All Forum Posts by: Mary Ann

[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!

@Dave Visaya 

Thank you for the tip!

This list is indeed epic.  I read some on the list which is a good sign! I really would like to read Getting Things Done next.   I'm following this post in hopes of ordering the rest via Amazon, I have Brandon's book as of today!

@Huy N. 

So yours is officially my quote for the 2015 new year : "It's action, enthusiastic, and a strong financial education that attract money."

@Account Closed 

I just started reading the book this week myself, and I'm already learning something as a newbie too.  I went right to the seller financing section to prepare for a call today.  The book is easy to understand and apply.  Good luck!

Welcome to BP!  

Welcome to BP! I just got started here too and have already made a few local connections.  Well worth it.

@Dave Bingham 

Good point about zoning! Thank you for that.

Thanks @Brandon Turner and @Sean T. !

@Dave Bingham yes focus is so important.  Im curious about the coworking/collaborative space concept because Ive seen some successful ones.  Instead of buying and renting to a traditional buyer, rent to entrepreneurs, etc.  I know this because I am already use collaborative work spaces and have a connection to other entrepreneurs in the community with specific needs.  The downsides are high turnovers since many are based on a subscription/auto payment model.  And yes, I would definitely need to barter some skills to get started with the right partner to learn some more.  I think for now, I'd like to find 1) someone with a space who has no idea what to do with it, 2 ) someone with access to their own capital and 3) someone eager to get into collaborative/cowork/startup/creative entrepreneur real estate space.  However, I'm not sure if it is considered commercial real estate or not? Since I know some places who used a regular "residential" house and rehabbed it as such.  Interesting. Would love to discuss this further with anyone interested.

 mostly rentals but im open at this early point! my dream goal is to get a prop and convert to a collaborative space.