It is with some reservation we make the above statement. Of course our friends have good intentions and wish the best for us. However, as good as their intentions may be, their knowledge of the situation can often be lacking. We see many instances of real estate investors who have invested based solely on a friends recommendation, assuming they will have checked everything out before doing so. They have foregone typical legal due diligence and based the investment purely on trust. Trust is an excellent starting point for any investment but without proper due diligence, it is not enough to warrant investing. It is essential you seek the services of a Brazilian lawyer when investing in Brazil. Apart from the obvious risk of losing money, many casual deals are not correctly structured and leave the foreign real estate investor unduly exposed to taxes and with issues in existing their real estate investment. A good friend will understand that you need to check details with a Brazilian lawyer. Please, we would far prefer to see you as a client before your investment, rather than one after your investment.
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- Don’t trust your friends (too much).