Florida Real Estate, Tourism and Immigration News

EB5 Investment Visas for International Investors in the US

US GOVT ALLOWS DEVELOPERS TO ‘SELL’ HNW PERMANENT RESIDENCY VISA-BASED PROJECTS

The US government has finished the test phase of a new immigration category called EB-5 (Employment Based Statute 5), which grants individuals permanent residency in the US if they invest $1million into a local job-making business or property development.  The visa allows for a $500,000 investment if it is invested in an area determined by the USCIS to be in special need of economic stimulus.

Designed to boost a region’s economy, the scheme has been piloted in 23 markets across the US and allows a high net-worth investor (HNW) to move to the US permanently, as long as the project (residential, mixed-use or commercial), employs 10 people as a direct result of the investment. The developer or business owner is allowed to sell 35% of the business to 35 individual investors, each taking a 1% stake, along with property or a physical holding at the company.

Property professionals across the US have already started partnering with owners of mixed-use projects in the country and marketing this visa-property solution to HNW international buyers.

The latest partnership has been signed in Orlando, Florida, between mortgage broker and agency the British Homes Group (BHG) ( www.britishhomesgroup.com/eb5.php ) and the developer of a luxury twin-tower condominium resort, one mile from Disney World.

Bill Cowie, director of BHG, said believes that this will be of particular interest to agents with British, European, Russian and Asian clients.

“The US government is working to attract more investment into the country and this is a genuine solution for investors wishing to obtain a residency permit in the US,” he said. “The cost-of-entry is a little steep, but the financial returns are immediate and the life-style rewards are immense. Agents, of course, now have an exciting new product and substantial income opportunity for their clients both in the UK, Europe and around the world.”

Investors into the specific Orlando project will pay $1million for a 1% share of the development company and will receive two condominium apartments for personal use or rental income.

For more information please visit: www.eb5investmentvisas.com

Auctions offer best opportunities for Florida Real Estate Bargains!

“How to buy at auction” on-line seminars Tuesday October 7th and 21st at 7pm UK time.

Next Auction – November 8th, 2008

Top quality homes in Florida are at their lowest price right now, but to secure an even better bargain you need to go to auction.  Auction properties can be half price or less off current values.

For some Brits, however, bidding for a luxury home over the internet can sound daunting.  The on-line auction route is a quick and definitive route to buying a home and also saves money on airfares.  But how do you do it safely? And how can you be sure that what you are really buying is a bargain?

In order to help British people through the auction maze, the Orlando-based British Homes Group, (www.britishhomesgroup.com) in collaboration with Stirling Sotheby’s International Realty, the Florida affiliate of Sotheby’s in the UK, is hosting two complementary internet auction seminars on October 7 and 21 at 19.00 GMT.
 
The purpose of the British Homes Group “webinars” is to explain the process and answer all the questions potential buyers might have.  BHG will also feature a selection of quality Florida holiday homes and other investment properties in the Orlando area that will be auctioned by Stirling Sotheby’s on November the 8th. A free booklet – “A guide to Florida On-line Property Auctions” can also be downloaded.

Bill Cowie, director of British Homes Group says: “These auctions are not a dumping ground for private owners to offload secondary real estate rubbish.  In this market they are also a sales platform for top US developers to turn their newly completed luxury homes into much-needed cash.  As a buyer you need to be aware. The first step is to make sure you are dealing with reputable companies, get prepared and familiarise yourself with the procedure.  Then if your bid is successful, it may turn out to be the quickest, most hassle-free and best investment you’ve ever made.”

British Homes Group is an Orlando-based, UK-staffed estate agency and mortgage brokerage company specializing in finding and financing Florida holiday homes and investment properties for UK residents.  BHG is a “one stop shop” for all things Florida property and prides itself on offering advice and guidance with no pressure on people just enquiring about the market.

BHG has assembled a team of totally objective professional advisors on all subjects including UK and US law, immigration, tax, insurance and who will guide people through all aspects of buying a home in Florida, from on-line auctions through to buying furniture and sourcing decorators or interior designers. 

The next auction on 8th of November, will feature a selection of properties developed by Ginn Resorts (www.GinnResorts.com).  Ginn Resorts is a premiere US developer with many resort communities throughout the south-eastern US and Florida.  The featured properties are at:

1.  Reunion Resort near Orlando (www.ReunionResort.com)
2.  Bella Collina Golf Club near Orlando (www.BellaCollina.com)
3.  Hammock Beach resort on the Atlantic coast, east of Orlando (www.HammockBeach.com)

In a previous auction, and reported on by the UK’s Daily Telegraph, Sheila Harrison of Luton, Bedfordshire snapped up a new three-bedroom apartment at Lely Landings in upmarket Naples, West Florida for £100,000 ($200,000).  The list price was double that at $399,000 and a near identical apartment at Lely Landings was independently valued in November 2007 for $397,000.  Brian and Debbie Gill from Leamington in Warwickshire successfully bid $270,000 (£135,000)  for a 6th floor three bedroom apartment at Oceanwalk Condominiums on the south beach area of New Smyrna Beach, Florida. 

Lee Weaver, Director of Operations of The British Homes Group, says:  “In all our many years helping UK buyers find Florida dream homes, there has never been a better time for Brits to buy in Florida.  With high supply of properties and low demand from locals, and the difficulty of getting credit here, the market has never been so full of bargains.  The dollar has strengthened against the £ in recent weeks but still presents excellent value for buyers from the UK and Ireland.”

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For further information please go to: www.britishhomesgroup.com/florida-property-auctions.php Or call freephone 0800 096 5989 or (+1) 407 396 9914