Who has entered US with an EB5?
#16
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Joined: Nov 2007
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Re: Who has entered US with an EB5?
I see the whole real estate argument as a 'bums on seats' and location issue . If you have enough tenants the property will sell, especially in a world with low or zero interest rates. And if you have the right location you will (eventually) get the tenants. Yes, getting tenants has been a huge problem for Amlife and others...no doubt about that.
New Orleans > from the limited information I have this issue has nothing to do with the investments made in property.
Yes, these are all crap deals and the fees are too high.
New Orleans > from the limited information I have this issue has nothing to do with the investments made in property.
Yes, these are all crap deals and the fees are too high.
Last edited by cranston; Mar 5th 2014 at 7:39 pm.
#17
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Joined: Jan 2012
Location: North Yorkshire England
Posts: 2
Re: Who has entered US with an EB5?
Been here over 4 years on an EB5 visa, have been invested for over 6 years.
All these schemes are crap and no risk does not equal opportunity. There are good risks and bad risk. All EB5 schemes are bad risks. However, some are less bad then others.
If you are not prepared to lose $550K (dont forget the $50K in legal fees etc) don't start.
If you have a specific question ask.
All these schemes are crap and no risk does not equal opportunity. There are good risks and bad risk. All EB5 schemes are bad risks. However, some are less bad then others.
If you are not prepared to lose $550K (dont forget the $50K in legal fees etc) don't start.
If you have a specific question ask.
Did you go it alone or did you seek advice from a company/person who advertises to help those wanting to go down this route?
C.
#18
Forum Regular
Joined: Jan 2010
Location: Florida
Posts: 80
Re: Who has entered US with an EB5?
Thank you for your reply Cranston. Seems like you are the only one to reply that has actually gone down this route. You say you have been invested for over 6 years. Has that run over/beyond the original time limit for your investment? Is that why you say that ALL EB5's are bad risks?
Did you go it alone or did you seek advice from a company/person who advertises to help those wanting to go down this route?
C.
Did you go it alone or did you seek advice from a company/person who advertises to help those wanting to go down this route?
C.
#19
Re: Who has entered US with an EB5?
I often see it described as $500,000 for LPR status. No - it's $500,000 plus fees and hassle for the possibility of maybe getting LPR status. It's not guaranteed you'll get it and you could lose all of that money.
Not an enormously likely outcome, but far from impossible. Wasn't there someone on here who got put in removal proceedings when their I-829 was turned down, or was it just a link? I seem to remember also some rule change about job creation in another thread that caused all kinds of problems when USCIS changed their mind.
So be prepared to lose a lot of money and get deported.
Wow I've just really depressed myself, that was a negative spin if I do say so myself. On a brighter note, the quota will likely be exhausted soon so it won't be an option anymore.
Not an enormously likely outcome, but far from impossible. Wasn't there someone on here who got put in removal proceedings when their I-829 was turned down, or was it just a link? I seem to remember also some rule change about job creation in another thread that caused all kinds of problems when USCIS changed their mind.
So be prepared to lose a lot of money and get deported.
Wow I've just really depressed myself, that was a negative spin if I do say so myself. On a brighter note, the quota will likely be exhausted soon so it won't be an option anymore.
#20
Re: Who has entered US with an EB5?
BTW, the standard EB-5 investment is $1 million with a set aside for $500,000 in limited areas.
#21
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Joined: Jul 2010
Posts: 31
Re: Who has entered US with an EB5?
Huge relief!
We knew when we invested that we were basically just 'buying' a GC. It is definately not for the faint hearted, the process is long and very daunting.
Only invest if (1) you can afford to loose the money and (2) are prepared to not gain too much on your initial investment.
Good luck!
#22
Re: Who has entered US with an EB5?
Further BTW: The "regional centers" are not the only method of obtaining EB-5 status. One can set up one's own new business which will create 10 new jobs. Or sometimes one might fit an existing business which fits the regulatory definition of "distressed" where the investor things they can do a better job and thereby SAVE 10 jobs that would have otherwise disappeared.
