Real Estate International - Help needed

[silver1]

Wow! Some interesting comments both good and bad. Ok so i have been in touch with Realest International this week several times, and i asked about this advertising "Fortaleza" and they said we use Fortaleza as a reference point because Flecheiras would not ring any bells with anyone, and they in fairness never said it was "IN" Fortaleza, i re-read all the info and its true they do say in everything "Over an hrs drive" so i think this comment about being "Economical" with the advertising is a bit unfair.

I have contacted the lawyer in Brazil who has certified Coconut Grove and done some back ground checks, she has a very good name there, top clients as far as can tell, not a single bad piece of internet info on this company, also i was told that Victoria Chaylord from a big law firm in London has checked out the Due Diligence for a client who is buying in Coconut Grove, so i might use her, but she is more expensive, $1000 for a Brazil lawyer or 1500 sterling for this UK based one, hmmmmmm big difference.
Also Realest have said the $1500 deposit is taken by HIFX who i know are a very good currency Company and when i called and spoke to HIFX i was told they have done very extensive background checks and they have very strict compliancy rules, and my $1500 can be refunded if anything bad comes up on the due diligence. Apparently they handle all the company transactions for us as clients, we send the money to Brazil and not to Realest International, well, we send the infrastructure money to RealEst.
This semace license, this has just been renewed in December 2007 for another 12 months and they has shown me copies of this environmental license, they said they have had this license every year since 1999. All the dub division is legal and registered since 1991, the master plan i mean. So i really feel it is all above board. I never get pushed for a deposit, they just happily answer any questions. Also i saw it advertised in this weeks "News Of the World" i never buy this paper but i picked it up at the pub today. Oh i also googled the Minister and yes its true, i checked the stamp on his letter, and i translated it myself with my neighbor and it is a good translation, accurate i mean, i saw his photo on line, Bismark something...

So i am going to reserve 2 plots this week, and i am excited, i have never been to Brazil, and am sick of Spain, and Italy. So i will keep the forum posted.

Thanks

[silver1]

thanks for the tips wolfgang, i think i am happy now to go ahead after doing a weeks research, life is about taking a risk every now and then, and with the internet it is very difficult to pull the wool over anyones eyes, especially since google earth etc is easily available, its so easy to actually see the area and land.
Strange you use Grimsby manchester and s****horpe as referances with a name like wolfgang?? Not a common name in northen England i believe?

anyway, are you buying or looking at coconut grove?

[silver1]

Originally Posted by michaelbush

Hi Bryan (Silver1)
Yes - you MUST visit before buying. The reality is different to the virtual reality you see on the internet! When you visit you can make your own mind up, without the hype. Brasil has many investor opportunities, but is no different to Spain! If you buy but can only sell on to another "mug punter" from Europe, you miss 99% or more, of the potential market. Just remember this small piece of advice- it is very easy to buy.................but to sell?.........How do you get your return. No different to anywhere else in the world for an investor.

Hmmmm, interesting, but land has always had value, i am not looking for a quick buck, more like a 15 yr deal, so selling is something i will think about when i need to, but buying into a resort with a hotel and really nice house designs is i think a key factor, i have looked at several other companies in Brazil, and i just felt " Boring, same old same old" and then i found coconut Grove, with these house designs they are offering i was really impressed, at last someone with some balls to do something differant, i have had some photos sent to me and they say this week i can see the floorplans and images.

[silver1]

Originally Posted by ady1231

Hi Silver;

Yes, i have just reserved one, but a bit nervous, as i have t choose which law firm to go with, did you get contacted by real est int?

Regarding the project, i think it's a nice one, and the prices are reasonable, it's not too close to Fortaleza (124km) but the location looks nice, i tried google earth, and yes i have seen the letter of recommendation from the ministry of Tourism in CE.

I might be going to sign the title deeds, tell me when do u plan to go?

Cheer

Is it nerves or excitment?? I kinda feel more excitment then nerves, i am going on the 24th or so of Febuary,i was told the Project Director will be there around that date and he will personally show me around! I am 90% going to use a Brazil lawyer, whats her name?? Margit fleeeche or something, did you contact her too? They sent me her details and she speaks fairly good english, i wish i was there this week! It is Carnival in Brazil this week! The wife wouldnt let me go! HA!

[wolfgang]

Silver1,
Seems you have progressed most aspects correctly here.The only flaw is reserving site unseen.Most real estate companies transform into Mr Hyde at the mention of the word "refund"!
It sounds a very promising development on paper and i will be interested in your observations upon your return.There still appears to be a major shortage of info relating to the company themselves - who are the "names" behind the venture,how long has the company been in existence and what have they done previously for example?
In answer to your question, my interest in Coconut Grove lies principally in a desire to keep my finger firmly on the pulse.Personally,i always have a strong preference to purchase far closer to an International airport.Two hours imho is just too far away.Having visited the area on a number of occasions i would have to be frank and say that i believe that the smart money is gravitating South of Fortaleza and down towards Canoa.This is where the road network is being improved,up market resorts,schools,yacht clubs etc are being established.
All the best,
W.

