Ashford W Meikle, Business Reporter

If the meteoric success of the Jamaican-born Floridian businessman and pastor, Dennis Grant, is anything to go by, then, without a doubt, investing in land is the path to building financial wealth and living the American dream.

"You don't need a have a green card or be an American citizen to purchase land in the United States. Four years ago I was broke but I knew where I was going and started seeking opportunities," said Grant in a presentation Wednesday at the Hilton Kingston hotel as he encouraged the participants to invest in land through his company, Florida Topland, Incorporated.

"The key to building wealth is through real estate. it's the safest investment with the highest return on investment."

According to Grant, he left Jamaica for the United States in 1986 with only US$350, doing various odd jobs while at the same time pursuing his dreams to be wealthy.

Four years ago he bought 20 acres of land in Florida with financing from a bank. He sold it six months later, collecting a profit of US$105,000 along the way.

With the proceeds from this sale he invested in other properties in Florida, South Carolina and Texas, which he is offering to Jamaicans.

"It would be very selfish of me not to offer you this in Jamaica," he pitched to the audience.

Today, Florida Topland has grown from a US$120,000 company in 2003 to a US$17 million company with the ability to source land anywhere in the United States.

Grant is offering for sale 4,000 acres of land in Topland Meadows, located on the outskirts of El Paso, Texas.

Development prices

The development is sold in parcels of 20 acres, starting at US$1,100 per acre or as low as US$22,000 for each parcel. The lots cannot be further subdivided.

The developer is offering financing - with monthly payment as low as US$399 - and there is a discount for cash purchases. Locally, real estate agent, Hope Codlin, is handling the sales for the development while Capital and Credit Merchant Bank is offering financing of up to 80 per cent to qualified buyers.

Capital and Credit Financial Group chairman, Ryland T. Campbell, said he had checked out Grant thoroughly.

"I know that he is a good man," said Campbell, endorsing the development.

El Paso borders the state of New Mexico and is located on the U.S.-Mexico border - it is possible to walk across into either country - and is the 21st largest city in the United States with a population of about 600,000.

In 2005, the median house price in El Paso was US$108,000, compared to US$647,000 in San Francisco, California, or US$166,000 in Austin, Texas.

The city, which has had a booming economy in recent times, is known for its high-tech industr parts of it are prone to severe flooding during the summer.

Stressing that Topland Meadows is close to El Paso's major developments, Grant outlined the benefits of buying into Topland Meadows such as the low crime rate, the low cost of living compared to other major American cities, low taxes, insurance and utilities (compared to states like New York and New Jersey), no traffic congestion.

For those who are hesitant about doing business with overseas developers, Grant stressed that buyers should know the people with whom one transacts business.

"We are listed with Better Business Bureau in the United States and, to date, we have never had any complaints or legal action against the company."

ashford.meikle@gleanerjm.com