Select Highlights of the Interview with Ravi from India
EB-5 Investor in the EB5AN Saltaire St. Petersburg EB-5 Project
The best part about the updates that I’ve been getting is I was provided with the links of what the status of the project is….how many flats were sold and how much of investment did the Kolter project invest in and how much is the investment of all the EB-5 included in that project.
I did go to other places like North Carolina and Ohio and New Jersey, but I didn’t find any project that was already successful or any developer that was already successful and kept doing multiple EB-5 projects.
EB-5 investment is one of the best investments I have done in my life, as I mentioned. And it’s definitely worth it. Because as I mentioned, getting an EAD and advanced parole is a great deal for me, because as a H-1B, choosing jobs and maintaining that job in a particular state at a particular place is very important.
Full Interview with Ravi from India
EB-5 Investor in the EB5AN Saltaire St. Petersburg EB-5 Project
Why I Made an EB-5 Investment
Choosing EB5AN and the Saltaire St. Petersburg Project
Yes, back in 2019, there was a lot of projects that were going through because we were in that transition phase of 500,000 to 800,000 or 900,000. We never know. So we were in the transition phase, and I wanted to finalize the best project because I don’t want to lose the best project. So I did go through a couple of other projects, like EB5 Fast back in North Carolina, and there was some other project in Ohio. But I went with Saltaire and Kolter’s project because of their success story, because I see that there was another condominium complex which was already built successfully around five plots away from the St. Petersburg project. So I thought it would be the best investment because they already have succeeded in multiple EB-5 projects, and the St. Petersburg project I chose because it was giving me 6% equity on it.
So I thought at that time, back in 2019, this was one of the highest equity projects that I have seen, and I was pretty sure that, based on their success stories—Kolter—I was pretty sure that they will be finishing off this project within the provided time. And they did finish the project, and when I invested, the project didn’t even start. I was fortunate to go to St. Petersburg, and I visited the place. The place was not even started at that time when I invested, but I was very confident that the project will start and it’ll finish off in a proper time. Even though Covid and everything affected, the project did not stop, and all the houses, all the flats were sold in time, and I got my 6% investment, the—what do we call—the interest that I have to receive, that I have received within the time as promised.
Sure, Sam. So as I mentioned, I went to the project as soon as I signed, because I’m a little bit scared of whether the project will start or not, and I wanted to make sure I did some due diligence myself as well, just to make sure I went there. I saw the place, and it was basically a parking lot and nothing was started. But soon after I signed up, I started getting these emails from EB5 Affiliate Network regarding the progress or regarding the updates of the project. That made me so comfortable where I’m right now, because I stay in Austin or I stay in different places. I was in Philadelphia. Then the next year I moved to Austin. The next year I moved to California. So I keep moving. Due to my job, I keep moving different places. So it’ll be really tough for me personally to go and look at the project myself. But EB5 Affiliate Network did send me regular updates on when the project is going to start and what is blocking it, because that was a time when Covid was at the peak stage, and EB5 Affiliate Network made sure that, okay, the project has received all the approvals and the project is going to start or the project has already started. All those updates I’ve been getting.
And the best part about the updates that I’ve been getting is I was provided with the links of what the status of the project is, and also I was provided with the pictures of how it was being constructed. And the best part about the updates were how many flats were sold and how much of investment did the Kolter project invest in and how much is the investment of all the EB-5 included in that project. So these are some of the best parts. Which I found out that it’s best because I got a clear-cut idea of what’s the project investment and what’s the EB-5 investment and how we are affecting the project and how the project made sure that it had progress continuously respective of the amount we were investing.
So that made me so comfortable, and that made me choose this project when compared to the others, because the others I did not feel so confident. I did go to other places like North Carolina and Ohio and New Jersey, but I didn’t find any project that was already successful or any developer that was already successful and kept doing multiple EB-5 projects. So that’s one of the only reasons I chose EB5 Affiliate Network and this particular project, the Saltaire St. Peterburg project.
Choosing an EB-5 Immigration Attorney
Definitely. Yeah, so I did go through one of the preferred attorneys that you have sent to me. I did do my due diligence on that as well. So I made sure that I checked all the websites on whether their attorney is good or how much experience does he have and everything. Because choosing an EB-5 attorney for myself is very important, because I have to go through all the H-1B process and I have to make sure that the person who is filing my EB-5 application should also know about the immigration process and non-immigrant visas, what I’m going through right now, so that he can better support me. So I did talk to multiple people, multiple attorneys, multiple law firms in order to choose which one is better, because if somebody knows about EB-5 and somebody doesn’t know about non-immigrant visas, I’ll have to pay for two different attorneys to get a proper answer.
