Real Estate International - Help needed

[robh]

Originally Posted by silver1

Ok one more time !! If we have Sterling or Euros, and we need Reals, we cant buy them,as the real is not currently offered as a trading currency like Swiss francs, US $ € or pounds, or Ran or Krona. So the ONLY currency it can be bought with is US $, which are excepted by the Centro Banco Brazil, as an incoming transfer, automaticly switched into Real, so any bank foreign transaction has to enter in Brazil US $. So instead of using our high street bank we use companies like HIFX, Currencies Direct etc, which offer better rates, & quicker transfers. I hope this is clear guys. Just go to their website. hifx dot com

Hi Silver,

This isn't the first time I have heard it, but I am not convinced that it is correct.

I sent 800 € to my lawyers using the Barclays online banking system two weeks ago. My lawyer sent me a copy of the detailed credit slip that she received from her bank and it didn't mention anything about $US only €.

Regards,
Rob.

[silver1]

Originally Posted by robh

Hi Silver,

This isn't the first time I have heard it, but I am not convinced that it is correct.

I sent 800 € to my lawyers using the Barclays online banking system two weeks ago. My lawyer sent me a copy of the detailed credit slip that she received from her bank and it didn't mention anything about $US only €.

Regards,
Rob.

What can i say! Contact HIFX, they will guarantee to save you money, id say what happened is your bank just gave you a rate, like when i use my card somewhere else it shows the rate in Euros, no matter what i actualy used, like in New York my bill shows upon the statement as €. Anyway just give them a bizz and see if they can save you money, i saved €400 on €10.000 so it was worth it.

Thanks
B

[wolfgang]

Sounds like this is going to come as a suprise to many but i am purchasing land in both Natal and Fortaleza. When i send the funds to Brazil i actually send it direct from my current account here in the UK in £ STERLING!

[silver1]

Originally Posted by wolfgang

Guillermo,
Thank you for taking the time and trouble to post on this forum.
I have viewed your site with interest and would like to add a few FAQs of my own.
What projects has your company successfully completed previously?
If as you state ,you do not make much profit on the land and villas but instead the hotel,why even bother with the former and just build hotels instead?
Does your company have any connection with Beachfront Brazil?
Who will be constructing the villas and what have they built before?
What is the Creci license number?
Will you be offering a managed rental income programme and how will you achieve the rates projected on your site?
Has the development been registered yet in the "registro do incorpocacao"
Do you offer an escrow facility to help safeguard investors funds?
Are deposits refundable if buyers do not wish to proceed after a site visit,
Look forward to receiving your reply,
W.

Can you answer the same questions for us please? I am curious now, you have many postings on this site, what are you exactly doing in Brazil? Now you say your purchasing land in Natal and Fortaleza. Can you send us details of what your projects are? and whats your Creci Licence number? I mean for someone with so many postings can we see what projects your doing in Brazil? You seem very much in the know so you must be doing some business out there. Any internet sites we can all look at?

[G_Estevez]

Dear Wolfgang,

Answer to your questions:

What projects has your company successfully completed previously?

Realest International is a newly formed company, the owners and top management have a combined knowledge of the real estate industry. For example The Project Director has over 18 yrs experience in Development, design and construction, with the last 3 yrs in the USA and Germany, The Sales and Marketing manager has finished and delivered a large project in Cyprus. Our Experienced Management comprises of sales, construction, design and engineering background as well as development, specific completed projects worldwide can be forwarded if needed.


If as you state ,you do not make much profit on the land

Obviously we do make some profit, but we decided to be very reasonable price wise and not have over priced product. There are 2 ways to do good business we feel, make a small profit from many clients over many years, or make a large profit from a few clients over a short time. We feel the long term is a much better option. Come on, use your head, Wolfgang, you’re a smart guy. Business is all about making a living, having a good name, delivering a good product and keeping your clients happy. Our prices are $42.00 per m2, competition is currently at $55+m2 so we offer good value, our plot sizes are 450m2. Are all your questions designed to try to trip us up, and expose us as something, Wolfgang? There is a very condescending tone here for some reason...


Does your company have any connection with Beachfront Brazil?

