Real Estate International - Help needed

[ady1231]

Originally Posted by JMBroad

Ralph is an American I think, which might be why he's never heard of HiFx - not sure how big they are over there, but doubt they are as well known as in Europe.

Hey;

Regardless if he is an American or Peurto Rican, read his previous posts, he was grilling they guy because he wanted to send his Money through HiFx, without taking notes of who they actually are!

He is just here to criticize everybody, again guys, we are here to HELP EACHOTHER!

Btw i have reserved a plot in coconut grove

[ady1231]

Originally Posted by michaelbush

HIFX is the UK biggest International Currency Exchange Company. My funds are being sent through HIFX with my name and a private Purchase Contract attached to the wire transfer so the lawyer can show exactly what the funds are for. So this keeps the Banco Central Brazil happy

What currency does HIFX send - they cannot send reais, as it is not a tradeable currency, so they cannot fix a rate for you in advance of your money arriving in Brasil. It therefore does not seem to me that there is an advantage to use HIFX, as they cannot influence what rate the central ban of Brasil will give.

Michael;

It's clear that you guys never bought anything, at the end of the day you are sellers, not Buyers.

HiFx is big exchange rate firm, 70% of brits who buy abroad use them. The reason for that being the better exchange rate they give you, compared to your Bank.

As for the reias, yes they do, once you are sure you want to buy, they will tell you how much do you want, and the current rate, if you are happy, they will reserve it(Buy it) for you, and you have 5 days to send the money for them, and they transfer it.

Reias not a tradeble currency! you lost it again mate what do you mean? every currency is traded in world markets WITH NO EXCEPTION, you can buy anything from Brazilian Reias To Maldivian Rufia!

Cheers

[robh]

Originally Posted by ady1231

Michael;

It's clear that you guys never bought anything, at the end of the day you are sellers, not Buyers.

HiFx is big exchange rate firm, 70% of brits who buy abroad use them. The reason for that being the better exchange rate they give you, compared to your Bank.

As for the reias, yes they do, once you are sure you want to buy, they will tell you how much do you want, and the current rate, if you are happy, they will reserve it(Buy it) for you, and you have 5 days to send the money for them, and they transfer it.

Reias not a tradeble currency! you lost it again mate what do you mean? every currency is traded in world markets WITH NO EXCEPTION, you can buy anything from Brazilian Reias To Maldivian Rufia!

Cheers

ady1231,

You are right about Reals being a tradable currency, they are, and you can buy them on the open market without problem, but you can't use them to buy your property.

The problem is that a property purchase needs to be registered with the Banco Centro, which means going through the Banco Centro, and they will only accept transfers in currencies other than Reals, probably only the majors at that.

I just got off the phone with HIFX as I want to offer their services to our clients but they do not deal with Brazilian Reals yet!

Regards,
Rob.

[JMBroad]

Originally Posted by ady1231

As for the reias, yes they do, once you are sure you want to buy, they will tell you how much do you want, and the current rate, if you are happy, they will reserve it(Buy it) for you, and you have 5 days to send the money for them, and they transfer it.

Reias not a tradeble currency! you lost it again mate what do you mean? every currency is traded in world markets WITH NO EXCEPTION, you can buy anything from Brazilian Reias To Maldivian Rufia!

Cheers

As Robh says, (and as Michaelbush, and Ralphj have been trying to say) be wary - if you are buying Reais then how is your money registered as entering the country via the Banco Central?

I think the reference to Brazilian Reais not a tradable currency is because I still don't know of a company who will fix the rate for Reais in advance. Not surprising seeing as the Real is consistently gaining strength. If you find a company who does, let me know, so far none that I have contacted has said they do, but maybe I haven't spoken to all of them.

