Greetings to all!

I think this group is just what I've been looking for for some time now. Although I'm not in the market to rent in Rio, I'm an investor here in the States and I've been investigating for some time now how
to go about investing in the Rio real estate market, e.g. local rentals and vacation/temporary rentals. I love the city and visit often because the love of my life happens to live there.

I have a few questions for those in the group who may be able to help, but first I thought I'd maybe help some people here out. I make a lot of phone calls to Rio and if any of you do, you know how expensive some of the calls can be, but after looking around for some time, I ran across this fairly nice site that has a good selection of pre-paid calling cards, one with no connect fee and $0.074/minute cost and another one that I use (it ends up being cheaper for calls of an hour or more) that has a $2 connect fee, but is only $0.02/minute. They do have an odd security protocol that requires them to call to verify before they email out the PIN number. So
there's my contribution before I ask too many questions.

Now, as part of my due diligence, does anyone know of how a foreigner could get investment financing for international real estate (non-private means)? Are there any American firms who are capable or
willing to hold an international mortgage? I will be eligible for legal residency in the not-too-distant future, would this help my company (me) to find financing? If not, it's no real problem, but if
such an avenue was available, it might be worth checking out.

Secondly, if anyone here has any experience in leasing or renting temporary or vacation rentals in Rio, what has been your experience as far as return on investment, complications and problems and
overall experience?

Thanks very much,
Mitchell

Sorry, I left out the actual URL for the calling cards. It's at: http://www.nobelcom.com.

Hi Mitchell,

I would like to welcome you to our group on behalf of the members. Please, feel free to post any and all questions about Brazilian Real Estate. Also, I feel that it would be to the group's benefit to take
our discussion to the Message Forum. With your permission, I would like to post our initial Q&A session to the board.

We are in the process of establishing a Real Estate Consulting Business here in Rio de Janeiro. The Company will specialize in providing property search, evaluation, title investigation, client
information, legal and financial troubleshooting and property financing. The process is in the final stages and we are planning to launch the business within six week. Meanwhile, I can provide
consultation via this group.

I feel that Brazil has some serious potential in its RE market. My feeling was so strong that I ended up buying two apartments here in Rio and now in the process of purchasing a house in Itaipava (one
hour from Rio). From the investment point of view, I have the best ROI ever; from lifesyle quality and happiness perspective, my investment exceeded all expectations.

I am working on comprehensive answers to your questions and will try to post them within a day or two.

Thank you,

Boris

These services, Boris, I am quite interested in-please keep me advised.

Happy New Year! Jim from NYC

Chris,

Well, I'm an investor, software engineer and a graduating senior in
college. I agree that Rio is fabulous, but that statement has to be
tempered with the knowledge that there are still many problems there,
which you'll only really see or hear about if you live with normal
Brasilians. I heard an old funk (rap) song called "Rap da Felicidade"
that, roughly translated, goes something like, "the gringo comes to
Zona Sul, he goes to the beach and the coco bars, he doesn't know
reality." Although now, you can take a tour of Rocinha (even while
sitting in an open-top Jeep), a thought that just strikes me as out
of place.

I've heard cariocas say that 'in the US, we live, in Brasil, they
survive.' But I think these particular people were being a little
facetious because they're from Barra, which is not a favela by any
means.
But I absolutely love the place and the people are wonderful. There
is simply more to it than beaches and luxury hotels.

All in my opinion, of course.
Mitchell

Mitchell,

Very well said... I believe that the same principle applies to many places and many situation. Just to illustrate yout point here is a joke:

A guy has a near death expirience and ends up in Purgatory where he gets a chance to pay a short visit both to Heaven and Hell. He certainly enjoyed Hell for there was plenty of booth, great music and
wild women. He found HEaven to be somewhat lacking. It was way too quiet, everybody was wearing white ropes and the music was more like Muzak that you'd here in the elevator...

A few years later when he died for real, since he was judged to be 50/50 he was given an option to choose where he wants to eventually end up. Needless to say that he'd chosen Hell just for the sake of
the great time he had there... As soon as he made his decision, he was picked up by sweaty cursing stinking devils and thrown into a pool of boiling oil.... "wait," he shout, "it is not what I saw
here the last time...". "Well," the devil in charge replied, 'Don't mix up tourism with immigration..."

I need to finish a few things, but I will try to expand the topic later on, I think you hit a nail on the head...