Issue 5 | Autumn 2013
A publication of
Mayor Buddy Dyer and Sean Slack
How to Invest in Florida Port Canaveral A ‘Hidden’ Gem of Opportunities for Play and Business Real Estate Investors Continue to be Drawn to U.S.A Sponsors:
Table of contents
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Port Canaveral A ‘hidden’ gem of opportunities for play and business — Shannon Feeley
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The main differences between the Brazilian and American real estate markets
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How to Invest in Florida
What about Lake Nona!?
— Prof. Dr. Attila Andrade Jr.
— Carmenza Gonzalez
— Rosana de Almeida
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Real Estate Investors Continue to be Drawn to U.S.A.
We are not the capital of Florida but we are the capital of collaboration
— Patricia Tan
— Sean Slack
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CFBACC News — Laiz Rodrigues
OPEN THE DOOR TO THE
AMERICAN DREAM
You can buy a house. Or you can invest in a home — in one of the most desirable real estate markets across the United States. Whether you're looking for affordable move-up, vacation or retirement homes, urban, golf or suburban lifestyles, Lennar makes the American dream a reality.
MIAMI • ORLANDO • TAMPA • NAPLES • JACKSONVILLE /// HOMES FROM $200K VACATION HOMES • INVESTMENT HOMES • MULTI-GENERATIONAL HOMES
lennarhomesusa@lennar.com • 305-485-2556 www.LennarHomesUSA.com Copyright © 2013. Lennar Corporation, Lennar, the Lennar logo, Everything’s Included® home and the ei logo are registered service marks of Lennar Corporation and/or its subsidiaries. 03/13. Next Gen® is a registered trademark of Lennar Corporation and/or its subsidiaries. 03/13. Stated dimensions and square footage and square meters are approximate and should not be used as representation of a home’s precise or actual size. Prices subject to change without notice. Models/lifestyle photos do not reflect racial or ethnic preference. Proposed amenities for communities are subject to changes, substitutions and/or deletio
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Editorial Team Publisher Justine Assal Chief Editor Nicole Hatti Contributing Columnists Shannon Feeley, Carmenza Gonzalez, Lais Rodrigues, Sean Slack, Patricia Tan, Rosana Almeida, Attila Andrade Translations Wagner Languages Services Contributors Laiz Rodrigues-Hot Spot Orlando, Juliana Scolari- Moneycorp Carmenza Gonzalez- CZA Inc. Orange County Office of Mayor Teresa Jacobs Sean Slack- Marquis International, Shannon Feeley - Canaveral Port Authority Advertising info@floridalinkcorp.com (407)401-9690 News Justine Assal Q&A Nicole Hatti Submissions editor@floridalinkcorp.com Published by floridalink www.floridalinkcorp.com
Orlando Green & Yellow Magazine A bi-monthly, online showcase of Central Florida as a business,medical, high tech Mecca and the best place for family life for Brazilians interested in visiting for business, leisure, and trade www.OrlandoBrazil.com is a publication of Floridalink LLC. & ORB Marketing Solutions Printed and published in the United States. Published 6 times per year. Copyright 2013 Floridalink LLC No portions of this work may be copied or reproduced without express written permission of the Publisher. We can be contacted at Floridalink LLC Info@floridalinkcorp.com 407-401 9690
An online magazine featuring Orange County Mayor Jacobs, The Brazilian Chamber of Commerce, VisitOrlando, Orlando International Airport, Orlando Regional International Council showcasing business, trade, lifestyle, events, and sports for Brazilians looking to visit for commerce, leisure, or trade.
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PORT CANAVERAL A ‘HIDDEN’ GEM OF OPPORTUNITIES FOR PLAY AND BUSINESS Port Canaveral is an Atlantic seaport an hour’s easy drive east of Orlando, nestled among the beautiful beaches that draw many Brazilians to the coast. It’s a resource worth exploring, both as one of the world’s most popular cruise ports and the most efficient cargo gateway for our region. It’s also a great place for international visitors to find uniquely Floridian recreation experiences and opportunities for fun far beyond the average port. 6 orlando
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The Most YearRound Cruise Choices With more year-round homeported cruise ships than any other port in the state of Florida, Port Canaveral is a perfect springboard for sea voyages to the Bahamas, Caribbean (Eastern, Western and Southern) and Florida’s own Key West. Three major cruise lines — Carnival, Disney and Royal Caribbean — homeport ships here, offering 3-, 4-, 5-, 7-, 8- and 9-day itineraries with innovative onboard and island adventures. With a great selection of cruises plus a reputation as a relaxed easy-to-use port, Canaveral has experienced a 38 percent surge in multi-day passengers in the past two years, making it the fastest
Orange County
growing cruise port in Florida. The Port opened its seventh dedicated cruise terminal and adjacent parking garage in 2012, after an 11-month fast-track construction process, and already is planning for an eighth in the near future.
