Seeking Advice: Buy/Invest in Rio de Janeiro

[dhoskings]

John an average 3 bed (off plan NEW are now selling at 390,000 ).Now in relation to low pay in Brasil that's quite a hefty sum.You can purchase fab homes in the UK at rock bottom prices(lower than in the 1980's) for the same money and have excellent returns when the crisis eases.Speak to any foreigner who lives out here and there eyes are now on purchasing back in the UK!

You are very funny Dooty, why don't you show an example of a "fab home" that I can buy for R$390k (£122k) in the UK.

 

[JMBroad]

John an average 3 bed (off plan NEW are now selling at 390,000 ).Now in relation to low pay in Brasil that's quite a hefty sum.You can purchase fab homes in the UK at rock bottom prices(lower than in the 1980's) for the same money and have excellent returns when the crisis eases.Speak to any foreigner who lives out here and there eyes are now on purchasing back in the UK!

Dotty, we have more than one friend in common out here - last Friday I had dinner with several mutual friends of ours who live out here and not one of them showed any indication of wanting to purchase back in the UK - however I'll happily ask them over the weekend.

Off plan new where and what is selling for R$ 390.000 in Brazil? You are right - R$ 390.000 is a lot of money out here but I know of many developments in one of the best neighbourhoods of Natal where we both live which offers apartments for sale for under R$ 200.000. For around R$ 400.000 you are looking at some of the top end luxury developments in prime locations of Natal.

It all depends what you are looking to buy and where. Are you sure you can buy a "fab home" in "really nice places in the UK" for 124.000 GBP? Perhaps someone living in the UK could confirm this?

 

[DGM42]

Dotty, we have more than one friend in common out here - last Friday I had dinner with several mutual friends of ours who live out here and not one of them showed any indication of wanting to purchase back in the UK - however I'll happily ask them over the weekend.

Off plan new where and what is selling for R$ 390.000 in Brazil? You are right - R$ 390.000 is a lot of money out here but I know of many developments in one of the best neighbourhoods of Natal where we both live which offers apartments for sale for under R$ 200.000. For around R$ 400.000 you are looking at some of the top end luxury developments in prime locations of Natal.

It all depends what you are looking to buy and where. Are you sure you can buy a "fab home" in "really nice places in the UK" for 124.000 GBP? Perhaps someone living in the UK could confirm this?

Absolutley not in the London Area - definatley not a fab home.
You can buy a terrace house in a rough area of Liverpool, Sheffield, Newcastle for around £50,000 but watch your hubcaps on your car.

In the greater London area £160,000 will buy you a one bed flat or insome areas a small 2 bed terrace house with bathroom behind the kitchen.
A fab house as Dotty calls it is waht exactly.
A nice 3 bed House in a nice Greater London area will cost you minimum £280,000
4 bed around £325,000

You can go to the auctions in the UK but most of these need modernising so you end up paying an additional £30,000 on average .
In Central London you are looking far higher than this with flats around £250,000
Dotty I live in Greater London so know what is going on and Mortgages in the UK are very difficult to get despite what the press say, you need a 30% deposit to stand a chance of getting a mortgage.

 

[maclarke]

If you have aproperty in the UK and there is positive equity in it. FOr example the property is worth £200,000 and the mortgage is only £100,000 you can up your mortgage to say £175,000 as long as you can show to teh mortgage company you can afford the payments.]You can then use this money to buy a place in Brazil or as a deposit on a "buy to let" property in the UK with teh rest on a mortgage. The rental income would fund the mortgage and you should have some surplus rent.
This is how people in the UK funded there property empires. I know several people who have done this, but with the recession and falling house prices lenders are more wary.

I know one property company a one owner concern who has £15 million in property and owes around £5 million, he is having trouble in getting any funding in the UK to buy more property. It is difficult in the UK at the moment. But that is basically how it is done.

Thanks for that. This is the first explanation of this. Basically, i'm screwed trying to buy in Rio. I suppose the best way is to find a job out in Rio build my empire in country.

Its so frustrating. Thanks for your help!

 

[maclarke]

Absolutley not in the London Area - definatley not a fab home.
You can buy a terrace house in a rough area of Liverpool, Sheffield, Newcastle for around £50,000 but watch your hubcaps on your car.

In the greater London area £160,000 will buy you a one bed flat or insome areas a small 2 bed terrace house with bathroom behind the kitchen.
A fab house as Dotty calls it is waht exactly.
A nice 3 bed House in a nice Greater London area will cost you minimum £280,000
4 bed around £325,000

You can go to the auctions in the UK but most of these need modernising so you end up paying an additional £30,000 on average .
In Central London you are looking far higher than this with flats around £250,000
Dotty I live in Greater London so know what is going on and Mortgages in the UK are very difficult to get despite what the press say, you need a 30% deposit to stand a chance of getting a mortgage.

