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How did Zell get started? Most business tycoons on Forbes’ list of billionaires have to start somewhere. Zell started out renting homes to students and friends at the University of Michigan while attending law school. He bought and sold distressed property during the crises in the 80s. He eventually owned over 225,000 properties throughout the United States. He was born to Jewish immigrants from Poland that moved to the United States right before the Nazi invasion in 1939.

According to different sources there is a housing deficit of somewhere in the neighborhood of 7-9 million homes in Brazil. This year the Brazilian Government lauched a program called Minha Casa, Mihna Vida (My House, My Life). It has plans to subsidize and finance the construstion of 1 million homes for poor and lower middle class families. Brazil historically has high interest rates, but in recent years rates has come down significantly to around 9%.

Real estate companies in Brazil are taking advantage of this growing market. Giants like Lopes and Brasil Brokers, two of the largest real estate brokerages in the country have seen accelerated growth in recent years. In 2007, Brasil Brokers raised money on the Brazilian stock exchange and has been growing through acquisitions. Headquartered in Rio de Janeiro, they currently operate in 15 states throughout Brazil. The real estate franchise model is not as prevelant in Brazil as the United States or Europe, but Century 21 recently set up shop in Sao Paulo and has goals of growing to 1000 offices in the next decade. Lopes, one of the oldest real estate companies in all of Brazil has been growing its profits at a fast pace. Lopes posted Pro-forma Net Income of R$17.5 million (~$10 million USD) in 3Q09, increasing by 61% over 2Q09 and by 66% in relation to 3Q08. The company recently signed an agreement with online real estate marketplace VivaReal, to begin commercializing new construction projects as well as properties listed by its franchise arm Pronto Imoveis. VivaReal is founded by Brian Requarth, Web entrepreneur from California. The company is focused on building the largest marketplace for buying and selling real estate in the country. Having launched in May 2009, they are off to a good start with a few hundred thousand home buyers using its site to find properties throughout Brazil on a monthly basis. VivaReal is going after the +$1 billion that is spent on real estate advertising in traditional media in Brazil each year. With increased investments in real estate and more internet users than Germany, the company has a lot of room to grow.

With the recent announcement that Brazil will host the Olympic games in 2016 coupled with the World Cup in 2014, all eyes are on this emerging country with incredible potential. Some have compared Brazil’s current status right now to the United States in the 1950s. With a AAA rating from several major credit rating institutions and outstanding press from publications like The Economist, investors like Zell are counting on big returns in Brazil.

Diego Rivera was arguably one of the greatest and most renowned Mexican and World wide artists of the 20th Century.  For at least sixty years, Dolores (“Lola”) Olmedo did not have the slightest doubt about who the greatest painter of the twentieth century was. While in the USSR in the 1950s, Diego Rivera often sent Dolores Olmedo love letters and notes, one of which he translated into a mural that spans the entire ceiling of his studio that she had specifically constructed for him on her estate in Acapulco. Following his surgery, and treatment for prostate cancer in late 1955 in the USSR, Olmedo invited him to recuperate at her Acapulco vacation estate, House of the Winds, which she had purchased in 1951. In the 18 short months before his death he had created 5 large murals, 24 sunset paintings, and numerous lithographs of Dolores’s children. These priceless works of art were his way of showing his lifelong friend and patron just how much he appreciated her generosity, friendship and love at that time and throughout the years.

Now 7 years after Dolores’ passing the private estate is being offered for sale by the family. Never before has there been such a unique opportunity to own Diego Rivera Murals, no to mention on such a magnificent private property which overlooks the famous La Quebrada cliffs on the Pacific side in Acapulco.

