The Secret To Making Money
From Beachfront In Brazil
Dec. 5, 2013, Fortaleza, Brazil: Kathleen Peddicord discusses some of the pros and cons of purchasing and selling real estate in Brazil…navigating this overseas market.
Dear Live and Invest Overseas Reader,
Brazil presents opportunity for both the investor and the second-home-in-the-sun buyer. However, purchasing property in Brazil can be tricky.
The buyer in Brazil has to navigate constant fluctuations of the currency exchange rate between the real and the U.S. dollar. In addition, Brazil imposes exchange controls, meaning you must be careful about how you bring money into the country or you could have trouble when the time comes to take it (and any associated profits) out.
I know investors who tell horror stories about their experiences trying to repatriate funds from Brazil, including one American who tried to enlist the U.S. embassy as an ally in his battle. FYI, the U.S. embassy can't really help with this kind of thing. This is what your local attorney is for.