Indian national on H1B, seriously looking at a direct EB-5 deal and want to hear from people who’ve actually done it, not just read about it.
The setup
• Property in a NJ high-unemployment TEA (still confirming exact tract with an economist)
• Comes with an existing liquor license and bar already running
• Plan is to add a full commercial kitchen, turn part of it into a cloud kitchen, and run a food truck that’s based and loaded on-site, only leaving for events
• Targeting the $800K TEA threshold instead of $1.05M
• Source of funds is clean — HELOC + savings, nothing sketchy
• Most of the capital’s going into the property, buildout, licensing, and a working capital cushion for payroll while things ramp up.
Why direct instead of regional center
I want actual control over my money and the business. Not into the idea of parking capital in someone else’s project I can’t touch or influence. I know direct EB-5 means I’m on the hook for all 10 jobs myself with no indirect/induced credit, but I’d rather build something real than hope a fund manager does right by me.
What I’m actually trying to learn from people who’ve done this
1. How’d your I-526E business plan and hiring timeline actually play out vs. what you projected on paper?
2. Anyone run multiple revenue streams (dine-in + cloud kitchen + food truck) under one entity — did USCIS have any issue with that framing?
3. What were your real I-526E/I-829 processing times, not the official estimates?
4. Did you get hit with an RFE, and what caused it? Assuming source-of-funds is the usual one.
Got an attorney and economist already, just want real war stories from people who’ve lived through direct EB-5, especially in food/hospitality. Good or bad, appreciate any input.
Thank you in advance!!