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sun towers brazil

Discussion in 'Brazil Property' started by rich devaney, Apr 25, 2008.

  1. rich devaney

    rich devaney New Member

    Hi has anyone any news on the sun towers development in brazil.....
    I.E is it on schedule
     
  2. michaelbush

    michaelbush New Member

    Is this the Capuche development in Nova Parnamirim near the airport, that is typically brasilian product? If so, I believe they were working a week or two ago when I was driving past. When are they supposed to be ready? I can have a closer look next time passing and estimate for you.
     
  3. Dotty

    Dotty Banned

    Capuche are a secure company and yes SunTowers is in Parnamirim and they are working hard as always to finish the properties.Have you been over to visit the location of Sun Towers presuming you are living abroad?
     
  4. rich devaney

    rich devaney New Member

    Hi thanks for speedy response, glad to hear things are progressing i am finding it difficult to get any information from the agent i purchased from.... No have`nt viewed in Brazil yet.... Have you any feelings on Sun towers, i negotiated a 6% discount on the sale but i am hearing quite a few of these larger developments are being overpriced????

    regards rich
     
  5. Dotty

    Dotty Banned

    Did you buy it to live in or rent out or to sell on quickly because from a selling on quickly point of view there are many all over Natal so the price increase will not be much at the moment (what was the off plan price?)but from a rental point of view because of the location would realistically be for the local rental market and definately not the tourist market.Capuche serve the Brasilian market they are regular 2/3 apts .
     
  6. michaelbush

    michaelbush New Member

    This depends on whether the prices were inflated for european agents' commissions. If you got 6% discount you probably did not pay too much. This will not be a place for you to stay in yourself. It is a typical Brasilian market product, and your target for a buy to let will be brasilians. It is far away from the tourism areas and beaches. It should be easy to check current availability and prices using a google search for Capuche.
     
  7. Dotty

    Dotty Banned

    Rich see previous posts in the thread.Michael and I are agreeing on this one.
     
  8. rich devaney

    rich devaney New Member

    Hi Michael yes i bought this property for the long term investment as it has a 5year 5% rental guarantee, i was looking for a property to rent for local/professionals so hopefully this will be a reasonable investment,,,, ill check out the google search for Capuche thankyou

    regards rich
     
  9. Dotty

    Dotty Banned

    Rich ,see previous post .Michael and I totally agree the same thing.
     
  10. rich devaney

    rich devaney New Member

    will do thanks Dotty
     
  11. Dotty

    Dotty Banned

    How will it have a 5yr rental guarantee ?That would depend on being able to rent it out.
     
  12. rich devaney

    rich devaney New Member

    Im not 100% sure how these rental guarantee`s work ,,, i have a contract with a guarantee that they will pay me 5% for 5 years, and i assume its down to the developer to put it into the hands of an agent for marketing etc,,, if you have any other advice on rental guarantee`s ??????
     
  13. Dotty

    Dotty Banned

    Is your contract in English and Portuguese and do you have a lawyer?I do have experience in rental guarantees but not with Capuche.With my rental quarantees being successful with excellent administrators.
     
  14. Dotty

    Dotty Banned

    How will you get yout guaranteed rent paid I presume you have a Brasilian bank account already with rg or RNE and CPF?
     
  15. rich devaney

    rich devaney New Member

    Hi Dotty yes my contracts are in English and Portuguese and i am using Manzanarez international lawyers, ill keep my fingers crossed eh,,,,
     
  16. Dotty

    Dotty Banned

    What date have they stated they will deposit rent from because usually it would state six months after completion that % will be deposited (but not with a guarantee because they do not know 100% if they can rent it out) depends how they manage it and who manage it and what experience they have that needs to be taken into consideration . But the safety is that it is going up and the company are competent,but the other financial bit I do not know regarding them because it is a new area for them.
     
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