Exploration Center Is Newest Attraction Throughout its 60 year history, Port Canaveral has opened its doors to the public, working to build and attract facilities that make it a destination in itself. Today these include an ocean beach with year-round lifeguards, three public parks, overnight camping and cabin accommodations, a popular fishing pier, boat launching ramps, marinas, charter boat companies and waterfront restaurants. The newest addition to the Port’s recreation facilities is an iconic seven-story 22,000-square-foot visitor exploration center, opening this fall. Built to welcome visitors to the Port and the Central Florida region, its two observation decks provide the best views anywhere of Florida’s renowned Space Coast. Inside, four floors of hi-tech interactive exhibits combine learning and fun as they carry visitors through 12,000 years of local history from shipwrecks, treasure hunting, military battles and Ponce de Leon’s land-
ing to today’s commercial fishing, beach environment, surfing, citrus industry, space exploration and cruise and cargo business. The center’s opening is just the beginning of a major expansion of The Cove — the Port’s harborside dining and entertainment district — which also includes plans for a concert-ready outdoor amphitheater and new space for large and small retailers, additional restaurants and entertainment venues and potentially a boutique hotel.
Channel to Cargo Opportunities Port Canaveral actively welcomes part-
ners to support and share in its growth, with a variety of business opportunities in the maritime and leisure industries. It also provides significant benefits and potential savings to companies that want to ship goods efficiently to the thriving Central Florida market. A central location, closer to more major Florida markets overall than any other seaport Closest port to the Greater Orlando market with its growing population of more than 7 million residents and 60 million tourists and visitors annually Direct access to the Atlantic Ocean, 45 minutes from buoy to dock Deepwater channel, with widening and further deepening under way Largest dockside freezer/chill warehouse space on U.S. south Atlantic coast Available capacity for business expansion More than 80 million square feet of distribution and industrial space within an hour drive One of the few Florida deepwater ports that offer room for growth and expansion, Port Canaveral is investing in the future of its cargo business by adding two new cargo berths with post-Panamax ship-to-shore cranes this year and widening its shipping channel by 100 feet and deepening it to -44 feet by 2014 (with future plans for -55 feet). Greater Orlando has many resources for Brazilian tourists and companies. Port Canaveral has much to offer both.
Profile
Shannon Feeley has been with the Canaveral Port Authority since 2003. In her role in Cargo Business
Development, she actively works with cargo industries to attract new investments to the port, ensure retention of existing business, and to counsel and educate the Central Florida community on all aspects of trade. She also man-ages Port Canaveral’s Foreign Trade Zone 136, which encompasses all of Brevard County. Shannon has a Master’s Degree in Transportation and Logistics
Management from American Public University; a Bachelor’s Degree in Organizational Communica-tions from the University of Central Florida; an Associate of Science Degree in Business Management and Administration from Brevard Community College; and a Professional Designation in Logistics and Supply Chain Management. She is also a Certified Professional Writer and graduate of LEAD Brevard.
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The Main Diferences Between the
BRAZILIAN AND
AMERICAN
REAL ESTATE MARKETS 8 orlando
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Real Estate Consulting
With the significant increase in investors interested in the real estate market in Florida, some questions are now common and we take this opportunity to answer to our readers.
What are the differences between the way real estate agents operate in Brazil and the US? In Brazil, real estate offices generally have exclusive property listings. If a client is interested in a particular property, he must consult the listing agent for that property. In the US, all agents have access to all listings on the market, because there is a common data base. Who pays the sale commission? The payment, exception made for specific negotiations, is always made by the seller, be it a re-sale or new sale through a builder. How is the commission divided? In the United States there are two agents involved in the transaction, one representing the seller and another representing the buyer. The commission is divided equally between the two real estate offices and the office owner will determine the percentage that the office will retain and what will go to the agent.
