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Business Real Estate Off Plan property Finance Brazil
| Off Plan property Finance Brazil |
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| Written by Thomas Katzovitz |
| Wednesday, 01 October 2008 10:19 |
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Traveling in Brazil I discovered how to get an mortgage in Brazil and how to obtain 100% off plan finance for non residents This is a Totaly new way of buying property abroad I cant find a system like this in any other country, it means no large depsoits needed. I could not afford a large depsosit of 40% but I could afford monthly payments to get me to the 40% needed, I flew to fortaleza to Inspect the site.and met with some local brokers who arranged the whole thing The brokers showed me a way of buying which is paying monthly over the build period which will take the amount paid to 30% when the property is ready. What a fantastic way to get into Brazilian real estate I paid a $2000 arrangement fee which included all my legals and CPF number; my monthly payments are $1200. When the property is constructed I will be given the keys and I can still finance the balance up to 16 years, but will more than likely pay off the balance over 5 years. 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 My particular formula is to look at Location Location Location and if it will rent out,if so then the deal flys for 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 Fortaleza should be one of the Host cities for the 214 world cup one of the FIFA requirements is a metro train link for public transport or Tube this will be one of only a few in Brazil, When buying investment property in Emerging markets one should think of why you are buying. Is it for a holiday home or to make money or both, you only making your money when you sell? 20% growth in property prices in Brazil are predicted for the next 10 years I only buy in Countries with solid internal markets to speak to the 100% finance brokers contact www.brazillandconsult.com About the Author: If you want to buy in Brazil and dont want to put huge deposits then contacthttp://tinyurl.com/4xtv54brazil mortgage Before you buy in brazil talk to the experts we will save you moneyhttp://tinyurl.com/4xtv54brazil mortgage This and other unique content 'brazil property' articles are available with free reprint rights. Kindly provided by MoneyHunter.org You are welcome to use this article on your own website, if you include the link just before this text. |
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