BritGuyTN

what kind of development are you looking to do?

strip malls? condomimiums? subdivisions? malls?

Alex125

Nothing much just start with rebuilding existing homes so i can get a feel of how the US property development sector works then move up.

BritGuyTN

your chance of getting a visa is pretty close to zero with that

thats not development, thats rehabbing. everyone and their dog does it

also, just FYI what you are proposing is a sure fire way to lose your shirt right now over here - the market has crashed and people in that line of business are getting @ss-****ed without lube...

the e2 visa is for businesses that need a substantial amount of capital, rehabbing houses can be done with very little of your own money

Ray

Yup ..I have to agree house flipping is dying at the moment ..

BritGuyTN

dying?

i think most of your neighbours have more life in them and thats not saying much (based on some of the photos I have seen)

Alex125

I've been following the market it will come back within next 6 months. I've just found an online land seller and have sent email on weather or not you can build houses (or anything else) on the land.

It will be with all my money as i don't believe in credit. I can handle trading at a loss for a while not to long or i will lose the E2 (Right or wrong if not making money and trading at a loss you lose the E2).

I don't mind if it fails at least i have experienced living in the USA which is better than nothing right but i hope it doesn't.

Alex

Ray

[QUOTE=Alex125;5834547]I've been following the market it will come back within next 6 months. /QUOTE]

Umm!! most experts 2 years... but who knows

Make an appointment with the Lawyer I gave.... they can tell you if your
plan is feasible

Alex125

yeah i will make an appointment Ray i hope it OK.

fatbrit

Flipping property to make a living is a hard job at the best of times. You'll make it 10 times more difficult by doing it on a dicey visa which gives you minimal rights and can (and has been!) pulled and weighs you down with conditions (i.e. you need to employ people whether you like it or not), and do this in a country whose ways and culture you do not understand.

Why not just splash out on a nice vacation here, instead?

BritGuyTN

it won't come back within 6 months, I can say that with 100% certainty

these things take a while to go tits up and take a while to get better

18 months - 3 years is my estimate, longer obviously if we go into a protracted recession

also, not using credit for real estate is like not using a condom with a hiv-positive hooker

the best thing about realestate is leverage, if you take that out you may as well just put your money in an on-line savings account

not being harsh - just being realistic

check out these websites

www.thecreativeinvestor.com

www.biggerpockets.com

Ray

A much better option would be buy an existing business of whatever you fancy ..buy a house for yourself and flip that on the side ..

Alex125

I thinking accounting firm, CPA (Got a Accounting Degree) if this idea isn't feasible (I don't really want to go back into it boring at the best of times but only other business i know well) and start a second business on the side doing this.

Bob

better idea, though you'll have to check out the state requirements to be a CPA...but probably good business if you can get your head around US taxes for ex-pats and dealing with the dual tax treaty and pensions...

Alex125

I thought it was a crap idea nice to know it isn't I'm sure that i can get my head around US taxes.

TimFountain

Hmm,
Every Tom, Dick and Harry here is into flipping and re-building (even if they don't know what they are doing). Of course half of them are in forclosure now that the economy is turning. IMHO now would be a very bad time to get into this game.

- Tim