sion will be, in the majority of the cases, 6% and paid integrally to the listing agent. Who pays for homeowners’ dues and property taxes when the property is leased/rented? In the US, the owner is responsible for these expenses as well as for the maintenance of appliances such as refrigerators, stoves, microwaves, dish washers, and clothes washers/ dryers and air conditioning units. In case the owner does not live in the United States, who can manage the property? Some real estate offices offer property management services, and rates vary. For properties used as vacation
rentals, the starting rate is $ 150/ month. In the case of a rental/lease, the administration fee is generally 10% of the monthly rate. The range of services is wide and may include all the way from payment of bills (homeowner’s dues, power, property taxes, mortgage, etc.) up to management of other services like landscaping, cleaning, repairs, improvements, etc. How much do real estate offices charge for renting/ leasing the property? One month of rent/lease. The agent registers the property in the property management system and will prepare all pertinent rental/lease documentation. Are there rules for maximum rent/lease terms? It depends on the location of the property and the terms of the license applied for. In general, sub-divisions located in Kissimmee, Davenport, Haynes City (cities located close to Disney) are built with a view to vacation rental/lease to tourists and therefore can be rented/leased as a hotel room. However, in areas such as Orlando, Windermere, Winter Garden, Dr. Phillips, the sub-divisions are strictly residential and only long term rentals/leases are allowed, for
Is there any advantage for the buyer to negotiate directly with the seller or the builder? In reality, there is a disadvantage because the buyer will not have a professional to represent him/her and protect his/her interests, but if this would be the case, the commisorlando green and yellow 
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Real Estate Consulting
a minimum of 7 months. Normally buyers in these areas are buying for personal use. Do taxes apply to rental/ lease income? Yes and the investor must declare this income annually. If your property is only for your own vacation use, there is no need to declare income tax. We advise our clients to seek counsel of a real estate attorney before purchasing the property. There are several professionals apt to guide client’s case to case. Are there lines of credit for foreigners? Presently, there are financing options of up to 70% of the property value for foreigners. The purchaser must fill out specific financial forms and present proof of income and other documentation for approval. Are property prices below market value due to the
real estate crisis? The market is starting to rebound, but there are still many good investment opportunities. There has been an increase in demand and new construction is still not up to speed, which causes a lack of offering in the market. However, in areas of greater demand, there has been an increase in prices, but these are still well below the values in Brazil. Is there negotiation leverage when purchasing a new home from a builder? The margin of negotiation is very small or inexistent when purchasing directly from a builder. In case of purchase of pre-owned homes, negotiations are commonplace. Besides the purchase price, are there any additional costs associated to the purchase? Yes, in case of cash purchases, the additional costs represent from
Profile
Rosana Almeida Graduated in economics at FEA – University of São Paulo, with a Masters in Business Administration also in FEA – University of São Paulo. She has worked in the area of Information and Resource Management and Technical Staff for 15 years. Business consultant for several companies in Sao Paulo. Resides in Florida since June, 1999, and is an entrepreneur in the area of services. She was president of the Brazil Chamber of Commerce in Central Florida for 2 consecutive years. Licensed real estate broker in Florida, in 2007 started the company Florida Connexion, which specializes in the structuring of real estate for foreigners wishing to invest in Florida.
1.5 to 3% of the sales price. When financing is involved, they may vary from 5 to 7%, depending on the type of financing. Are there any taxes on profits obtained from sales of property when the seller is foreign? Yes, that is why we advise our clients to seek counsel of a real estate attorney before purchasing the property. How is succession handled in the event of the death of a foreign owner? There is a transmission tax due to the heirs in case of a private owner. That is the reason we advise our clients to consult a real estate attorney before purchasing property. In many cases it would be interesting that the purchase be made in the name of a company registered in the United States. Thus, the heirs would be company shareholders and succession automatic, with no additional fees.
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How to Invest in
Florida
Florida has never been so interesting for Brazilian investors as at the present moment. With the unfortunate 2008 mortgage crisis, real estate prices have depreciated very much.
Besides that, with the valorization of the Real and the consequent devaluation of the Dollar, incentives for investments have become even more attractive. Let us agree that, today for the price of a sandwich and soft drink in S達o Paulo or Rio, you can have a decent lunch in any reasonable restaurant in Florida. As well, while you pay a toll of R$ 15 to R$ 20 on a badly maintained highway in Brazil, you will pay US$ 1.25 to US$ 2.00 on a wonderful Florida road. So, as an initial observation, this is the best moment for Brazilians to invest here. This article is basically meant to examine the best way to legally invest in Florida. The environment for investment in Florida is excellent but the Brazilian investor must understand that is a legalist environment nothing here is done nor should be
Business
done without legal counsel, otherwise, the consequences may be disastrous. The first observation that must be made is that choosing the right type of incorporation will determine the success or not of your business in Florida, besides, of course, business opportunity chosen. So, the choice of the type of incorporation will determine the degree and extent of responsibility of the partners with their creditors. In the same measure, in certain cases, it will determine the fiscal exposure that the business will have and shall indicate how much net profit will result. The Brazilian investor will be surprised with the ease with which one can open a business in Florida (as in the USA in general). While in Brazil is seems that the State does not want one to be an entrepreneur (creating all sort of obstacles), in Florida it is just the opposite. Within 24 hours, a company can be legally formed and registered, be it under a sole proprietorship, be it under a partnership, whichever the type of your business incorporation. In summary, and without wishing to exhaust the subject, there are three paths for the investor to do business in Florida; individual entrepreneur, a partnership and the figure of the commercial entity (a corporation and an LLC). Let us look into the advantages and disadvantages of each one. The figure of the natural person (sole proprietorship) may be interesting for minimalist, small businesses for its simple documentation and accounting processes. However, it presents enormous disadvantages for the business tends to confuse itself with the individual. So, all taxes due from the business will coincide with those due by the individual, and thus becoming much more vulnerable as a taxpayer. The same may be said for the creditors where the individual will need to protect himself against efforts to liquidate his personal property.