[michaelbush]

Sure - Go ahead then and buy your reais in advance- send them to Brasil and see what happens when you want to repatriate your capital and hopefully a profit! I had exactly that problem because yes, I have bought and have this problem now to register the transfer through Intertransfer with the Central Bank of Brasil. Incidentally the Policia Federal / Receita Federal investigate transfers received that way, and as well, because it is illegal, due to strict money laundering rules here. In the same way that deposits over a relatively small amount in the UK are reported to the Inland Revenue, the same happens here in Brasil. My accountant has been working to help me in this and I believe he has been successful. But of course, I really know nothing! Perhaps everyone should take the advice of people buying unseen, and believing everything they are told without checking with their own independent lawyer.

[RalphJ]

Originally Posted by ady1231

Ralph;

To but things straight here, maybe you shouldn't be selling in Brazil, after all, i never heared anything positive from you, and btw do u recommend turtle bay because you sell it? Never heared of HiFx, well you lost it there mate sorry!

No, sorry for you ady, and where did you ever come up with the fact that I sell turtle bay? Where did you pull that information out of? Take a look at my sites, they show exactly what I'm selling, our projects as well as the properties we're reselling, and turtle bay, or any property outside of Aracaju, Sergipe, is simply not being offered or recommended by us. As robh even posted here, HiFx may be an excellent company, and very well may send your money with your name being registered with banco central...and then again, you run a completely unnecessary risk of it not be!! And now we have Michael confirming they don't even work with brazilian reais!!!! Sorry, you lost there...."mate".

And then what?

It's a completely unnecessary step that you are taking! Why not send it yourself, from your own bank account, to the developer?? Then you're money is undoubtedly registered with banco central. Then you qualify for an investors visa, then you are able to sell your property and send the funds out of brazil as there is record of you sending your funds to brazil.

I lost out by not hearing of HiFx??? How is that? Are they going to buy properties from me or invest in my projects? Why would I recommed a client to send his money to brazil via any means but than from himself?

From the beginning I have always told potential investors to send their investment funds directly to Brazil from their bank accounts! They can even open up a brazilian company and send it there investing via it.

And who is "you guys" that have never bought anything here??? That's news to me and my partners, as well as Banco Central that we haven't bought anything here. We've only sent in the neighborhood of 4 million reais of our own money to Brazil over the last 3.5 years!


BOL to ya

[robh]

Silver,

Just to put the record straight regarding what I am saying.

You will have no problems with the Banco Centro accepting your payment if it comes from HIFX's trust account. We have done many of these transactions from lawyer's trust account without problems as the money is sent in the buyer's name, which will be the same when using HIFX.

The only part I question is why do you need to use HIFX at all since they cannot get you a better BRL rate or save you any money on transfer fees. There is NO difference doing the transaction yourself.

There may well be a rational reason why the developer is using HIFX, but I don't know what it is, so if I was buying I would ask that question of the developer.

Regards,
Rob.

[michaelbush]

The only companies who will send reais as far as I know, are exchange houses- like Intertransfer in London (Brazilian owned), and you will get a really good rate, like 5% above the quoted mid market rate. They quote 3.50R$ =1£ today when the mid market rate is 3.458R$= 1£, and probably there will some 5% less through the bank here in Brasil. Very attractive if you are sending a lot of money. Many of these exchange houses are under investigation for money laundering. Apparently the way they do it is to get a number of small amounts sent to the account here by individuals in Brasil, no doubt they can then get GPB's in the UK. Many countries do not have their currencies traded on the markets, and have rules on how much can leave the country as well. It has nothing to do with the strength of the currency at all.
We may not like all these controls, but until they change the system we have to stay within the law as it exists today.

[River_42]

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[G_Estevez]

Dear Forum Writers and Readers,

First of all I would like to thank you all for taking your time to put your comments into this Forum and dedicating some time to “Coconut Grove Brazil”.

My name is Guillermo Estévez, one of the senior partners of this Development and RealEst International, in this case Coconut Grove, Brazil.

I have received this afternoon an email from a client asking us to go into this forum and to explain a few misunderstandings to keep the record straight and correct. “Rumours” “Guesses” and “what ifs” can be detrimental to Brazil for budding buyers weather it is from our project or from any other project. We are very concerned about keeping the name Brazil away from any bad press, it’s better for people to know what the truth is about Brazil. Brazil is a fantastic place, with a superb climate and warm friendly people.

