NobsProject - Real Estate Development at Nobullshit Network Forum

**Jude** · 09-16-2007, 03:32 PM

I have informed our email list readers on the possible real estate project that I might champion and the response was really good.

Alot of suggestions were taken into consideration as well. Since its a Nobs Project, we'll have this thread as our official channel for interaction, with the blog for announcement on the follow ups, and with the mailing list to announce private opportunities like these ones.

And if you haven't sign up for our new Aweber mailing list. It's time to do so here.

grateful · 09-26-2007, 07:17 PM

I posted the article from your blog at PH, and hope you will keep us in the loop. We are all in this together - - real estate ventures are and will always be, a time tested true growth opportunity.

**Jude** · 09-28-2007, 07:05 AM

I saw your comment too grateful, thank you for publicizing this one for us

The initial stage will be hard, but hopefully things go smoothly and we get to keep pieces of Bulgaria or at least benefit from the sales of development!

**gaby** · 09-28-2007, 04:01 PM

Quote:

Originally Posted by Jude

and we get to keep pieces of Bulgaria

keep in mind that as far as foreigners are concerned only companies are allowed to own land (url:http://www.land-in-bulgaria.com/purchase.php)..

But everything will be handled by formed companies, i gather, anyway ..

**Jude** · 09-28-2007, 07:48 PM

Thanks Gab

peteuk · 10-19-2007, 04:52 AM

Hi Jude,

I’ll be interested to see how this goes for you as I’m in the early stages of organising something similar myself.

One of my friends moved to North East Brazil a while back and he’s been buying up small plots of land in an up and coming area with a view to either developing them or selling them on at a later date.

The returns are similar to Bulgaria.

I was chatting to him on the phone about putting together an investment opportunity using pooled funds with a 12 - 24 month time frame and he’s giving it some serious thought.

If the funds are pooled into an IBC and bank account, then only the offshore entity is dealing with the land agents, solicitors etc. Once the deal is closed and profit realised the company can then divi out the returns to all the investors.

I think the only requirement would be for the IBC to demonstrate it had made an effort to, “Know their customer.” If the company is incorporated somewhere like Belize, then it will be able to operate tax free. The individual investors will be responsible for declaring their own gains for tax purposes.

I can’t see why it should be any more complicated than that.

Regards,

Pete

**allinvain** · 10-19-2007, 08:11 AM

Pete it's not that simple. To accept outside or "third party" funds the IBC would have to have a financial services license. I think the way around that would be to simply use "loans". Another method would be to use a Nevis LLC and have each investor become a member of the LLC which is hybrid between a Limited Liability Partership and a Corporation.

Anyways, just my two cents.

peteuk · 10-19-2007, 01:33 PM

Quote:

Originally Posted by allinvain

Pete it's not that simple. To accept outside or "third party" funds the IBC would have to have a financial services license. I think the way around that would be to simply use "loans". Another method would be to use a Nevis LLC and have each investor become a member of the LLC which is hybrid between a Limited Liability Partership and a Corporation.

Anyways, just my two cents.

Hi Allin,

Thanks for your reply.

I've looked at LLP's, but I've always thought they were a bit fiddly and would put people off. Probably private loans would be the way to go in that case.

If you have discover anything with your reasearch on how best to proceed I'd appreciate it if you would post your findings.

Regards,

Pete

**allinvain** · 10-19-2007, 01:45 PM

Quote:

Originally Posted by peteuk

Hi Allin,

Thanks for your reply.

I've looked at LLP's, but I've always thought they were a bit fiddly and would put people off. Probably private loans would be the way to go in that case.

If you have discover anything with your reasearch on how best to proceed I'd appreciate it if you would post your findings.

Regards,

Pete

I agree, some people would be put off by having to become a member of an offshore LLC or an onshore LLP and whatnot.

It all depends if you want to keep this strictly "onshore" or offshore. I'm not sure where you're located but if you're located in the United States and you were to take third party deposits and invest that in real estate deals that would constitute selling unlicensed securities from my limited knowledge.

Perhaps you may want to look into REITs (Real Estate Investment Trusts)

Real estate investment trust - Wikipedia, the free encyclopedia

I'd suggest you consult with a corporate lawyer or company formation specialist on that matter.

A completely tax free option would be to setup an IBC and acquire a financial services license (I think Panama offers such a financial license for a pretty small fee).

You mentioned that these real estate deals would be happening in Brazil so just maybe (after you consult a specialist) an IBC + proper financial services license would be a good way to go. This would allow you to take in third party funds easily.

Once again the disclaimer is that I'm not a 'licensed professional" and you should of course try to find one to get some advice.

Take care

peteuk · 10-20-2007, 01:36 PM

That's great, you've given me something to work on there

Thanks

Pete