The Brazilian investor will be surprised with the ease with which one can open a business in Florida. The second path would be the partnership. This brings together two or more persons who pool their capital investments and time to achieve a common goal, which in this case, would be the development of a business. This form of partnership which is represented by a contract, however, has one important characteristic. It is only a contract and does not constitute a commercial entity. The consequences of this are very important; under a fiscal point of view, the consequences of the business will be reflected directly on each individual partner. In the same manner, without the figure of the commercial entity, the creditors may seek to liquidate each partner’s assets.
The third path to be taken to do business in Florida would be the constitution of a juridical person. Without going into deeper details about corporations that strange to the Brazilian entrepreneur, such as an “S� corporation (which is a tributary aspect that typically exists in the US but not in Brazil), there are basically two forms of corporate juridical persons to be considered: corporations (equivalent to a shareholder corporation instituted in Brazil by Law 6404) and limited partnerships (nowadays regulated in Brazil by the new Civil Code) the so-called LLCs, or in other words, Limited Liability Companies. Corporations are normally constituted to deal with large busi-
Business
ness ventures, especially when the investors is seeking resources in the market, because only commercial entities are able to offer shares in the stock market. Its constitution is more complex and its operations much more complicated and involved than the LLCs. So, in general terms the recommendation is for the LLCs, exception made for the example in the above paragraph. It is the most interesting for the Brazilian investor, as well as investors in general, for the organization of their businesses in Florida. In the following paragraphs, we will outline some basic principles of the LLCs. In relation the organization, incorporation of an LLC (contrary to the “limited society - Ltd.” in Brazil) is much simpler in Florida than in Brazil. However, it does require some legal caution. For example, the liability of the partners is defined by state law and based on how each partner subscribes his/her shares and how much they pay into the company capital (it is interesting to note that contrary to Brazil, the state of Florida does not speak of shareholders, but of members). Thus, if there are no frauds of violations of the law (which are punished
rigorously to the full extent of the law in the US, with no tolerance) the responsibilities of the members of the LLC are based on the number of shares each member subscribes and pays for. The same is said about the dividends that shall also be divided according to the proportion of shares of each member. The company shall have at least one administrator or manager; but there is nothing to keep the articles of incorporation from appointing more than one. In the same manner, the articles of incorporation may detail the obligations, duties and rights of each business administrator. Taxation is different from that in Brazil. Besides the tax code pertaining to the juridical person, which is quite complex in the US, there are also taxes on credit, payment or transfer of dividends to the persons members of the LLC. In Brazil, once the juridical person is taxed, the distribution of dividends to the partners is tax exempt, which is decidedly an advantage in favor of the Brazilian tax code. So, as we have discussed before and reinforce now, the rules are different and the Brazilian investor must keep that in mind and be cautious when programing his investments and business in Florida.
People have asked me what the best options for investment are presently. Without a doubt the real estate market is still the best option, where prices are quite low, as compared to those in Brazil. It is still ideal to buy property in foreclosure (mortgage execution) because prices are surprisingly low and investors can pick up excellent deals. For the Brazilian investor, the great deal is still to buy these properties in foreclosure, remodel them and sell at a profit. Another interesting option is the time share, where the Brazilian tourist can “buy” his vacation time for a determined period per year cheaper because he does not have to purchase an apartment or house, and will guarantee only the right to use the property for a certain time during the year. In our practice, there are numerous business opportunities that we come across from people wishing to sell their businesses or to associate themselves with Brazilians with capital. Those really interested may, opportunely, contact us.
Profile
Prof. Dr. Attila Andrade Jr. Dr. Andrade has been a senior attorney and partner in the international law firm of Advocacia Attila de Souza Leão Andrade Jr. , a firm established in S.Paulo, Brazil since 1982. The law firm is engaged in the practice of international law, corporate and taxation. Further information is provided at his law firm’s website: www.advattila.com. br Dr. Andrade can be contacted by email to adattila@uol.com.br.
