, small supply. We’re predicting it will take 3-5 years for the balance to right itself. In the meantime, owners of houses and apartments will clean up financially as people bid up rents for the few available housing units.
Add to this some truly invigorating economic growth like:
1. Major investments in area facilities by aerospace, healthcare, marine manufacturing, and the military.
2. $54 million airport expansion in progress.
3. Casino boom – currently 3rd behind Las Vegas and Atlantic City but with 8 more in the works. The centerpiece is a $700 million project between Harrah’s and Jimmy Buffett scheduled for 2010 completion.
To learn more about why we think Biloxi is a great opportunity for income property investors, check out the area presentation at www.JasonHartman.com/properties and then give one of our investment counselors a call at 714-820-4200 for more information.
The Platinum Team
