Sally Redux

Why not: people from all over the planet migrate to this American island paradise. As long as you're Corgi-registered, you're in.

Mummy in the foothills

I think they are now gas safe registered or something. I think corgi sounds much more cuddly.

Libby75

I disagree. All posts provide information and I've learnt a lot in just the last 24 hours.

Each new post provides new insight. In addition, I will do lots of side research.

All this together will lead to an informed decision. Perhaps I'll decide the US is not for me in which case all else is irrelevant. Perhaps I'll decide I do want to move, in which case I can research more heavily into the visa aspect. For ex. I'm able to get more cash, I have contacts who have offices in US etc.

The point is, as stated quite a few times, I'm not intending to move there any time soon. These are just intitial inquiries and curiousity.

There are those who fully understand what I'm trying to do and simply provide information I've requested, trusting I'm an adult who can make her own informed decision in due course.

There are those who seems to think I'm incapable of logical thinking and planning to buy our tickets in the next five minutes . And also seem to be more keen on being funny/sarcastic than providing info - that's fine, I can giggle along.

I'm relatively intelligent (or so it's claimed) and perfectly able to process information, so advising people not to "ply" me with info re areas and saying it's "not good for" me is odd (there are other words but I'm being polite)

Posts that have provided personal experiences, useful links etc are fanstastic - thank you and please keep more coming. I'm enjoying the learning process!

Bob

Reasons this is a none goer from the info posted: -

Investment capital is to small, that'll get you rent in some dodgy business park for a while, but then running costs, equipment etc.

$20-30K personal start up costs aren't enough either. You'll need several thousand cash up front to rent a place to begin with, then a car, expensive insurance, probably several deposits for every utility going, all because you've got no US driving history or credit history.

E2 might be good for a few years, but recently it seems many are granted for 1 year these days and then the renewal gets denied because the business didn't grow as fast as the business plan said it would. It's a tough game because if your plan is more realistic, you're less likely to get the visa in the first place.

What are you going to do for medical insurance? Self employed, it will be horridly expensive when you've also got a young child. There are many threads on this.

Realistic chance of moving country, well look at the rest of the EU, where you don't need a visa. There are also many other countries where you might have a better chance of getting a visa, Australia perhaps? South America.

Basically at end of day, it's got to be about adventure and what you appreciate about the country you're going to and actual things not dodgy holiday preconceptions. Anything else, especially the country you're leaving, tends to end in tears as it's same bucket, different shade of shit, once you're out of holiday mode and have to live the daily grind.

Good luck though!

Libby75

Thank you, this gives good info and makes sense.

Although my personal start-up is not $20-30k; Business start up $70-90k, but can add more IF I decide a move is what I want.

Living costs, rent, insurance etc. are all calcualted for separately.

I also have an MSc Uni degree, but haven't used this in some time, hence the idea of property, as I have several contacts in this area.

I'm not fully certain why, but I've never been interested in Australia and never even considered South America, hmm.

You're right of-course, about holidaying vs reality of living and this is something I'm very aware of.

Ray

in the UK its either 3 or 5 years

Libby75

Phew, one year did sound rather harsh in terms of trying to prove a business!

I should also say, I made a mistake , it's not 70-90k in dollars, but pounds, so... about $140k at the top end. Can add more if I get excited about US.

Bob

So what are your personal start up costs on top?

That's a hell of a lot of change to through away on a business, in a area you know nothing about, in a market that you know nothing about. Housing regs and being a contractor to do one up, rules can be polar opposites from one state to another and the things people look for in a property will be completely different to that of the UK.

The big issue you'll have though with this business model is not employing people. Anyone else doing it for a business will do a mix of cash in hand for illegals and dodgy contractors they know who will use those illegals to keep costs down.

You can't do that, you've got to employ people, pay minimum wage and the rest of it. So you're automatically not competitive in the market and at a massive disadvantage.

Plenty of folks on BE over the last year were saying they were only getting it for one year on a start up, this is as opposed to the folks who were buying an existing company.

Ray

unlikely I never read that
may be L1

Bob

It was for both.

Either way, to the OP....the money you're thinking of investing, plus personal start up income. If you can afford to continue living comfortably after putting that money in a bin and setting fire to it, then go for it, but if you can't afford to do that, E visa, with a kid, is a very expensive gamble.

You mention a Msci, what's it in? Perhaps better chance of working your way into a job that could do a transfer?

Sally Redux

Just adding another downer, sorry, but emigrating is extremely stressful even in the best of circumstances. If you're in a difficult place emotionally at the moment I think that's also a good reason to wait.

Libby75

You make some good points, Bob, and also great that my property business proposal is being discussed in a realistic manner.

I will never do anything without thorough investigation. Every step will be carefully checked and re-checked.

Having said this, no business is guarateed success. What I do know, is that I will do my best.

Phoodilicious

I'm sure you will continue to do your feasibility study as you have already started, but one thing you might want to know is that both in Fort Worth, TX and here in south Orange County, there seem to be a plethora of people who are involved in property in some way.

I was looking for realtors in both places and there was no shortage of people or people who knew people who did this, to the extent that my husband and I joked that "I bet they are a realtor" when we got chatting to someone new to us at a bar or restaurant etc.

Now we are more established and have made some friends, we have also discovered that there are a whole lot of folks involved in flipping properties, buying, renovating, selling. It is remarkable that they can all make a decent enough living out of it, especially when you see just how many properties are in foreclosure and short sales and seem to have to be selling at ridiculously low prices to get anyone interested in buying. However all the folks we have met who do the property flipping are retired and seem to do this more as a hobby.

I would imagine it might be a better longer-term investment to do the "buy-to-rent" thing if you can wait out the time needed to allow the property market to recover and you can put up with renters potentially trashing the properties. As an example, the house we rented in a very nice area about 15 miles north of Fort Worth had an excellent rated schools district and was considered a desirable place to live (also rated a very safe place to live), this house was a 2006 built 2 story detached home of approx. 2500sqft with a good sized garden backing onto a green belt and small lake. It had all the mod cons, solar windows, air con, granite, etc etc and went up for short sale as we were moving out. It realized $132k and the property inspector spent 4 hours inspecting it whilst we were still there and said he could find nothing wrong with the property at all. So all-in-all a great buy for someone who could afford to wait to get a return on their investment but who could easily rent it out to folks like us who looked after the place.

I obviously cannot speak for other places/other States but property does seem to be something that an unexpectedly high number of people we have met seemed to be involved in.

MMcD

How about considering a safer "investment" - one in yourself?

Now the following doesn't appear to be something for which you'd be eligible to apply given the length of time that's probably lapsed since you got your degree
http://mam.som.yale.edu/admissions

.....but considering a return to academia just might open your thoughts to other paths worth exploring.
Resuming your studies would be something you'd not only be free to pursue in the UK but it also might even be a way to get a US Visa (tho with your child - I don't know ).
You'd also make US contacts in your real area of expertise etc. etc......you can quickly imagine the positive ramifications....
In addition, and not to be overlooked - it would provide a new community for you - which, if you were able to do it in the States, would be a bit of a protective cocoon.
What do you think?

Libby75

Thank you for this info, insight like this is very important.

Are your friends who deal in property able to make good profits in this climate?

Orange County eh? Sun! My body is seriously craving this at this stage in the winter!