What about
A while back I mentioned how Brazilian companies, entrepreneurs and visitors specially, were the most notable contributors to Florida’s economy. The Orlando region continues to benefit by the millions of Brazilians coming to Orlando not only to shop, but to enjoy the entertainment capital of the world, experience a great quality of life and invest in viable business opportunities. 16  orlando
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LAKE NONA
LAKE NONA UPDATE HOUSING Housing sales and construction have been on record pace at Lake Nona for well over a year now. The community recorded over 320 new contracts and over $100 million in sales since the beginning of 2013. Those sales totals make Lake Nona the best-selling community in the Orlando region, and the 14th best-selling community in the United States. Lake Nona’s newest community, Laureate Park, will open its multi-million dollar Aquatic Center later this summer. Lake Nona also opened its 378unit Water Mark apartments, with residents already moving in during this summer. COMMERCIAL The first phase of the Lake Nona Town Center is projected to commence construction by the end of this year. This phase includes a 200-room hotel, 70,000 square feet of office space and three restaurants. The project will open during the first quarter of 2015. The Lake Nona Gateway Building, a 70,000 square foot medical office building, will commence construction in a couple of months. Florida Hospital will be the principal tenant, along with University of Central Florida’s Pegasus Health. The Lake Nona Gateway Building will open next year.
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MEDICAL CITY Sanford Burnham Medical Institute recently announced a new collaboration with Pfizer Inc. to identify new therapeutic targets for preventing and treating obesity and diabetes. The collaboration will allow them to translate innovative science into potential new medicines.
Construction continues at the Orlando Veterans Affairs Medical Center, with portions of the center opening before the end of the present year and the majority of the hospital will open in 2014, and will treat thousands of patients each day. I invite you to visit their website so that you can see why Lake Nona is the best place to invest! www. LearnLakeNona.com
Profile he Metro Orlando region is proud to continue welcoming Brazilians interested in the best opportunities to invest both in businesses, joint ventures and of course in real
estate. Talking about real estate, I would like to update you on the latest happenings at Lake Nona, better known as the Medical City, but Lake Nona is much more than a Medical City…
Carmenza Gonzalez Carmenza U. Gonzalez is the Founder and CEO of CZA, Inc. As the former vice president of international business development for the Metro Orlando Economic Development Commission, she brings to the table over ten years of experience in identifying key industries and trends that can have a positive impact on the economic growth of the Central Florida region. Mrs. Gonzalez attributes the early success of CZA, Inc. to
her extensive travel to prime international markets, which have enabled the company to establish a healthy network of investors and collaborators around the world. Her active involvement with local businesses and community organizations have also contributed to CZA, Inc.’s A-list standing in the Central Florida region as a leader in business development across all categories. www.czainc.net Cgonzalez@czainc.net
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Our Mission The mission of the Central Florida Brazilian American Chamber of Commerce is to facilitate the relationship and business partnerships, to create or increase trade and investment among its members 7512 Dr. Philips Blvd #50-354 Orlando, FL 32819
407 610-7158 www.cfbacc.com
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It’s official! Most press reports now indicate that the U.S. housing market is in recovery. Across the country, the numbers of transactions are growing, inventory levels are shrinking and prices are rising. Of course the United States is a huge country and it is difficult to generalize, especially when location is such a key element in a property purchase.
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Real Estate Investors Continue to be Drawn to U.S.A. 20 orlando
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owever, Dr. Lawrence Yun, chief economist for the National Association of Realtors® (NAR) has stated that the recovery is strengthening and to expect limited housing supplies for the balance of the year in much of the country. In a statement dated June 20, 2013 Dr. Yun went on to say that” housing numbers are overwhelmingly positive. However, the number of available homes is unlikely to grow, unless new home construction ramps up quickly. Only additional supply from new homebuilding can moderate future price growth”. The speed at which homebuilders can ramp up production remains to be seen. Many scaled back their activities during the market’s slowest years, and a shortage of skilled labour is being experienced in many areas. Latest research by NAR offers this perspective on the market: Existing-home sales are at the highest level since November 2009 when the market jumped to 5.44 million as local buyers took advantage of a tax stimulus
Real Estate
package. Sales have stayed above year-ago levels for 23 months, while the national median price shows 15 consecutive months of year-over-year increases. Total housing inventory rose 3.3 percent to 2.22 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace. Listed inventory is 10.1 percent below a year ago, when there was a 6.5-month supply. The national median existinghome price for all housing types was $208,000, up 15.4 percent from the previous year. This marks six straight months of double-digit increases and is the strongest price gain since October 2005, which jumped a record 16.6 percent from a year earlier. The last time there were 15 consecutive months of year-over-year price increases was from March 2005 to May 2006. So what does this mean to foreign investors who have not yet invested in the U.S.A. market? Have they “missed the boat?” Not necessarily. Homes in many areas are still being offered for sale at prices up to 40% below where they were at the height of the property boom in 2005 – indicating a good opportunity for capital gains. Rents have continued to rise as rental demand has increased, giving landlords a good return on $$$s invested. As I travel around the world educating would-be investors, the question I hear most often is “How do I get started?” The good news is that it is not hard to buy real estate in U.S.A. Foreign investors have the same ownership rights as Americans, and the market is highly regulated which affords the consumer some level of protection. One of the keys to investing successfully is to accept that one size does not fit all. You should establish your own investment criteria and then find properties that meet those criteria. Your budget, availability of financing, timing, attitude to risk, and exit strategy is something unique to you. Having established what these criteria are, you should then strive to identify a market(s) and properties that meet your needs. This can be difficult
to do from another country, so your next task should be to identify an agent to work with. The agent may be in your home country, or someone who resides in U.S.A. who is experienced in working with overseas investors. Much can be learned from the right professionals.
