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Updated about 10 years ago,
Newbie looking at Brazil condo, owner offering financing, need help w/terms
[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!