This is very true. I'm a first time buyer and I've found out that even if you buy a "cheap" property here in London (200K - if you can fnd it) the interest rates will kill you. I went through a mortgage broker and he offered me a 10% deposit off the mortgage value with a 7-8% interest rate

 

[JMBroad]

Thanks for that. This is the first explanation of this. Basically, i'm screwed trying to buy in Rio. I suppose the best way is to find a job out in Rio build my empire in country.

Its so frustrating. Thanks for your help!

You could always start slowly. Buy something within your budget and either rent it out or resell it (depends what you buy). Put the earnings into a separate bank account and only use it for property investments. Set a lower limit and only invest the surplus then slowly move the limit up as your earnings increase.

You can get some very reasonable properties in Brazil - for example a plot of land - just make sure that initially as you will be investing your "own money" and not your earnings you purchase something with as little risk as possible or perhaps even with a guarantee of ROI over a specific time frame. And when I say guarantee I mean contractually guaranteed, not a salesman pitch.

 

[Dotty]

Hi John,

Our common friends do indeed want to buy in the UK. We were only researching online (Wednesday)where to buy and locations in the uk(but that doesn't mean move). Prices have dropped drastically in the UK even in super areas.

I cannot think of one building in Natal where you can buy a flat with 3 b/r for 200,000.You can buy 54 meters for about 140,000 +.It may well be possible to buy in Parnamirim a 3 bed ,but even still the prices will fetch over 200,00 for a 3/bed...........

Have a good weekend and don't drink to much!

Dotty

QUOTE=JMBroad;103756]Dotty, we have more than one friend in common out here - last Friday I had dinner with several mutual friends of ours who live out here and not one of them showed any indication of wanting to purchase back in the UK - however I'll happily ask them over the weekend.

Off plan new where and what is selling for R$ 390.000 in Brazil? You are right - R$ 390.000 is a lot of money out here but I know of many developments in one of the best neighbourhoods of Natal where we both live which offers apartments for sale for under R$ 200.000. For around R$ 400.000 you are looking at some of the top end luxury developments in prime locations of Natal.

It all depends what you are looking to buy and where. Are you sure you can buy a "fab home" in "really nice places in the UK" for 124.000 GBP? Perhaps someone living in the UK could confirm this?[/QUOTE]

 

[JMBroad]

I very rarely do drink too much

Have a good weekend too. I'm meeting most of them this evening so I'll discreetly try and find out who is looking to buy in the Uk

Have a good weekend!

 

[dhoskings]

John an average 3 bed (off plan NEW are now selling at 390,000 ).Now in relation to low pay in Brasil that's quite a hefty sum.You can purchase fab homes in the UK at rock bottom prices(lower than in the 1980's) for the same money and have excellent returns when the crisis eases.Speak to any foreigner who lives out here and there eyes are now on purchasing back in the UK!

I am still waiting to see some examples of fab houses in the UK at R$390k??

Where did you get the **** that prices are lower than the 80's? a house that is worth £450k today was worth £100k in the 80's, so show some examples...

 

[Dotty]

Oh hi Dave!

Just in the process of selecting great properties in the UK at BARGAIN PRICES!!
Not quite sure how to post them to you though.Any tips(Q key out out) soQUOTE=dhoskings;103883]I am still waiting to see some examples of fab houses in the UK at R$390k??

Where did you get the **** that prices are lower than the 80's? a house that is worth £450k today was worth £100k in the 80's, so show some examples...[/QUOTE]

 

[dhoskings]

Always some excuse hey Dotty, try copy and paste

Oh hi Dave!

Just in the process of selecting great properties in the UK at BARGAIN PRICES!!
Not quite sure how to post them to you though.Any tips(Q key out out) soQUOTE=dhoskings;103883]I am still waiting to see some examples of fab houses in the UK at R$390k??

Where did you get the **** that prices are lower than the 80's? a house that is worth £450k today was worth £100k in the 80's, so show some examples...

[/QUOTE]

 

[Dotty]

What's that(k out!)

Always some excuse hey Dotty, try copy and paste

[/QUOTE]

 

[JMBroad]

Dotty, just give us an example which we can compare to Brazilian real estate, ie.

Where:
What: (size, bedrooms, floors)
How much:
When: How old, is rennovation needed, etc

 

[robh]

Oh hi Dave!

Just in the process of selecting great properties in the UK at BARGAIN PRICES!!
Not quite sure how to post them to you though.Any tips(Q key out out) so

Dotty,

I think you may have missed the boat on the real bargains in the UK, most of the really desperate sellers have sold at nearly any price, everyone else is hanging on, i.e. prices have stopped going down (the UK average fall in prices is 10%+). Even the developers who were really cash strapped have got through by offloading stock at cost price but they aren't doing that anymore as credit is becoming more available.

Regards,
Rob.