The facade of Exekatlkalli (House of the Winds) features the rarest of murals created by Mexico’s most important and influential artist and muralist of the Twentieth Century, Diego Rivera. Rare and unique because they all relay unique messages that relate to the naming of the estate~ House Of The Winds. Rare because they are the last ones he completed before his death in 1957. And rare because they are the only Diego Rivera murals to exist on privately owned land in the entire world. House of the Winds not only possesses the facade murals, which draw thousands of art enthusiasts from around the globe each year, but also three additional murals located in the maestro’s studio – two gracing the exterior patio and one covering the entire ceiling of his studio. These registered historic landmarks were created in 18 months from 1955 to 1957, in which time Rivera also painted 24 the famous stunning sunset scenes and produced numerous lithographs of Dolores Olmedo’s children. Sitting in the magnificent room where Diego painted and enjoyed his days with his dear friend Dolores, you can feel the history still lives in this home and the studio.

ABOUT DIEGO RIVERA

Diego was a leader in the Mexican mural movement believing art should serve the working people, not just the wealthy and so he became interested in frescos where he took the art outdoors where everyone could enjoy them. Diego represented the working class people, painting murals on public buildings with narratives of the story and history of his native country.

One of his first Murals in Mexico was a work at the National Preparatory School in 1922, at which time Frida Kahlo was a student there. He went on to paint a series of frescos for the Ministry of Education, and one at the National Agriculture School. He worked in a modernist artistic style and is best known for his powerful, politically charged public murals painted on the architecture and walls of Mexico and the United States. He is one of “Los Tress Grandes” of Mexican modernism, along with Josè Clemente Orzoco and David Alfaro Siqueiros creating artwork with revolutionary, politically leftist themes.  Diego was both talented and politically controversial, refusing to separate his political message from his work. He was more socialist while Siqueiros was an open communist.

ABOUT DOLORES OLMEDO

Savvy businesswoman, art collector and socialite are synonymous with the name Dolores Olmedo Patiño. She was a loving mother who raised four wonderful children, as well as a great philanthropist who loved her native country.

Dolores was born in 1908 in Chilpancingo, Guerrero, Mexico to Maria Patiño Suarez who was a professor and Manuel Olmedo Mayagoitia, a businessman. She would go on to become an educated woman who, not only amassed the largest collection of pre-Columbian artifacts, but also turned a brick factory, on the edge of extinction, into the largest construction firm in Latin America. This in itself was an incredible accomplishment during the 1940s for a young Mexican woman: A time when men ruled and women in the workforce were virtually unheard of. This experience was perhaps what made her a respected no-nonsense businesswoman who always went after what she wanted and, more often than not, got it.

Dolores Olmedos first marriage was to Howard S. Phillips, a naturalized Briton who decided to remain in Mexico after reporting on the Mexican Revolution. This marriage – her longest – produced three sons and one daughter. Her four children each went on to achieve success in their own right; Alfredo Phillips Olmedo was appointed Mexican Ambassador to both Canada and Japan, served in Congress, and was Chief Executive of the North American Development Bank; Eduardo Phillips Olmedo is a prominent cybernetic engineer and project manager who worked for Kodak, Renault & American Motors Company and is credited for creating the computer systems and networks for the Mexican Finance Ministry; Irene Phillips Olmedo is a talented professional and highly regarded celebrity in México City;  Carlos Phillips Olmedo currently handles the historical and cultural landmark museums (Casa Azul, The Anahuacalli, and La Noria) bequeathed by his mother to the People of Mexico.
“Casa Azul” (The Blue House) in Coyoacán is now a museum dedicated to artist Frida Kahlo. It is the home where she was born, where she spent her whole life – with her family and then with husband, Diego Rivera – and eventually died in.

“The Anahuacalli Museo” (Mexico City Valley House) was the home in which Diego Rivera lived in Mexico City. It was transformed into a tribute/museum to the artist in 1963 by Dolores Olmedo and opened to the public in 1964. His vision was to create a “City of the Arts” in a pyramid shaped structure with an atmosphere where music, theatre, crafts and dance could be enjoyed by everyone. “La Noria” (The Well) in Xochimilco is a spectacular 16th Century monastery where Dolores Olmedo resided and eventually restored and created the Museo Dolores Olmedo. This historic property is home to the largest collection of original works by Diego Rivera – 143 pieces including 24 sunset paintings created from his favorite chair as he gazed out over the Pacific Ocean from the living room of House of the Winds in Acapulco. A bronze likeness of Rivera greets La Noria’s worldwide visitors. Immaculate grounds are roamed by graceful peacocks as do eighteen Xoloitzcuintle – the beloved rare hairless breed that Dolores Olmedo was very fond of. Giving La Noria to the people of Mexico was an extremely generous gift to Mexico, and to visitors worldwide, as the artwork and artifacts it houses span more than 400 years of history and worth hundreds of millions of dollars. This generosity was perhaps a life quest that was set into motion when her mother, Maria Patiño Suarez told her daughter, “Share all that you have with other people”.

