The Ultimate Real Estate Perk

What must be the ultimate builder/developer incentive was in the business section of the Miami Herald yesterday.  If you are an approved foreign buyer and purchase one of Lake Buena Vista Village Resort and Spa’s planned million dollar suites you qualify for a conditional two year visa from the US government.  The Resort has qualified as one of only 35 regional centers approved by the feds for foreign investment, dubbed an EB-5 visa.  The visa can become a permanent “green card” if once built, the Resort actually fulfils the requirement to create 10 new jobs. 

Although there are no firm contracts for these future units, the hotel is actually up and running and the developer, Sam Sutton is optimistic.  He opines that investors would have cash flow from day one, and with rental occupancy for 2008 coming in at 61%, Sam’s has the track record in this market to make such predictions.  A new home in the US just minutes from Disney World, with built-in income stream, help for the struggling development industry and creating jobs that make the Obama administration smile?  Maybe there is hope for this turnaround after all!

By: Sandy Carrier, Vice President – Real Estate Division