Colina Do Cedro

[Yogi]

A friend of mine is looking at purchasing some property in Brazil.

He is interested in the Colina Do Cedro development. It is been marketed by ready 2 invest (R2I) whom he is dealing with.

I have had no dealings with R2I before nor any dealings in the Brazilian property market.

Has anyone had dealings with R2I? or can anyone offer any general tips about buying property in Brazil?

The Colina Do Cedro development certainly looks cheap but is it a good deal?

He has NOT parted with any money yet.

Any help/advise would be appreciated.

[JMBroad]

There are numerous tips on buying in Brazil in the two threads dedicated to that subject. If you have the time, the patience and the stamina to read through it you'll probably have a very good idea of what is the reality on the ground. Or you may come away feeling even more confused as opinions are quite varied on the right course to take.

The two threads are:
http://www.propertycommunity.com/forum/brazi...ps-brazil.html
http://www.propertycommunity.com/forum/brazi...ng-brazil.html

General consensus that everyone agrees on (i think):

Never pay money to anyone except your own lawyers or unless you have undeniable proof that the money is being sent to Brazil in your name and registered with the central bank of Brasil as coming from you.

Ideally you want to send a small reservation fee to your lawyers in Europe who will hold that money in escrow and check the legalities of the project. Once they are satisfied, you should have the payments sent to Brasil in your name (or just send them yourself) so that you can later apply for an investors visa and so that you can repatriate the funds at a later date.

The reason I say use a lawyer in your own country (or in Europe if you are European) is because if you send money to Brasil (even only 3000 €) then change your mind, it is a nightmare getting the money out of Brasil again. So before you send any money to Brasil, check the legalities. Then have all money sent in your name.

Use a lawyer who knows Brazilian law and who knows property law.

[JMBroad]

With regards to the development itself, I can't say - not been down to Santa Catarina myself yet, and having planned my next trip already I won't be seeing it this time either as I'm visiting areas around Fortaleza, Salvador and Natal.

[martin6677]

Originally Posted by Yogi

Has anyone had dealings with R2I?

Be careful. I was in one of the funds they were managing - they were fired from the running the fund by the trustee.

My fund and the other funds are in a distressed state. There were accounting "irregularities". There was a Jersey court ruling over the mess. Many funds have lost lots of money. Some have lost everything.

[jonathanlondres]

Originally Posted by Yogi

A friend of mine is looking at purchasing some property in Brazil.

He is interested in the Colina Do Cedro development. It is been marketed by ready 2 invest (R2I) whom he is dealing with.

I have had no dealings with R2I before nor any dealings in the Brazilian property market.

Has anyone had dealings with R2I? or can anyone offer any general tips about buying property in Brazil?

The Colina Do Cedro development certainly looks cheap but is it a good deal?

He has NOT parted with any money yet.

Any help/advise would be appreciated.

Hiya... I never hear about it and if you would like I can send some information in your personal email.

[Dotty]

Why does your friend not visit Brasil and see what is going on?It is far better to use companies in Brasil with solid reputations rather than ones that are questionable. Buying is so simple ,but the law system can make it complicated for a foreign investor , for those that say otherwise are telling porkies.[

You could once get a visa's investment permit with only investing $50,000(necessary to open a bank account in Brasil),but now you need to demonstate 2 yrs of active business to qualify. So for those that have bought in Brasil with hopes of renting out,unless you have somebody to pay your bills here it can be a pain in the .............QUOTE=Yogi;48647]A friend of mine is looking at purchasing some property in Brazil.

He is interested in the Colina Do Cedro development. It is been marketed by ready 2 invest (R2I) whom he is dealing with.

I have had no dealings with R2I before nor any dealings in the Brazilian property market.

Has anyone had dealings with R2I? or can anyone offer any general tips about buying property in Brazil?

The Colina Do Cedro development certainly looks cheap but is it a good deal?

He has NOT parted with any money yet.

Any help/advise would be appreciated.[/QUOTE]

[davehoskings]

Originally Posted by Dotty

Why does your friend not visit Brasil and see what is going on?It is far better to use companies in Brasil with solid reputations rather than ones that are questionable. Buying is so simple ,but the law system can make it complicated for a foreign investor , for those that say otherwise are telling porkies.

Dootty, instead of just making off the cuff statements which don't help anyone at all (remember this is a property forum where people go to get information about property and the process of buying property ) why don't you explain how buying property in Brazil is more complicated for a foreigner??

[Dotty]

I think there are several people that have spoken about the complications of buying in Brasil.Just some tips.

1) It is easy to purchase in Brasil.
2)It is easy to get a CPF card and costs about 5,00 reais.
3)It is difficult ,almost impossible to open a bank account unless you are married to a Brasilian national,have invested in an investment visa ,but that now means you have to demonstrate 2 yrs of active business or will lose that visa.

4)I buy ,have permanent residency and do not work in real estate ,so do not know the ins and outs,but there are people that do.

Hope that helps Davy.

Originally Posted by davehoskings

Dootty, instead of just making off the cuff statements which don't help anyone at all (remember this is a property forum where people go to get information about property and the process of buying property ) why don't you explain how buying property in Brazil is more complicated for a foreigner??

[davehoskings]

Originally Posted by Dotty

I think there are several people that have spoken about the complications of buying in Brasil.Just some tips.

1) It is easy to purchase in Brasil.
2)It is easy to get a CPF card and costs about 5,00 reais.
3)It is difficult ,almost impossible to open a bank account unless you are married to a Brasilian national,have invested in an investment visa ,but that now means you have to demonstrate 2 yrs of active business or will lose that visa.

4)I buy ,have permanent residency and do not work in real estate ,so do not know the ins and outs,but there are people that do.

Hope that helps Davy.

So what you are saying is that it is just as easy to buy as a foreigner as a resident, except that I can't get a bank account without first getting a visa (both of which I have), but before you said it was very difficult for a foreigner to buy in Brazil compared to a resident ..... which one is it???

[JMBroad]

Dotty my dear,

You've mentioned that the law changed and that now you have to to "demonstrate 2 yrs of active business or will lose that visa" on more than one occasion.

What are you talking about? Please enlighten us as to the new legislation which makes you "now" have to prove active business or better yet, enlighten us as to when you didn't have to do it.

I think maybe your "accountant" got that wrong again? It seems you have the best of intentions (except that case when you intentionally misled someone on the forums) but you do seem to be getting your information from incredibly unreliable sources.