Ray

You really are getting stupid ...
As a ex car park attendant for Tescos .. I know what goes on in the world

scrubbedexpat099

Yanks do not like warm beer?

Bushmills

Hi Nicky, as I see this thread has somewhat derailed, perhaps I can help only by sharing my E-2 experience (albeit a Canadian one), over the past 6 months or so. My wife and I have long desired to be entrepreneurs in Florida, falling in love with both the concept and the geography (yes, for good or for ill, weather wise). We’ve spent the last two years researching and learning. At the outset, we were discouraged by the majority of posts, depicting the E2as the “last resort” visa, and discouraging many newbies in the process.

Though, like with most things, I took these posts with a grain of salt. For example - Do you need $200,000 as an initial investment? Perhaps, but in many cases, perhaps not. There are several factors supporting this claim:

1.The effect of the economic downturn has also impacted business selling prices. Those business that used to sell for over $200,000 are now often found for half of that price. Is the business any less viable? No, it just requires a new strategy……..

2.Spend time effort and research into a solid business plan. By doing this, you can first determine for yourself “is this business concept viable”? Secondly, if you can objectively sell the concept to your own logic filter, you then have the tools to sell it to those who matter – the U.S. Consulate.

Also, while you have been warned away from property management, no one has told you why. Property Mgmnt was actually our initial interest as well. However, once we went there, met with a business broker, spoke with more sellers than I care to recall, we realized that the property management sector in Florida has an atrocious, yet well deserved reputation. Essentially, all you are buying in this industry are contracts. The vast majority of PM sellers work from their home, and have very little in the way of FF&E.

Essentially, you’re looking at paying around $6,000 per contract, with no guarantee that those Customers will stay with you longer than 1 month. This was disconcerting to us. Also, the PM industry in central Florida is shady at best. Historically, many British folks (this is not to categorize ANYONE, simply stating of fact) came over in the 1990’s with ambitions of easy work and sunny skies – taking as much as they could and giving back little – the industry is not regulated.

The industry along the Davenport / Haines City corridor is dominated by these owners, who have taken as much as they can from their Customers, simply to make “easy money”. I speak from personal experience here; owning a vacation home, and working with several unscrupulous PM’s, as well as speaking with many during our business investigation.

For these reasons, we shifted our focus to admittedly, another saturated market – pool and lawn care. While on the surface, this market is littered, it is littered with small “mom & pop” shops, with little business acumen, and poor planning / Customer service. In other words, we found a niche.

That is the trick, take what people tell you, run it through your own logic filter, and find your niche. Are there limitations to an E2? Absolutely, but learn what they are and decide if they are limitations to YOU. For example, my wife and I don’t have children, so the fact that offspring must depart upon reaching adulthood does not affect us in the least. There are other pro’s and con’s, but I’m sure you’ve already read about those for yourself.

Sorry for the long winded diatribe, but I can empathize with what you’re going through, and hope all this blabbering helps you somewhat. As for us, we have our business conditionally purchased, have submitted our application to the Consulate, and are awaiting our letter of confirmation. Not a moment passes during the day I don’t think about it, and hope with all my soul that our hard work will pay off. I wish you and anyone else pursuing their dream the best of luck. Just remember, luck happens when opportunity meets preparedness.
Cheers,
Bushmills

BTW - sorry, yes this is my first post here. For some reason, I thought I was already a member, but it must be at another similar forum.

Ray

on the site you are a member ..you said
"My wife and I are in the beginning stages of our great Florida immigration adventure"

Which shows me you are really slow .... and never rush into anything
it was dated February 18, 2004

fatbrit

Is that due diligence?

Ray

the ultra diligence

Bushmills

Diligence never hurt anyone. Truth be told, we were derailed into a holding pattern for several years due to money constraints. Our Florida home investment turned into somewhat of a money pit, and we had to drain from our savings to support two households.

Only fools rush in.
Cheers,
Bushmills