All Forum Posts by: Matt Curtis

There are a lot of posts on here that discuss how the issue isn't necessarily the presence of "restrictions" as much as it is a number of "hurdles", particularly those related to taxation and financing. Really the only "restriction" related to an H-1B is that one cannot be paid for skilled labor ("employment") other than what is outlined in their LCA/H-1B petition. Non-citizens are generally allowed to own property and generate income generated from passive investments. They just need to be careful with how everything is set up. 

DISCLAIMER: Comments are for general/informational purposes only, not for the purpose of providing legal advice or entering into an attorney-client relationship with the reader. You should contact an attorney to obtain advice with respect to a specific legal issue or problem. 

I'm an immigration attorney so what I'm saying cannot be taken as legal advice for your situation, but the E-2 is definitely less costly than the EB-5. However, the E-2 is for citizens of treaty countries (like Turkey) to be ACTIVELY involved in the management of the company ("develop and direct"). Passive investments won't get you there, you need to develop, direct and actively manage a business. The requisite funds must be "at-risk", and the amount is determined on a reverse sliding scale based on the nature of your business. The process is a bit more involved than simply buying homes, fixing, then reselling on your own but REI is definitely not a bad option to pursue if you have the funds and the right guidance.

@Ginny Nelson TN is still an option but you need to have a sponsoring employer, and the position needs to fall within one of the NAFTA professions. Our founding attorney is a dual Canadian citizen, we have a good deal of experience with TNs and other employment-based visas (H-1B, etc). Given that the TN owes its existence to NAFTA, it is much more vulnerable to unilateral executive action than say, the H-1B. Like it or not Trump seems like he's doing everything he can to keep the promises he made during his campaign, one of which was to eliminate NAFTA. 

The E-2 visa is available to individuals from certain "treaty countries". The individual must own at least 50% of the company, and investments  made with the company must be "at risk" (meaning it's possible for the investor to lose their investment). As far as the amount is concerned, the only requirement is that the amount be "substantial". In other words, there is no set amount found in the regs, it is determined on a 'sliding scale' basis, depending on what kind of business/company the investor intends to pursue. 

Some folks pursue an E-2 through purchasing a franchise, but many use it in conjunction with a start-up or business they're looking to get off the ground here in the States. 

Part of an E-2 filing requires developing and submitting a detailed business plan. Given the tenuous legal status of AirBnB generally, it might be tricky to develop a qualifying business plan for purposes of an E-2. I would consult with an Immigration attorney on the specifics of your situation. Consulting with a USCIS agent is unlikely to produce anything fruitful, please correct me if I'm wrong.

DISCLAIMER: I am not agreeing to represent you by virtue of providing this basic, educational information. Do not act solely on this information. If you have questions, you must seek out a local attorney. 

I'm an immigration attorney, so I have to mention that what I'm saying here cannot be taken as legal advice. I'm just chiming in to let you all know that the EB-5 program is not coming to an end, far from it. I think the confusion exists due to the congressional activity surrounding the regional center "pilot program", which some thought might have been eliminated on September 30th. However, the program was extended as part of a continuing resolution and will be up for review December 9th (this has happened several times in the past). Basically, the program is continuing without change for the time being.

I'm currently authoring a blog post which will discuss the proposed changes, particularly as they relate to the real estate investment community. Many of the provisions in the draft legislation are subject to debate, but the EB-5 community across the board pretty much agrees that the provisions increasing the minimum investment amounts from $1m ($500k in a targeted employment area) to $1.2m ($800k in a TEA) are going to make it through.

Hi Paul, thanks for the advice that's very helpful. I actually recently bought the Rehab cost estimation book by J Scott, looking forward to reading it.

 Thanks so much Elizabeth!

@David Thompson 

Nice to hear from you, glad everything got straightened out with your wife.

What I meant is that I'm looking to learn from others who invest in markets outside of where they live (I live in New York, NY but want to invest in Richmond, VA). I'm looking to start in Richmond since I know the city but am also interested in learning about other areas as well. I'm really just interested in learning about setting up systems remotely. I'll reach out via PM, thanks.

Hi Taylor,

That's right I went to UR for law school.

I appreciate the info and opportunity to connect. I'll shoot you an email and we can follow-up that way. Great idea re. the foreign investor forum, I will definitely check that out.

Greetings BP,

I am an Immigration attorney currently living in NYC. I have been a member of BP for about a year, love all this great information and sense of community. I have no experience beyond purchasing my own apartment here in NYC and studying Real Estate Finance in law school. I was born, raised and attended law school in Richmond. Investing there makes the most sense, as I am intimately familiar with the city and have a strong network of real estate professionals whom I trust.

I am interested in learning and networking as much as possible in furtherance of obtaining my first rental property within the next year. I'd like to start out with small, multi-family buy and holds, while maintaining my full-time employment. I'm specifically interested in connecting with those who: a) have experience investing in a remote market; b) have experience investing in Richmond, VA; or c) are looking for someone either in NYC or Richmond, VA to provide work in exchange for knowledge. Beyond advising on Immigration issues (pretty significant value added if you're a foreign national), my strongest assets are writing, exhaustively researching a topic (I was published twice in law school), and looking at things from multiple points of view.

Thanks in advance, looking forward to working with everybody out there.