Despite the focus on her social status, along with her philanthropy work, art and artifact collections, and business dealings, one can hardly mention Dolores Olmedo without mentioning Diego Rivera as well. Perhaps it is because her museum houses the largest Diego Rivera collection (with thousands of smaller items such as letters, notes, etc. not on display yet) – or the fact that Rivera named her “Custodian of his Art” upon his death. Or maybe it’s because he adorned her Acapulco estate, House of the Winds, with five grand murals while he was her houseguest from 1955 to 1957. Whatever the reason, the two had become life-long friends after a meeting when she was 12 years old.

Just when Diego Rivera returned from U.S.S.R. in 1956 and being already in Acapulco, he portrayed on the studio the letter that he sent to Lola who was in Europe:  “From the land of peace the artist toad flew through the clouds to deliver its palette and its heart to its beloved”.  The letter to Lola Olmedo is represented on the ceiling of the studio by a dove; the land of peace is represented by the hammer and sickle (U.S.S.R.); there is a plane, fish, the toad (symbol of Diego Rivera) and the heart (Dolores Olmedo) with four stars (her children).

“House of The Winds” estate has a total of 9,746 square feet of living space between the home and studio. The estate is host to Diego Rivera Studio Acapulco, a freestanding building within the compound. The pool and grounds are dense with tropical foliage, huge windows, magnificent vistas, and spectacular decks overlooking the Pacific Ocean, La Quebrada cliff diving platform, and the yacht club harbor hosting the Acapulco Marina.

This property is a cultural landmark and represents a unique opportunity to acquire major Diego Rivera murals. To learn more about this unique offering please visit (bi lingual website) www.houseofthewinds.com or contact Heidi Wosak of Century 21 Sun & Sand. heidiwosak@century21penasco.com

Planning a trip to Mexico can be stressful unless you know exactly where you’re going and what you need to do before you get there. Trip planning is not just about flight details, hotel reservations, restaurant choices and local attractions; there are other important things to consider before you leave home. Traveling through Mexico is an exciting adventure, but it can turn into a costly, risky nightmare if you don’t exchange currency before you leave home. Mexican police added more patrols in Mexico City’s Airport last year, because thieves were attacking arriving tourists immediately after they exchange their currency for Pesos. Not only did the tourists pay a higher rate to exchange money in the airport, they risked their own safety to do it.

Internet currency exchange sites are not much better.

Some travelers do make an effort to exchange currency for Pesos on the Internet before they leave home, but they do it without researching the currency market first. Websites like Western Union, Travelex, Wells Fargo and Bank of America are all known for money transactions, but the fees they charge for these transactions can be as high as 23%. For every $1000 you exchange you pay up to $230 in extra fees, which means you have 77% of your budget left for trip expenses.

The value of the Peso is always fluctuating, so unless you follow the currency trading market consistently, meaning every hour, chances are you’re going to blow part of your budget on a phony Internet exchange rate. Visa, MasterCard and American Express will exchange your currency to Pesos online, but not without adding a hefty profit to each transaction. They also add a fee to each credit card purchase while you’re visiting Mexico.

What strategy can I use to save money when I exchange currency for Pesos?

Veteran traveler’s do research and asks questions before they start exchanging money, especially if they’re using the Internet. The first question to ask is: Who is promoting the Internet exchange site? If it’s a financial institution, you can bet they are making a nice profit on each exchange. The next question is: Does the website offer good advice about exchanging currency? Some websites offer you advice based on inaccurate research, or the information is based on personal experiences, which may not apply to your situation. The third question is: Is the advice real time advice, or is it outdated information? Some websites post information that no longer applies to current currency exchange facts and figures.

