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Finance property in Brazil
On a recent trip to Brazil I came across an interesting way to obtain a Brazil mortgage, this is for non residents actually a 100% off plan Finance model.
I dont belive that you can buy property in this method anywhere in the world I have not seen it in other emerging market
I was looking to invest in Brazil property but did not want to make a huge down payment of around 40% so I bought a ticket and flew to Fortaleza and hooked up with some local brokers
The local agent introduced to me a payment plan that alows me to pay the 30% over 2-3 years as they build the property, this is a much better way to gear your saving to buy in Brazil
I paid a $2000 arrangement fee which included all my legals and CPF number; my monthly payments are $1200.
When the builder hands over the property I will have paid 30% but I can then use the apartment or rent it out I have the option to pay the ballance in up to 16 years if need be
I will have the option to Sell rent or use the property myself If i rent this will give me an income to pay off the Mortgage in I will also get capitol growth
I look for properties that will have a high demand for rentals always remember the first rule of property location location, prices come second to me.
I settled on Fortaleza as my city in Brazil as regular flights from Europe TAP have 66 flights a week arriving from Portugal, In December Delta will fly direct from Atlanta.
I watched them work on the new golf coarse in Fortaleza which is nearly completed it will open early 09
There is a new shopping center and 8 new 5 star Hotels underway in the same beach location as the golf coarse
Soccers world cup is being held in Brazil in 214 one of the FIFA rules is that a host citys needs a Metro system Fortaleza is currently building a new public transport system.
Think about who will buy your property when you sell make sure to buy in an area where you will be able to sell to a local person not just a tourist
I look at countries that have a very good internal market, that's why I chose Brazil They predict that the local market is so good property prices will increase by 20% for the next 10 years
to speak to the 100% finance brokers contact www.brazillandconsult.com
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