4 ms·
It’s still 500k to invest in poor locations. Unless I’m out of date and that has changed as well
by yardie 5y ago
It’s still 500k to invest in poor locations. Unless I’m out of date and that has changed as well
- csomar 5y agoIf I remember correctly, some fancy places in New York are eligible for the 500k exemption. Might check that!
- tim333 5y agoI think they used a gerrymandering type argument that the fancy place was part of an area including a bunch of poor folk. The drawing of the area was kind of creative. It was taking the piss slightly but they got away with it.
- thoughtstheseus 5y agoYou need to invest the money too. From my understanding most people pool the money into a ready-to-go Real Estate Development company which then makes real estate loans. Hence it's an equity investment, meeting the EB5 requirement, but in practice its basically a bond. Real estate money gets refinanced as long as the deal is not terrible.