estate agents outside of U.S.A. This is an important differentiation, as Realtors® are bound by a Code of Ethics over and above the minimum requirements of their local real estate licensing law. Generally the Code of Ethics requires a Realtor® to:
Total housing inventory rose 3.3 percent to 2.22 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace. I offer this guidance on selecting an agent. Interview several agents, either by email, phone or face-to-face. You should not be embarrassed or feel awkward about telling the prospective agent about your selection process, and the need to ask a few questions. The agent will respect you for being open about it. Six questions you should ask a prospective agent. One or two of these pertain specifically to American agents, but can be modified for your local market. Are you just a real estate agent or a Realtor®? Only members of the National Association of Realtors® may use the term Realtor®. NAR do offer membership to real
1
Be loyal to clients Have a legal duty to clients Cooperate with competitors Be truthful in statements and advertising Not interfere in exclusive relationships that other REALTORS® have with their clients
2
How long have you been in the business, and is this your full time job? This is a good indication of the agent’s experience and dedication to their profession. Generally, agents who have made real estate their full time career are more likely to be knowledgeable about the latest laws, standards of practice, trends in the market and how they may affect you as a buyer.
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Real Estate
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Which NAR designations do you hold? The answer to this question is an indication of how seriously the agent takes their personal education and responsibility to be aware of the best ways to serve their clients. Designations indicate that the agent has undergone structured training courses, run by the National Association of Realtors® aimed at providing tools, knowledge and skills needed to work successfully with clients. The most important designation for an overseas buyer to look for is the CIPS – Certified International Property Specialist, a designation is held by a relatively small number of agents, but one that is entirely focused on working a global environment. You will find a directory of CIPS at NAR’s website www.realtor.org
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Do you work alone, or as part of a team? An agent operating alone may do an excellent job, but if you need assistance at a particularly busy time you may get frustrated by their lack of availability or responsiveness – especially as you will be working across different time zones. Try to work with an agent who is part of an immediate “team” that includes other Realtors® and administration staff. Beyond that, they should also have an extensive support team provided by the company they work for – effectively giving you multiple levels of assistance should you need it.
include: taking title, qualifying for a mortgage, home inspection, insurance considerations, currency exchange, money transfer and money laundering regulations, taxes, immigration, logistical problems associated with document signatures and notarization, and so on. Where these areas require the service of another professional, such as a real estate lawyer or accountant, the agent should be able to make the appropriate introduction. Here are two examples of properties which may meet your investment criteria. Atlantic Ocean Views Close to Miami
High quality construction and finishes in these high rise condomoniums that sit on the intracoastal waterway with views across to the Atlantic Ocean. 805 sq ft 1 bedroom units from US$195,000 Florida Gulf Coast Waterfront with Boat Dock Hard-to-find brand new construction directly on the water. Each town home has its very own boat dock. Waterfront locations will always have limited supply and command a premium. These homes represent excellent value from just US$250,000 and 50% financing available. Value in 2005/6? $470,000
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How many overseas clients like me have you worked with in the past? Don’t be afraid to ask for customer testimonials or references, and the ability to speak to previous clients if that is what you need to feel comfortable in making a decision about the agent.
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What are some of the common pitfalls I may encounter? The agent should be able to articulate a number of areas where they will exercise particular care in working with you as a foreign buyer. Some of these may 22 orlando
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Profile Patricia Tan was born in England, and her career in international sales and marketing led her to live and work in many countries around the world before moving to Sarasota in 1997. Patricia is a Certified International Property Specialist (CIPS), Graduate Realtor Institute (GRI), and Transnational Referral Certified (TRC). She is involved in global activities of the Sarasota, Florida and National Association of Realtors
(NAR), teaches international real estate on behalf of the Florida and National Associations, and currently serves as NAR President’s Liaison to U.K. Her real estate business operates from Coldwell Banker on St Armands Key, where her focus is to bring international buyers to the local market. She regularly makes marketing trips to Canada, Asia and Europe, to promote Florida’s Gulf Coast and the Sarasota area in particular.
