All Forum Posts by: Felipe Lois Affini

Congratulations on your acquisition @Joseph Gonzales. I like that idea of putting someone to live rent-free and be the handyman there. I would just recommend you to be careful about choosing this person to don't become an extra problem.

 What´s the average lot rent in your area? Will you be able to double the value right away or you going to need to do it at different times (have you checked already all the leases)?

If you could find good and cheap MH in your area you should buy the two as you mentioned (to stay within your budget).

Otherwise, I would recommend to do the other improvements, raise the rents, save some money, and then buy the two MH you want to.

@Carl Dieckmann Never happened to me but I am pretty sure @Bruce Lynn will be able to answer you.

You´re welcome, Bryan.

Also, if you want to, contact @Bruce Lynn. Although he doesn't hold seminars (as far as I know) he is very knowledgeable in tax sales and is active here in BP.  

@Bryan Price I would recommend you to talk to @Arnie Abramson. He always holds seminars about the tax sale in Texas and he have a program to help new people in the field take the first steps ( I am a priority member since 2018 and it´s been very helpful for me since I dont live in Texas). 

@Juan David Maldonado I think it is worth it. 
But you have to take the time to study and understand the rules at your State. Like @Arnie Abramson mentioned, every state has a different rule. To invest - or not - in tax deeds will depend if these rules, and the numbers, fit your investment criteria. 

If you think about Texas, reach out to @Arnie Abramson and @Bruce Lynn . They are some of the most knowledgeable people in that field that I know. 

Hi @Nahum Ella,

In the past, I used some local banks in Florida where I could open it remotely. But right now the bank that I use requires you to show up at the branch to sign some papers. You can start the process (send the documents, choosing the type of account you want, etc) remotely but the banks that I know require that, in the end, you show up and sign to get the account open. 

I don't know if you have a personal account yet, but I found harder to open a business acct that a personal (having the personal helped me to open the business one).

It´s true Aaron. 

Favela Real Estate is different basically because they don't (and never) owned the land in most of the cases. There is public land that could never be occupied. But the local government never took action to take these people of there (when the invasions started). So after, 20, 30, 50 years it turns out to be impossible to move millions from these hills. So they just let it go.

"Contrato de Compra e Venda" is the real estate sale agreement made between the former "owner" and you (the Buyer). This is enough as far as you don´t have any major issues (that you need to take to the court). Even if you have to take to the court you may have some rights but it will be harder to prove (and more expensive) with only this contract (and no "Escritura Pública" or "Matrícula").

Hey Aaron. You are right, that is always this balance between how much you are going to lose and how much you have to spend to receive that money (hiring a lawyer, file a suit, etc would be way more expensive than the rent itself). 

Basically the difference between "Escritura de Compra e Venda" and a "Matrícula de Registro de Imóvel" is that the first one is the purchase and sale agreement registered in a specific notary in Brazil (Cartorio de Notas) and the second one is the deed of the property. So the correct way to buy a property in Brazil is to first register the contract at this notary (Cartorio de Notas) and then take this document (Escritura Pública) to the second notary (Cartório de Registro de Imóveis) to register this transaction at the property deed. This way you will have complete rights over the property.  

It's a little complicated to translate and explain the Brazilian system as we don't have the same institutions and procedures in the US. So if something is not clear don't hesitate to ask me. 

Hey Jeff, thanks.

I have never financed property in the US (yet). My LLC (G4F Investments) basically helps Brazilian investors to buy real estate there. So we are using private money so far. I spent the past 2 and a half years building my credit score (Do you have a credit card in the US?). I also have my ITIN. Last time I was in Texas I talk to a bank manager and she told me I could get pretty good fees if I wanted to finance real estate or car (based on my FICO score). But I will know better when I try to get a loan.

I pretend to start looking for financing options once I have a better idea (and info) about how the lending market is going. There is still uncertainty and I don't need that for now.

My idea is to buy a property using a bank (or other financing option) in the 3rd or 4th quarter this year.

Sorry for not being able to give your better info.