I have read all your comments and I appreciate your interest. I have to thank those of you who keep a positive attitude on Coconut Grove and for those of you who remain sceptical I would like to clarify a few points:

Coconut Grove is located 126km northwest of the city Fortaleza in the State of Ceara, in a small fishing called Flecheiras. Surrounded by totally un-spoilt white sandy beaches. The project comprises of 337 fully licensed building plots of average sizes of 450m2 and a 120 room 5 Star Spa & Beauty Hotel with a commercial centre at the entrance of the Resort.

All necessary licenses have been issued and Coconut Grove is a totally legitimate project. If you wish, any person could get in contact with us and we will send you a full due diligences pack. This includes: Sub Division for 337 independent houses, The Semace Environmental Licence, just renewed in December 2007 for a further 12 months, planning permission from the local town hall and is 100% clear of any and all encumbrances which would stop any or all construction.

This entire piece of land of 320.000m2 which makes up Coconut Grove has not only been thoroughly inspected by a legal team, and has passed all legal scrutiny but it has been “Certified” by a highly respected Law Firm in Fortaleza, which is stated on the Certification Document exactly what has been checked.

A letter of recommendation was issued from Mr Bismark Pinheiro Maia who is Minister of Tourism for Ceara. Coconut Grove was presented to Mr Maia, and after the project was studied by Mr Maia this letter was issued.
Coconut Grove is as far as we know the only project in this part of Brazil that is a “Socially Changing Project.” Specifically, we are implementing a 3 year training program for local people and teenagers so they become skilled in different services areas. Doing this, we will be helping local people to change their lives for the better, enabling them to get jobs in various different areas such as Hospitality Industry, Construction, House Keeping, Gardening etc. These people are not only being employed during the construction period but long term with the Hotel and the management of the entire project. So any implications or hints at this letter being used as an intentional kind of scam or trick are simple unfounded, the real message here is : This letter was issued for the benefit of his fellow Brazilian people to secure their long term benefit with a skilled trade and guaranteeing them long term employment in their local area. We feel this is something we, as developers can give back to the community.

Mr Peter Hoggert said, “the land is extremely beautiful”. Yes, it really is as he described it, breathtaking. Again this is great feedback for us as the developer. We have nothing to hide and in the words of our Project Director:
“We’ll do the Pepsi Challenge with any one in Ceara on house designs and value for money” Meaning we are very confident about the project and the product we supply. We encourage any one interested in Coconut Grove to go and visit the site.

In terms of buying process you all seem very informed. We are here for a long term, we intend to form close ties with all our clients and to satisfy our Clients as much as possible. We have taken our time and legally studies to find the most effective way of buying property in Brazil, and currently we are happy with the buying process.

HiFX is one of the largest, if not the Largest, Currency Brokers companies in the UK and Europe. HiFX is done full diligences on us as Developers. They help clients in getting the best exchange rate at the time of their purchase and also help with money transaction sending the money, obviously, under the client’s name.

Infrastructure money is sent to the Developers account, these funds will be used to install infrastructure. Without roads, water and electricity it would be impossible for anyone to either build, or sell their plot. The Developer states on the contract that infrastructure will be supplied. Electricity, water, sewage, roads, communal areas… everything is on the contract.

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.

I hope this answers all questions and or doubts, we are always available for any questions, and we like to assure all our customers both present and future this fact, if you have any doubts or you need to ask a question, all you have to do is email us or call us and we will answer any questions.

I just want to thank you all again for your comments and interest in Coconut Grove. It is going to be amazing!
The houses designs are nearly finished, we feel they represent superb value for money and the designs are fantastic, we feel they put pressure on several other developers in this industry to provide their clients with better quality, better designs and better prices, but for this we will have to wait and see.

Please do not hesitate in contacting us if you have any further questions or queries and we look forward to developing a mutually and beneficially relationship with all of you.

Kind Regards,

Guillermo Estévez

RealEst International

www dot realestinternational dot com