The two most important things you need to know in order to exchange currency and save money in the process is the current rate for your exchange pair and where to get that rate. In other words, if you’re exchanging American Dollars for Mexican Pesos, you want to know what the actual exchange value is for that pair at the time you make an exchange. A professional currency broker can give you that information. The next thing you need to know is where you can get that rate of exchange. Once again, a currency broker will exchange your currency using a real time rate and will notify you when the market fluctuates, so you can take advantage of the natural movement in the market. A currency broker will help you average your exchanges before you leave home, so you avoid a sudden surge in the value of the Peso. A currency broker does make a couple of points on each transaction, but you will save money when you use one. If you have Internet access once you arrive in Mexico, you can continue to exchange your currency with a broker quickly and efficiently.

Saving money when you exchange currency will give you more money to spend on the things that count, like duty free souvenirs or that sombrero you can’t live without.

ForexTraders.com wrote this article to help save you money before you travel to Mexico. To learn more about currencies and the several factors to consider when doing currency trading, such as; a country’s economy, undercapitalization, brokers, technical and fundamental analysis etc, visit ForexTraders.com.

Flickr photo by Lucy Nieto

A vacation in another country is always an exciting thought. Planning a trip to any or several Latin American countries takes patience and research. Finding the right hotel, special attractions and good restaurants can be an issue, especially if you’re traveling to smaller cities like Merida in Mexico to check out the Mayan Temples. The vacation budget is the travel gospel for most people unless they just won the lottery and the currency exchange market gives it credibility, if you exchange money wisely. Waiting until the last minute to exchange U.S. Dollars for Reals for a trip to Brazil can be a budget nightmare. The global market is constantly changing and if the Dollar just moves 1000 points over the course of a few days, it will cost you $100 for every $1000 you exchange. Getting that news when you arrive at airport in Rio is a not only a budget breaker, it’s a wake up call.

Seasoned travelers exchange small amounts of money while they’re planning the trip. By exchanging small amounts of money at different times before the trip you can average your exchanges to protect yourself from sudden currency shifts. You also know what each exchange costs, so you can build a budget on facts not fiction. Averaging also protects you from sudden surges that can happen to currencies like the Brazilian Real. The Real can increase in value overnight and destroy a vacation in a matter of hours, unless you have been averaging your exchanges with a reliable currency trader.

Where should I ?

Most of us believe that a bank will give us the best rate of exchange, but banks add a fee to every exchange and they may only post one or two rates a day. The currency market changes every hour, so you may not get a real time rate. Credit card companies adore you if you use their services when traveling. They use their own rate which includes a built-in profit and they add a surcharge on every holiday purchase, so you don’t know what the trip costs until you get the statement. Airport currency traders may add a hidden fee to the rate which means you have fewer dollars to spend on the trip. A reliable currency trader can help you average your exchanges while you’re planning the trip. A profession will give you a real time rate so you avoid excess fees, surcharges and bogus rates that destroy your budget.

Other travel thoughts

Always carry cash in a money belt or a hidden pocket that’s secure and out of sight. Wallets and purses are easy targets, so just carry a little cash in them for travel incidentals Hotel safes and other security measures should be used when you arrive and common sense is your best security tool if you use it. Some countries limit the amount of cash you can carry through customs. If a random custom search finds you exceed that limit, your money could be confiscated.

Sueli Pacheco is one of several highly respected real estate professionals from Sao Paulo whom believe that the worldwide economic crisis has indeed exerted great downward pressure on the Brazilian real estate market but nonetheless claim that the Brazilian real estate sector is strong enough to continue to grow; “simply at a slower more sustainable rate,” believes Mrs. Pacheco who says that:

“We expect this second semester to perform quite well. Key indicators show real estate appreciation will continue its upward path; just not as accelerated as before…”

The Worldwide Economic Crisis Is Having Very Little Effect On Both Brazil’s Residential as well as Commercial Real Estate Markets

Other very reputable professionals such as Celso Kocinas, Owner/Director of Zylber Assessoria Imobiliária — whose focus is primarily on the commercial real estate sector — tell us that Brazil is in very good shape right now. Even more astonishing is the belief that it is expected to continue to be that way.