Are you a foreign company finding way to make prosperous investments and to expand and grow your business in the USA? Or… are you a U.S. based company Global Business Development
looking for growth
www.czainc.net
International
opportunities in markets?
CZA, Inc. is a private multilingual Global Business Development company headquartered in Florida, dedicated to assisting companies to grow through international trade and foreign direct investment. …CZA, Inc. is your direct source for global business development and international trade guidance and counsel. We can help you navigate through that process from start to finish, seamlessly and successfully. Our customized assistance includes: Site Identification Services | Customized Research | Access to elected officials | Business Incentives Access to Immigration lawyers, CPA’s & Banks | Personal attention to navigate the system. orlando green and yellow 23
“We are not the capital of Florida but we are the capital of collaboration.” Orlando Mayor Buddy Dyer sits down exclusively with Orlando Green and Yellow magazine to discuss how Orlando city soccer is on the doorstep of becoming the next Orlando major league franchise. 24 orlando
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rlando City is close! As I write this article, Orlando City has just returned to the championship game of the USL with a chance to win a second league title in just three years. The average attendance at Orlando City games dwarfs any of the other teams in the league. A recent agreement in principal with the Orlando Tourism development council has moved plans for a new soccer-specific stadium in Orlando closer to being completed. Finally, a wave of support for the growth of Orlando City into the MLS is being spearheaded by the leadership of Orlando…none other more so than Orlando Mayor Buddy Dyer. Last week, Orlando Green and Yellow magazine had an exclusive interview with Mayor Dyer to discuss Orlando City soccer. We met at his office in City hall in downtown Orlando and explored all of the aspects of the impending move to the MLS, the impact on the local economy, and the future for Orlando as a whole with adding a second major league franchise. OGY (SEAN SLACK): Orlando city soccer is an amazing story…in three short years they have won a league title, a division title, and are advancing to the semifinals...being played tomorrow night. A report recently came out citing record attendance again at the games which are an absolute blast by the way. Can you put into words their amazing transition into Orlando and why you think this brand of soccer has caught on so fast? BD (BUDDY DYER): Well, they (OCS) have been tremendously successful on and off the field. The ownership group has been fantastic…they have involved themselves in the local community and their marketing team is tremendous. And, there really is a demand for professional soccer here in Orlando. We are striving to reach major league status and I think it is going to happen. OGY: A few weeks ago you and Orange County mayor Theresa Jacobs were able to announce an agreement
in principal between Orlando City and the Tourism development council to allocate tourism tax dollars to help fund the new stadium…A very exciting moment. However many Orlandoans do not fully understand how the tourism development taxes work…can you explain where tourism development taxes will go and why this was such an important step?....And what are some of the next steps needed to get this deal done? BD: That is a great question. Many years ago the tourism development council wanted to impose a tourism development tax on hotel rooms...current it is six cents on the dollar for any hotel room that is rented in Orange county. And, that can only be used for certain things. The sixth cent, which was added on when we built the Amway center, can only be used for tourism advertising or construction of a facility that will house a major league sports franchise. The tourism development tax we will be using for the OC stadium will be used form the growth of the first five cents. OGY: I have been involved in developing tourism business for the majority of my life here in Orlando ( Marquis International / Slack’s Tracks MCO) especially from South America…Brasil and Argentina in particular to companies like the Sports Authority, hhgregg, Luggage N More, Macys, etc… my friends here from Discount 102.com work every day helping retailers develop F.I.T. business. I have seen first- hand the benefits of embracing tourism…Now that it appears Orlando will eventually have an MLS team here with a stadium as well, can you explain some of the benefits for tourism, economically, and culturally which will be gained here with this new venture? BD: Well, Orlando is a very diverse community. Last year we welcomed over 57 million visitors to Central Florida…We are the most visited location in the world. And, we are about to marry the world’s leading sport to the world’s leading tourist destination. South America is very big for us. The top three international visitors as you know are Canada, U.K., and Brazil. And ( Laughs) Brazilians spend
a lot of money here. We think with the Brazilian ownership of Orlando City there will be a natural connection to the team and we could be the closest MLS franchise to the South American market and want to cultivate that. OGY: That is interesting you brought up Mr. da Silva. I’m actually leaving for Brazil this Monday for another tourism trade convention and preparing for the next high season with tour operators and businesses there for my clients here. Brazilians are moving here in record numbers and the owner of Orlando City, Flavio Augusto da Silva, has mentioned he would like Orlando City to become the “second team” for Brazilian fans. How does that make you feel as that would be amazing? BD: (Excitedly) maybe Kaka signs with us! It would be great to get a Brazilian star to play here with the Orlando City Lions. We anticipate if we can get the deal done in the next month or so we will have a franchise by the end of the year and be playing in 