True story: a colleague did an EB-5 for a tech start-up [combination of own capital and venture capitalists in home country] for $1 million. When it came time to remove the condition, the immigrant is still running the operation and it has a 150 employees, but has been purchased by IBM for $50 million. My friend was worried it did not fit within the strict definitions for removal of the conditions. Turned out to be no problem.
True story: a colleague did an EB-5 for a tech start-up [combination of own capital and venture capitalists in home country] for $1 million. When it came time to remove the condition, the immigrant is still running the operation and it has a 150 employees, but has been purchased by IBM for $50 million. My friend was worried it did not fit within the strict definitions for removal of the conditions. Turned out to be no problem.
#23
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Location: Kentucky
Posts: 38,865
Re: Who has entered US with an EB5?
#24
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Joined: Sep 2008
Location: Rural Virginia
Posts: 1,076
Re: Who has entered US with an EB5?
Further BTW: The "regional centers" are not the only method of obtaining EB-5 status. One can set up one's own new business which will create 10 new jobs. Or sometimes one might fit an existing business which fits the regulatory definition of "distressed" where the investor things they can do a better job and thereby SAVE 10 jobs that would have otherwise disappeared.
True story: a colleague did an EB-5 for a tech start-up [combination of own capital and venture capitalists in home country] for $1 million. When it came time to remove the condition, the immigrant is still running the operation and it has a 150 employees, but has been purchased by IBM for $50 million. My friend was worried it did not fit within the strict definitions for removal of the conditions. Turned out to be no problem.
True story: a colleague did an EB-5 for a tech start-up [combination of own capital and venture capitalists in home country] for $1 million. When it came time to remove the condition, the immigrant is still running the operation and it has a 150 employees, but has been purchased by IBM for $50 million. My friend was worried it did not fit within the strict definitions for removal of the conditions. Turned out to be no problem.
#25
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Joined: Nov 2007
Posts: 906
Re: Who has entered US with an EB5?
You say you have been invested for over 6 years. (1) Has that run over/beyond the original time limit for your investment? (2) Is that why you say that ALL EB5's are bad risks? (3) Did you go it alone or did you seek advice from a company/person who advertises to help those wanting to go down this route?
C.
C.
(1) Yes, we have run beyond my original estimates. I was expecting to cash out in 2013. I'm invested in a property EB5 RC and getting tenants since 2010 (building completion) has been a very tough job. However, things are looking better. I hope to have some positive news this year.
(2) My personal experience has nothing to do with my POV. I looked at many schemes (scams) when I was choosing in 2007. Since then I have had many conversations with potential and actual EB5 investors on many different EB5 RCs. Yes I make quick judgements, but I know crap when I see crap and to me they all look crap.
(3) I went alone. Don't trust anyone who offers advice on EB5 RC. The are just too many people who get back handers. I did get some great advice from various lawyers on who and where to avoid. Certain cities (like New Orleans) are well known for corruption.
Good luck.
Last edited by cranston; Mar 14th 2014 at 2:06 am.
#26
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Joined: Nov 2007
Posts: 906
Re: Who has entered US with an EB5?
From what friends tell me a substantial number of the small business in and around Dallas airport are exactly that. IMO far better opportunity then the RCs
Last edited by cranston; Mar 14th 2014 at 2:11 am.
#27
Re: Who has entered US with an EB5?
Its a bit manic spitting myself between two places, however once I get the right staff in place in London I can then devote more time to my project in LA. Any referrals would be awesome. Thanks in advance
#28
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Joined: Sep 2008
Location: Rural Virginia
Posts: 1,076
Re: Who has entered US with an EB5?
Please keep us posted on your progress. I have seen a few projects which may have been suitable for the non RC route but never seen one actually undertaken.
#29
Re: Who has entered US with an EB5?
Thank you, I most certainly will, it has so far been a very interesting journey of trying to spend as much as possible but I finally thing I have hit the right figure. I now have to start surveys and get development and refurbishment on the way.