After a lot of research and everything, I chose Christian from JW Law Firm as my preferred attorney, and I went through him. But the application process was a little bit hectic, because I have to go through all this sort of funds and everything from where I started back in the US until now. The application process was a little bit hectic, but the attorney made sure that he has to submit each and everything so that in the future we won’t have any delays while adjudicating the application. So that’s the best part of the attorney. He never quickly, hastily took decisions to just submit the application. He made sure that he had all the documents that I have to submit, and he made sure that each and every penny that I’m investing in the EB-5 is proper and genuine. And then he submitted the application. I know it has been delayed by a couple of weeks, but I feel that that’s the best decision, because when at the time of adjudicating the application, I will not be having any issues on that one. But yeah, that’s how I chose Christian from JW Law Firm.
I was provided with a couple of attorneys from EB5 Affiliate Network, and then I did do my due diligence on which attorney to choose. So I went with Christian Triantaphyllis from JW Law Firm. I went with JW Law Firm and Christian because he has experience in filing EB-5 applications, and also he has very good knowledge in the non-immigrant visa application as well. As a non-immigrant background myself, I need an attorney that knows non-immigrant visas as well as the immigrant visas. So I chose Christian Triantaphyllis. And the process and the experience with Christian was really great. I say this is because he made sure that all the documents, each and every document … Because as an investor from India, he has to make sure that all the source of funds funds are really genuine and where the funds are coming from, whether it is back from India or whether the funds were generated in the US. So there are lots of things that we need to consider when filing an EB-5 application.
So Christian Triantaphyllis is very experienced in this aspect, and he made sure that the funds that are coming from India are genuine and all the documents that are needed. He made sure that he provided me all the list of documents that are required to make sure that the funds that are coming from India are genuine and to show the USCIS the 500K that have been invested are genuine funds from my side. And the best part of going through Christian is he made sure that I’m clear on the application process. We had very frequent calls, weekly calls, and twice a week we used to have our calls to understand and to go through the process, whether we are going fast or whether we are making sure that all the applications are good to go and all the documents are uploaded properly.
And he did provide us with a safe and secure link where I can upload the documents, and the list of documents he provided in that secured link, and I uploaded all the documents so that my documents are safe enough, and all the documents that have been uploaded will be automatically deleted. That’s the confirmation that he has provided. All the documents were deleted after submitting it, the EB-5 application, the USCIS application. So that was the best part I would say, because he didn’t hurry and he didn’t take any hasty decisions to submit my application, even though we were in the last phases of the 500,000 limitation, because after November 21st, it was going to change. So he made sure that all the documents are properly submitted so that, while adjudicating the application, no other issues will come up and no other issues will arise. And that’s the reason I chose Christian from the JW Law Firm.
High Returns from the Saltaire St. Petersburg Project
Yes, sure. So preferred return was very important for me. I am stressing very, because when I’m investing, something I would expect a little bit of return that I will be getting. I understand I am applying for a Green Card, but 500K is not a small amount. I do expect something in return when the process is still going forward. So the 6% equity return is very important to me for choosing a project, because I knew that the EB-5 process is going to take a few years, because I will be getting a conditional Green Card and then after two years I’ll be getting my return. So it takes an ample amount of time—not compared to the EB-2 or EB-1 or EB-3 applications, but EB-5 does take at least the five years of time to process or to adjudicate the application. So I was very adamant that I choose a project which gave me high returns at that time.
So at that time, this is one of the only projects probably that was giving me 6%. And also this is one of the only successful projects at that time. With the previous success history, this was the only project at that time. So I did go through this investment with a 6% return. And recently, as promised—after the project starts, I was promised a 6% return for every three years, and due to the unforeseen circumstances of Covid … But still the project did start within the timeframe that was promised that it was going to start. And the project started back in probably 2021 or end of 2020, I vaguely remember. But the project started, and from the project start until now, I was provided with all the K-2 forms for my tax filing every year.
And exactly at the end of the three years, the project was successfully almost completed, and all the flats were sold—completely sold—and I was provided with the investment return of $95,000. When I invested, getting a $95,000 within a span of three years of the project start is a very good investment I would feel. That’s one of the reasons I still support and I still choose EB5 Affiliate Network, is because they made sure that they’re very adamant with their promises, and they did return back the returns that I happily received.
Oh yeah, definitely. Yeah, it’s the best time that I received the money so that I can shop. And as I mentioned, I did go on multiple trips. I know investing in EB-5 was also one of the best decisions because I did get my Green Card EAD, and I also got my advanced parole, which is very, very helpful. I can’t express … Because as a H-1B candidate, I understand how difficult it is to get a visa stamping back in India, how difficult it is to move to another job, and how difficult it is to stay in one place. So all these three were completely resolved with just one investment of EB-5. And I bought a house in Austin, and I was able to use the advance parole document and I was able to travel around the world. I was also provided with the Green Card EAD, which helped me to choose a job which I like, rather than going for a job which wanted me to travel multiple places. But this is one of the best investments I have made in my life, I would say.
