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Updated about 10 years ago,

User Stats

144
Posts
35
Votes
Mary Ann
  • Investor
  • Polk County, FL
35
Votes |
144
Posts

Newbie looking at Brazil condo, owner offering financing, need help w/terms

Mary Ann
  • Investor
  • Polk County, FL
Posted

[I apologize if this is in the wrong forum]

The seller lives near me.  However, the 2/1 condo is located on the beach in Brazil for 60K in a nice looking development, the seller owns it free and clear, but I need help.  This would be my first property ever and taking action steered me onto an unexpected path of overseas real estate.  I would want this as a rental property for cashflow via airbnb and other services like that.  I may be able to hold some retreats there, too.  Besides the monthly rent, I would also need cash to pay for maid service to clean up after each guest, etc.  I have NEVER been to Brazil (yet).

I have very little cash flow now and I am working on building myself up with REI. The seller is offering financing, and asked me for my terms. My questions are: what should be ideal terms for a no money down possibility? can I negotiate the asking price down? is starting with an overseas investment like this good for a newbie?

The property looks turn key, needs no immediate work.

I also would be open to partners on this or private money.  Thanks!

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