By Ronan McMahon
There’s money to be made in real estate development along the north-east coast of Brazil. One of your fellow RETA members recognized this on our first scouting trip last year. On our most recent trip last month we visited the site and saw plans for his project called Sol Y Mar.
As we all know, there’s more to buying property than simply handing over the asking price–additional costs such as attorney fees, notary fees, and registration fees must be factored into the deal. When buying property overseas, things can get even more confusing…particularly if you’re not sure of what you should or should not be paying.
Last year I was joined by a small group of your fellow members for a scouting trip to Manta, Ecuador. This country has my attention because it offers some of the cheapest property values in the world today. For example, you can a buy high-end 1,000-square-foot condo on the beach for less than $100,000…or a comfortable mountain retreat for less than $50,000.
At close of business Wednesday these office units will be handed back to the developer who will sell them to his own clients. Find out more…
There is a chronic shortage of quality office space in Fortaleza, which I noted on my first trip to Brazil last year. Finally, I’ve found a deal where we can profit from this shortage.
The Seagate Village is the latest phase at Rancho Santana. Here, lots are available from $35,000 and $65,000 builds you a little casita-style beach house. That’s right–$100,000 buys you a lot and little beach house in this high-end luxury resort.
History tells us that savvy investors make and build fortunes on overpriced fear. Today, you need to be cautious. You need to add more boxes to your list and double check that they are ticked. When these boxes are ticked, you know you’re on to a real winner. Rancho Santana’s Seagate Condos ticks my boxes.
The right pre-construction condo deal gets me excited. I look for units with the prospect for capital appreciation and strong rental yields. Units that will work as short- or long-term rentals…units that will appeal to holiday makers, out of town executives, young professionals, or retirees.
If you have reserved one or more units here expect to get final pricing and instructions on how to proceed tomorrow (Wednesday). Pay attention to the instructions. We will have 15 days to wire a deposit (1% of the purchase price) and a further 45 days to close. We will lose our units if we miss the deadline.
“The unprecedented transfer of wealth roughly from West to East now under way will continue for the foreseeable future…”