Benefits of EB5AN’s Boynton Beach EB-5 Project
Great. Obviously the concurrent filing—the EAD and the advanced parole—super, super helpful, especially for investors like you who are in the US already. Just having that flexibility to change jobs freely, move around, travel internationally—really, really helpful. And we’re so happy that that worked out nicely. Great. Alright. So we’re going to shift gears now and chat for a few minutes about our current Boynton Beach equity project, and then we’ll follow up with Ravi on just one or two other questions before we wrap up. So just like the Saltaire equity project that Ravi joined several years ago, just given the success of that project, we’ve decided to open up a new equity-style project also with Kolter called Boynton Beach Multifamily, essentially an identical structure as the prior Saltaire project. This project is being developed by Kolter. It’s in Boynton Beach, Florida, just a few minutes from the beach.
Kolter’s been developing real estate over the last 25-plus years with a perfect track record, over $24 billion. Like the Saltaire project, this project also offers a very high, above-market annual preferred return and a shorter investment timeline of just less than four years. It’s an urban infill location, so everything around it has pretty much already been developed. The project has a large amount of equity, about 45%, and we’re targeting total returns for investors of more than a hundred thousand dollars. Given the higher investment amount, the total return here will be a little bit higher. This is a map showing where most of the prior Kolter EB-5 projects are located. We do have some in other states, but most of them are in Florida. And you can see there, number 11, the Boynton Beach project on the East Coast. And this is an overview of some of the prior Kolter projects just to give you an idea. We’ve seen a number of projects through from start through completion. And I think most important here is that Kolter successfully executes on their developments. So because they’ve built hundreds of projects, they know pretty well from the start about how long things are going to take, and they’re pretty good about executing on time, and most between three and a half to four and a half years.
So one of the things that’s really important about working with EB5AN and Kolter is execution. And because Kolter’s prior projects, they’re very good at estimating exactly how long a construction timeline will actually take and anticipating how long it will take to lease up and for the sale of condominiums in a given project. And so this gives you an idea of how they’ve executed successfully on prior projects and how the Boynton Beach Multifamily, the current project, fits in terms of the other projects that they’ve done recently. Also, this is kind of another comparison with the Boynton Beach project directly against the prior Saltaire St. Petersburg equity project that Ravi joined. And you can see here that the project exit timeline is very similar. So once construction starts, through completion, and then the same for the Boynton Beach, you’ll see it’s very, very comparable, and we’re planning on the exact same type of structure where investors funds are deployed and then are earning an above-market high return. So it’s basically an identical structure as the prior Saltaire project, which just exited and was exactly on time. And now, just given market demand for this style of project, we’re now opening up the Boynton Beach Multifamily equity project.
Concluding Advice for EB-5 Investors
Yes. Oh definitely. Yeah, definitely. EB-5 investment is one of the best investments I have done in my life, as I mentioned. And it’s definitely worth it. Because as I mentioned, getting an EAD and advanced parole is a great deal for me, because as a H-1B, choosing jobs and maintaining that job in a particular state at a particular place is very important. Because for me, to settle down in one place is very, very important, as I got married and I wanted to settle down at one place, and finding projects in the specific place is very important, in a specific city. So getting a GCEAD is one of the best things, because that helped me overcome all the problems that I mentioned on H-1B and advanced parole. It was a smooth ride, I’m telling you.
So I went to Europe recently, I went to Bahamas, I went to India, I went to other countries and everything, but getting advanced parole is so comfortable and convenient that I can just show my document and come back. I don’t even need to wait for any H-1B stamping. I don’t have to wait in lines for months to get H-1B stamping back in India right now. It is tough right now to get H-1B stamping in India. So getting an advanced parole made my life so much smoother. I can plan anything right now at any point of time, visiting the loved ones back in India whenever I want to. So that’s one of the best things about the advanced parole. I don’t need to worry about literally anything about visas and everything. And the only thing I would like to suggest for the future investors is choose a project that has a successful history. Choose a regional center that has a successful history. The only thing they have to choose in investing a project is whether it comes under a TEA, USCSIS-specific places that an EB-5 application will process or adjudicate in a timely manner. So I would say try to find some projects that are TEA compliant, like the Boynton Beach project or the Saltaire project, which has 10% … They are adjudicated faster because they are set-aside visas, like 10% set-aside visas for these TEA projects. So make sure that you choose a project which is TEA compliant. That’s the only thing, because that will make sure that your application is adjudicated in a faster pace, rather than going with all the others who are in the backlogged countries. That’s the only thing I would suggest.