Connection? Can you be more specific? Partners? Friends? Tennis partner? In fact I know this company well, we share the same corporate lawyer by coincidence, is this a problem somehow for you and clients? But has this question any relevance?? With over 1500 deals done in this part of Brazil by Beachfront Brazil there are not many developers who don’t know this company. Is there any reason you asked this? Don’t see the connection, Wolfgang.


Who will be constructing the villas and what have they built for?

Once designs have been approved, several local construction companies which have a proven track record each company will be given the chance by bidding for the contract. The same as Europe, Wolfgang. 2 Project managers will be provided by us to check all work on our behalf is carried out to our specs. Prices are to be confirmed but 110m2 2bedroom 2 bathroom will be available for well under €100.000. Depends on which house design so TBC.


What is the Creci license number?

Good question, Ok for those reading I will explain, this is a real Estate Licence that agents selling and touring in Brazil have to take, I personally don’t have one, as I am not touring clients in Brazil. Any of our representatives who are “Touring clients” do have his Real Estate licence. Of course its illegal not to have this. Do you want all these numbers of all our reps, Wolfgang??


Will you be offering a managed rental income programme and how will you achieve the rates projected on your site?

YES. Currently we are negotiating with several large tour operators in the UK, and Europe. This will be achieved through marketing in Europe and direct marketing in the USA again through large tour operators. IE. Charter flights with tourists on a 2 weeks vacation. Or as Thailand has proved, direct marketing to a certain type of cliental. Exact details of our plans are currently under wraps due to discloser issues. I’m sure you understand about keeping our exact strategy confidential to protect our marketing and ultimately our clients.


Has the development been registered yet in the "registro do incorpocacao"

As far as I know yes, but our lawyers will be able to confirm you so. You could email her if you really need to know, I guess...

Do you offer an escrow facility to help safeguard investors funds?

The bulk of the funds is transferred to Brazil apart from the reservation fee, and the infrastructure funds, the infrastructure plans are due to start in April. Exact amount depends on each deal. So safe guarding is not really huge issue here, Roughly a deal of $19,000 for example, $15,000 is wired to Brazil so we hold $4.000 for infrastructure. Not a huge amount to really warrant an escrow for the client don’t you think? $4000, €3000, or 2000 Sterling.

Are deposits refundable if buyers do not wish to proceed after a site visit,

YES ! 100%. Any client who says they don’t like the land we will refund 100% of any reservation without hesitation, this is our policy! All day, everyday, 7 days a week, 365 days a year! If they don’t like it, they get a refund!



Come on Wolfgang, these questions are designed to trip us up, an attempt to maybe expose us, there is nothing to expose, we are not hiding anything, Why don’t you answer me the same questions, What’s your background? What have you completed? Who’s involved in your company? Do you have links to Beachfront Brazil¿? Bad blood maybe? Who knows…

Wolfgang, I have answered many questions now between my postings. If you have any legal questions, please contact our legal representative in Brazil or alternatevely contact us directly on info at relaestinternational dot com.

Thank you and Kind Regards,

Guillermo Estévez

[robh]

Originally Posted by silver1

What can i say! Contact HIFX, they will guarantee to save you money, id say what happened is your bank just gave you a rate, like when i use my card somewhere else it shows the rate in Euros, no matter what i actualy used, like in New York my bill shows upon the statement as €. Anyway just give them a bizz and see if they can save you money, i saved €400 on €10.000 so it was worth it.

Thanks
B

Silver,

How much are you paying on 10k EUR?

I pay £40 to transfer any amount of EUR to Brazil, then the Banco Centro hits me with their exchange fee which varies, but still doesn't add up to anywhere near 4%.

Regards,
Rob.

[RalphJ]

Originally Posted by silver1

Ok one more time !! If we have Sterling or Euros, and we need Reals, we cant buy them,as the real is not currently offered as a trading currency like Swiss francs, US $ € or pounds, or Ran or Krona. So the ONLY currency it can be bought with is US $, which are excepted by the Centro Banco Brazil, as an incoming transfer, automaticly switched into Real, so any bank foreign transaction has to enter in Brazil US $. So instead of using our high street bank we use companies like HIFX, Currencies Direct etc, which offer better rates, & quicker transfers. I hope this is clear guys. Just go to their website. hifx dot com

What you obviously don't understand silver is that Brazil accepts ALL currencies throughout the world! One does not have to send reais to brazil!! One can send american dollars, canadian dollars, euro's, pounds sterling, yen, etc.

