VTKilarney
Well-known member
Jay peak has put their latest EB-5 project "on hold" for six months, which happens to be during the construction season.
http://www.wcax.com/story/25167761/jay-peak-eb-5-update
What do people think? Is it merely a "marketing" and permitting delay, or is there more trouble brewing?
While I have not been able to confirm this statement, in another forum (at britishexpats.com), a person who claims that they were a Phase 1 investor in 2007 has said that it will take 15 years to recoup their money. Several years of no payments, 9 years of payments in the amount of $21,500 and then a final balloon payment in the amount of $306,500. They claim that they will not receive anything other than their investment back. If this is true, what are the odds that Jay will be able to afford these balloon payments? The investor was initially led to believe that they would receive their money back in 5-7 years.
In the same forum, a Phase 2 investor says that an "exit strategy" has been "defined", but they have yet to be given a specific timeframe.
I understand the risk of EB-5 investing, but I'm more interested in what's going on at Jay Peak - and also at Burke. I'm curious to hear thoughts about this delay and the state of EB-5 at Jay/Burke in general.
http://www.wcax.com/story/25167761/jay-peak-eb-5-update
What do people think? Is it merely a "marketing" and permitting delay, or is there more trouble brewing?
While I have not been able to confirm this statement, in another forum (at britishexpats.com), a person who claims that they were a Phase 1 investor in 2007 has said that it will take 15 years to recoup their money. Several years of no payments, 9 years of payments in the amount of $21,500 and then a final balloon payment in the amount of $306,500. They claim that they will not receive anything other than their investment back. If this is true, what are the odds that Jay will be able to afford these balloon payments? The investor was initially led to believe that they would receive their money back in 5-7 years.
In the same forum, a Phase 2 investor says that an "exit strategy" has been "defined", but they have yet to be given a specific timeframe.
I understand the risk of EB-5 investing, but I'm more interested in what's going on at Jay Peak - and also at Burke. I'm curious to hear thoughts about this delay and the state of EB-5 at Jay/Burke in general.