 

[Dotty]

Preference of size and style is personal,some prefer modern,old,rundown ready for a good makeover ,but in general bargains are to be had all over the UK.I am sure you know all the good homepages in the UK ,but looking at decent 2 bed flats etc in great locations in the UK we are now able to buy at the same price as in Natal. The question you put is pretty wide .Do you mean a property for 100k or 500 k...................as there are plenty in these margains .FindaProperty.com Estate agents property search for sale & rent UK & overseas properties ,etc,etc.If you are comparing to popular housing in Natal,then the UK doesn't have much by way of comparison.JMBroad;103960]Dotty, just give us an example which we can compare to Brazilian real estate, ie.

Where:
What: (size, bedrooms, floors)
How much:
When: How old, is rennovation needed, etc[/QUOTE]

 

[robh]

Which locations are you looking in Dotty?

Preference of size and style is personal,some prefer modern,old,rundown ready for a good makeover ,but in general bargains are to be had all over the UK.I am sure you know all the good homepages in the UK ,but looking at decent 2 bed flats etc in great locations in the UK we are now able to buy at the same price as in Natal. The question you put is pretty wide .Do you mean a property for 100k or 500 k...................as there are plenty in these margains .FindaProperty.com Estate agents property search for sale & rent UK & overseas properties ,etc,etc.If you are comparing to popular housing in Natal,then the UK doesn't have much by way of comparison.JMBroad;103960]Dotty, just give us an example which we can compare to Brazilian real estate, ie.

Where:
What: (size, bedrooms, floors)
How much:
When: How old, is rennovation needed, etc

[/QUOTE]

 

[JMBroad]

So could you give us a comparison of "a decent 2 bed flat in a great location in the UK you are now able to buy at the same price as in Natal." which you found on that site?

I looked on that website ... There is a lot of really good information there...

However I didn't find any 2 bedroom flats in great locations for anywhere near the same price you'd pay for a comparable property in a comparable location in Natal.

I found some parking lots in central London which were for sale for the same price as an average two bedroom flat in Natal though?

 

[Dotty]

Hi,

There are some really cool new apts in Maidstone,2 bed ,next to the river,2 bed cottages in Canterbury, Sussex,Gloucestershire,South Yorkshire etc,almost every County has really nice property at the same price as an apt here.

John you put 200,000 as an average price in Natal for a 3 bed,but seriously for that you will get a basic apt in a very average building,few amenities, location..........and pretty badly fitted out.
I am trying to demonstrate what I personally regard as decent property in the UK at min 100k at todays prices.

Now what about RIO.....................

So could you give us a comparison of "a decent 2 bed flat in a great location in the UK you are now able to buy at the same price as in Natal." which you found on that site?

I looked on that website ... There is a lot of really good information there...

However I didn't find any 2 bedroom flats in great locations for anywhere near the same price you'd pay for a comparable property in a comparable location in Natal.

I found some parking lots in central London which were for sale for the same price as an average two bedroom flat in Natal though?

 

[DGM42]

Hi,

There are some really cool new apts in Maidstone,2 bed ,next to the river,2 bed cottages in Canterbury, Sussex,Gloucestershire,South Yorkshire etc,almost every County has really nice property at the same price as an apt here.

John you put 200,000 as an average price in Natal for a 3 bed,but seriously for that you will get a basic apt in a very average building,few amenities, location..........and pretty badly fitted out.
I am trying to demonstrate what I personally regard as decent property in the UK at min 100k at todays prices.

Now what about RIO.....................

Ha Ha you really do befit your name dotty
There is no way on gods earth can you get a two bedromm apartment in Maidstone on the river or anywhere in maidstone for $R200,000 or £70,000 new or old. You cannot get one anywhere in Kent, Sussex or Gloucester for that price.
Have you ever been to these places, I doubt it.

A one bed apt in Maidstone cost around £140,000
Maybe you are confused agian dotty they do part ownership over in the UK so you may have seen headline rates that say £70,000 but look at the small print and it says you own around 50% and pay rent on the rest.

South Yorkshire will get you a terraced 2 bed house in a bad area.

In my view you love to play devils advocate and spout this rubbish just to wind people up and have no basis of fact when asked.

 

[Dotty]

HI DGM42,

Instead of NOT given facts might be an idea for you to research . I have done mine . Now back to RIO.................

Ha Ha you really do befit your name dotty
There is no way on gods earth can you get a two bedromm apartment in Maidstone on the river or anywhere in maidstone for $R200,000 or £70,000 new or old. You cannot get one anywhere in Kent, Sussex or Gloucester for that price.
Have you ever been to these places, I doubt it.

A one bed apt in Maidstone cost around £140,000
Maybe you are confused agian dotty they do part ownership over in the UK so you may have seen headline rates that say £70,000 but look at the small print and it says you own around 50% and pay rent on the rest.

South Yorkshire will get you a terraced 2 bed house in a bad area.

In my view you love to play devils advocate and spout this rubbish just to wind people up and have no basis of fact when asked.