[ady1231]

Originally Posted by silver1

Is it nerves or excitment?? I kinda feel more excitment then nerves, i am going on the 24th or so of Febuary,i was told the Project Director will be there around that date and he will personally show me around! I am 90% going to use a Brazil lawyer, whats her name?? Margit fleeeche or something, did you contact her too? They sent me her details and she speaks fairly good english, i wish i was there this week! It is Carnival in Brazil this week! The wife wouldnt let me go! HA!

Hey congrats,

so i am not the only one, as u said, i have done the research, and found out that it represents a good value for money, as for the criticizm, these guys are sellers, so they criticize everything that they are not selling, which i feel bad about, this forum is about buyers who need help, and a reasonable opinion.

Which plots are you buyin? i have bought 03-5, and i spoke to margret, their law firm is well known, and i wastold by them, that i could use my own lawyer, but when i saw all the dd done with the letters, i decided to go with their law firm.

I am excited to be honest, i never invested outside europe, so it should be fun, write private msg to me so that we can keep in touch.

I saw turtle bay development, and the cheapest there was for 15300 pounds, so i think we got a good deal.

Cheers

[wolfgang]

Try not to confuse advice urging caution with criticism.
Irrespective of your opinion regarding the motives of those making constructive comments, few would advocate either purchasing land without first viewing it,or using the solicitor recommended by the developer.Casting caution to the wind is very unwise.There is a quantum difference between being a brave entreprenuer and plain foolish.

[ady1231]

Originally Posted by wolfgang

Try not to confuse advice urging caution with criticism.
Irrespective of your opinion regarding the motives of those making constructive comments, few would advocate either purchasing land without first viewing it,or using the solicitor recommended by the developer.Casting caution to the wind is very unwise.There is a quantum difference between being a brave entreprenuer and plain foolish.

wolfgang, i will have to agree with you on this one

i am looking for a new land south of Fortaleza, where do u recommend me looking?

[silver1]

Originally Posted by RalphJ

Funny, the infamous Keifer Robins used to use a "letter" of recommendation from the secretary of tourism as well in his scams. A letter from any politician "recommending" any project is really a mute point. It has nothing to do with the approval process whatsoever and in many cases is simply used in an attempt to gain confidence.

Who is this Keifer Robins? I mean, when do we draw the line, we can all ask, "oh yes, they say there is Air all around us but can we really believe there is because i cant see it!! " If any naughty or forged docs were in place it would these days with the internet, be a few hours to have this come out!

So i cant see anyone being that stupid to forge a document from a minister of the Government, i think good luck, they have done the right thing i feel, no one else has this on their project as far as i know so, they must have done something right! Plus it is really well written if you read it in Portuguese, anyway, I asked about this point, and basically their answer was:
"The project was presented to the office of The Minister Of Tourism in the fall of 2007, who after reviewing the project and plans, was very enthusiastic because of the new opportunities it will create for this area, North of Fortaleza not been growing as much as south of Fortaleza, so a project of this size, mixed with the way the developer is involving the entire 3 local villages and community has infused the local Government, because it will give a huge lifestyle improvement to the local people."

Now i sound like they have brainwashed me!!! I am in the retail business and i believe it is all about service, quality, value for money and keeping a good name so i feel good about my decision to buy. Is it me reasuring myself?? Maybe but i have spent a week on this now, and i have been very thorough i think. So i am comfortable.

[wolfgang]

Ady,
I would be reluctant to make specific recommendations until i knew exactly what someone's objectives were.
However,as a general guideline i would suggest you confine your searching procedures to within an hour of an International airport and that your plot should overlook water either the Atlantic or a nice picturesque lagoon close to the sea.You will see more locals swimming in these than the sea incidentally. So if you are seeking to procure land in and around Fortaleza, basically somewhere between Aquiraz and Fortim to the SOUTH of the city.There is not much happening to the North.Land is much cheaper and when you visit yourself you will see why.
Bear in mind that even second line beach should be significantly cheaper than first line-often half the price and sometimes just a few hundred yards further back.
Anything over an hour from an airport and you really should pay significantly less.

Also bear in mind that ad hoc,non serviced land plots with simple urban zoning (which some developers classify as planning permission!) will cost a great deal less than an equivalent size in a gated community Resort complex with a wide range of sport and leisure facilities with full permission and building licences in place.I actually liked Turtle Bay.A tad expensive and had it been in Natal,i would have been severely tempted myself.

If after your field visit you prefer Natal,the above will also be relevant ie.within an hour North or South of the NEW airport site -so basically from Touros down almost as far as Pipa.Whilst the South is more developed,imho there is more potential in the North though you must be prepared to take a long term view.