K-man said:InternationPlayboy said:I should have at least $40-50k saved, which gives me enough money to buy a property in Brazil. If I buy this property, I should be able to rent it out for at least 6-800 a month. Now I have a little more cash flow coming in. Repeat, do the same and buy another property in 3-4 years. After my second house, I'm gonna be making an additional $10-15k a year, which will speed up the process of buying more properties as long as I keep working hard. I realize you'd usually get taxed out the ass being a foreigner, but I'm gonna have that taken care of. At this rate I should be semi retired by 40 bringing in around 4k a month if not more
You better forget about this now. If there was an asset for 40k that produced income of 7-9k (12months x 600-800) do you think the Brazilians would not buy it themselves, instead of inviting the gringos to share in the spoils?
Nowhere in the world are the returns from real estate that high.
I own a beach house just 300 miles from my city, not 3000 miles. And it is still a big hassle. It only rents well during the several months of active season. And it needs to be repainted, leaking toilets fixed, water heater replaced, a ton of other bullshit. Not to mention the bills for property tax, electricity, and other utilities. And imagine getting a call from your neighbor that your basement is flooded - how will you drain it from Miami? Of course, you can have a property manager taking care of this shit for you, but what will he charge and can you trust him not to overcharge you just for being a Gringo who can't file a complaint with the local Brasilian Better Business Bureau that only works in Portuguese (even if there is one)?
Just trying to save you from a lot of disappointments.
Ha. I didn't see those numbers.
Yeah, they seem a little fishy.
In Southern California a place costing $250,000 to $350,000 might rent for $1000 to 1800 per month now.
I would be surprised that you could get a place in Brazil for 40k right on the beach and rent it for $800 per month.
What beachtown is this in?
Also, listen to K-man.
He is a guy that actually owns a second property, not some guy who talks a big real estate game yet doesn't even own a tent.