2015. OGY: Timing is everything….as you know…I remember playing football for Ucf in the citrus bowl in 1994 when the world cup was held here. Now fast forward 20 years, the world cup will be in the backyard of one of our biggest tourism producers Brasil in 2014. Considering the environment for soccer in this country right now…USA is about to qualify for the world cup with huge television ratings….NBC just finished a deal carrying MLS games as well as many premier league games…and the MLS has recently announced wanting to add at least 4 teams by 2020….Can you describe how the exact timing of this move for Orlando city is really perfectly aligned for success considering the current soccer environment in the USA? BD: That’s exactly right. MLS has currently 19 teams and they just awarded New York with a franchise which will be the 20th but there are no MLS franchises in the southeastern United States. We are ripe, they (MLS) want to expand in the Southeast. The league itself has become widely successful and their model orlando green and yellow
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collaborate government with the business community and so on. We’ve accomplished a lot because people are willing to put their views aside and work together. As you can see, it is true leadership that understands the power of working together that is the driving force behind the rapid growth and impending expansion of Orlando City soccer. The unwavering sport from Mayor Dyer trickles down to the fans at the games who already bleed Purple and are looking to add Orlando to the national stage. We look forward to continue to watch these exciting developments and will be following up with Mayor Dyer as soon as word comes in. We would like to thank the mayor again for his time as well as Multicultural affairs director Luis Martinez for arranging our time. You can view this interview in it’s entirety on you tube. The entire interview can be viewed on youtube. is to have smaller, urban stadiums 18-24,000 seats. Three teams have recently moved from minor league status and have achieved 100% sell through and Orlando City has had the highest attendance..in fact beating some of the MLS teams already. The other thing is, soccer has become the second most popular sport in the United States among the under-24 age groups. And, Central Florida has such a diverse population...many being international and come from countries that really embrace soccer which will help as well. And Central Florida has the 2nd most youth participants in soccer in the United States. OGY: You were recently in Cincinnati, OH meeting to try and lure the Fraternal order of Police Biennial convention here to Orlando in 2017…competing with other cities like Nashville. How does adding a another major league sports team to the area help add to your arsenal so to speak when discussing the benefits of Orlando and how do you think it 26 orlando
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will help in the future? BD: It does in a variety of ways. First, its quality of life for our residents by having more amenities and more offerings for them. Also, having a second major league sports franchise adds to the panache of your city and then it’s another offering when a tourist is making a decision on where to visit. OGY: You are creating quite a legacy here in Orlando with many exciting changes happening within Orlando as a whole…and the sports community. UCF has added a new stadium and medical city and has joined a higher tiered conference..go Knights tonight…. the Orlando Magic has the incredible AMWAY center now….and soon Orlando City should have a new home under your watch….is there a sense of accomplishment and pride associated with these magnificent changes for you and your team? BD: I think for the city and the region we have learned to collaborate. We are not the capital of Florida but we are the capital of collaboration. We have had success by being able to
Profile
Sean Slack Sean Slack is the President and Owner of Marquis International, a tourism consulting firm with offices in Orlando and Bahia, Brazil. Sean specializes in helping American businesses around the country harness the power of the tourism industry by employing strategies from his vast network of contacts and relationships overseas…primarily from Brazil. He also performs seminars and workshops for corporations seeking to develop tourism sales and is a known authority in the Orlando marketplace on this subject. He writes for a couple of Brazilian magazines regularly and is a proud father of five children and has been married for 17 years to his best friend Tracey.
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HOT SPOT
CFBACC News In the month of August CFBACC was already at full power with preparations and the organizaton of the First Brazilian Business Expo and Independence Day Celebration, an event that has been anticipated by the Community and it has been sold out only a month after it was announced, promising it will be a great event for all to enjoy. By Laiz Rodrigues
CFBACC is one more time creating the largest networking event for the Brazilian Community in Central Florida. The event is sponsored By Bright House Networks, Crowne Plaza Orlando Universal, Moneycorp, OUC, Walt Disney World Parks & Resorts, and New York Life. During the month of August CFBACC had a great breakfast speaker, Attorney Craig A. Minegar a shareholder with Winderweedle, Haines, Ward and Woodman, practicing in 28 orlando
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the firm’s Winter Park office. He represents clients in connection with real estate matters, and gave attendants as great overview about Commercial and Residential Real Estate. Later in the month CFBACC had a Business after hours at Pirate’s-Treasure Tavern with more than 50 attendants, networking and having fun in a great atmosphere. Pirate’s General Manager Tony Cardoso ( In the Photo with CFBACC Director Laiz Rodrigues) gave CFBACC the opportunity of networking in a great event.
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