Some banks here in Brazil do NOT have "cambios", or exchanges, but many do. In the case where the recipient bank does have a cambio one uses the swift code for the recipient bank....also, and this is very important, confirm that this bank accepts all currencies. In case they don't, one can use banco do brasil as an intermediary bank, as they DO accept ALL currencies and acts on behalf of banco central. In the case where a bank does not have an exchange, such as numerous smaller state banks, Caixa Economica (A federal gov't. bank that just got a "cambio" a year or so ago but ONLY accepts U.S. dollars), etc. These funds can be sent to these banks via Banco do Brasil. One must use the receiving details for the recipient bank, such as account number, agency or branch number, physical address for branch, BUT, the swift code for the banco do brasil in their city or region that does have a cambio!! WARNING: This is very difficult for many wire depts. in european banks and american banks to understand and the process must be explained thorougly to your branch and your branch then must explain this process to their wire dept. If this does not take place, in many instances, the sending bank's wire dept. will return the transfer to the branch thinking they were given incorrect information since they received details for one bank and the swift code for another. Banco do Brasil then acts as an intermediary bank once the funds arrive in Brazil. If the funds are over 10,000 reais then the recipient must physically go to BDB and justify the funds, ie. contrato social (corporate papers) showing your business is making a foreign investment and the sender, a partner in the business, must have an RDE (not RNE) number which has been previously acquired from banco central, and your corporate papers must have a monetary value of total investment larger than what has previously been sent and that the current transfer will NOT exceed, this is achieved by periodically going to junta comercial and ammeding the value on your corporate papers. This is for those sending to their own brazilian business and investing via it.

Or, liquidating via "contrato de promessa de compra e venda" (contract of promise of buy and sell) or "contrato de compra e venda".( contract of buy and sell) for those that are investing directly with the builder, development company, or agent in Brazil.


The fees that are charged here in Brazil are 1% of the total value of the transfer up to 10,000 U.S. dollars, which means one can have a maximum fee charged depending on the value of the transfer up to 100 U.S. Besides of what the sender has paid in his branch (sending bank), and at times can be a charge from the intermediary bank in Europe (london), or the U.S. (new york) and vary from 25-35 dollars or 25-50 GBP.


This baloney of buying a currency different than the one you have initially to send to brazil is completely and 100% unnecessary!

[RalphJ]

Originally Posted by G_Estevez

Regarding your last comments about Brazilian reals, we have fixed this Currency to our clients. We, as Developers, might loose on the exchange rate but we are keeping our clients happy. Once HiFX starts operating in Reals we will be trading in the Brazilian Currency.

Guillermo, all the best on your projects and developments here in Brazil. But fixing a rate for euro's or GBP or any other foreign currency against the real is VERY risky. If a developer would've done that 3 years ago I don't see how he (the developer) wouldn't have LOST money on the project as a whole unless they had margins larger than 100%! As the GBP went as high as 5.8 reais to 1, the dollar was 3.6 reais to 1, the euro was 4 reais to 1. And naturally we all know the values of these currencies today. Although I personally don't believe that the dollar, euro, and GBP will get any weaker, I said that when the pound was 4 to 1. Surprising a company would be willing to take that risk.


Once again, best of luck to you and all your endeavors.

[ady1231]

Dear All;

I would like to thank everybody who took part in this rather complicated issue, I started this by asking about unknown coconut grove back then, and now everybody knows it!

I would like to apologize for anybody who gut offended by any of my comments, it wasn't personal!

I hope that this was benefitial for all of us, investors and agents!

Thanks everybody

Cheers
Andy

[silver1]

Originally Posted by ady1231

Dear All;

I would like to thank everybody who took part in this rather complicated issue, I started this by asking about unknown coconut grove back then, and now everybody knows it!

I would like to apologize for anybody who gut offended by any of my comments, it wasn't personal!

I hope that this was benefitial for all of us, investors and agents!

Thanks everybody

Cheers
Andy

Yeah you started all this !!! hahahh! But interesting stuff. This just exploded from 9 entries to now 100 in 5 days! I claim the 100 entry!!

y