“Demand for commercial real estate (stores, shops, offices, etc.) is extremely high right now. Property value and appreciation has been significant and rental rates are high. The real estate sector in Perdizes for example [a neighborhood in Sao Paulo] is very strong regardless of the economic crisis or the falling US dollar.” claims Mr. Kocinas who further says that:

“Everyone is looking to rent commercial property. If I had a handful of shops to rent out right now I could rent them out very quickly.”

So Where is all This Upward Pressure Coming From?

The downward pressure on Brazil’s real estate sector is definitely a consequence of worldwide economic turmoil, but where is the upward pressure coming from? Why do real estate professionals such as Mrs. Pacheco and Mr. Kocinas think so highly of this market?

* The Brazilian government is making major investments in infrastructure.
* Brazil’s Central Bank is continuing to lower interest rates.
* Brazil is continuing to see strong growth throughout the construction sector.
* The Brazilian government has raised the lending cap for Brazilian workers which are buying homes through government backed programs.
* In the past couple of years we have seen more and more real estate trust funds (REITs) enter the Brazilian market.
* Tourism in Brazil is flourishing.
* The government has made great strides in reducing the red tape associated with foreign investment in Brazil’s real estate sector.
* Big name real estate internet portals have begun paying attention to Brazil thus giving the market even more foreign as well as domestic exposure.

Conclusion

Key economic indicators as well as the testimony of respected real estate professionals such as Celso Kocinas and Sueli Pacheco make Brazil’s real estate market seem highly shielded against the current global recession. The accelerated way in which the Brazilian real estate market over performed for the past couple of years may indeed slow down, but it is highly unlikely that it will come to a halt.

Brazil skyline photo kindly provided by flickr

Ricardo Matrone, Show Manager of SISP

Ricardo Matrone: The economic crisis in August of last year affected the strongest markets in the United States, Europe and numerous Asian markets. Brazil was also affected, but the scope of the crisis was not as broad as other markets. The crisis was primarily among banks that provide loans to builders resulting in a more superficial economic downturn. Despite the tougher environment, Brazil is still a growing market with a housing deficit providing great opportunity for businesses, entrepreneurs and investors. These types of opportunities are difficult to find in today’s current economic climate. Investors interested in the Brazilian market have the opportunity to come here and forge partnerships with companies that know the local market, but need financial support. There are many companies throughout Brazil, especially in the interior of São Paulo and the Northeast who have knowledge of the market, they know and understand what can be done to execute a successful venture, however, they need investors and partners.

Before the economic crisis investors had a lot of different options for places to put their money, but with the current situation investors look to emerging opportunities and Brazil has been identified as one of those countries, whether it be partnering up with an existing company or launching your own venture. This is the vision that we have in our planning, media and promotion of the Salão Imobiliário (Real Estate Expo) also known as “Property Week”. We want the event to resonate with important investors coming from outside of Brazil so they don’t lose out on the business opportunities presented during this action packed event. So far there is great interest, mainly coming from the U.S. through broker associations in Florida and other states that have closely worked with large Brazilian companies through partnerships in the past making them more connected to the opportunity. We just want to make sure that others are aware of this event so they can participate as an exhibitor or an investor.

LatinWorld: Are you also interested in attracting attendees and exhibitors from the rest of Latin America?

Ricardo Matrone: The São Paulo Real Estate Expo has positioned itself as the largest event of its kind in Latin America and it continues to grow in popularity. Not only are investors interested in Brasil, but they are also looking at other countries in Latin America. For example, companies in Uruguay, Argentina, Chile and Costa Rica were present last year as exhibitors showing their products to investors from the U.S., Europe and even Asia. So this event is not only about Brasil, but other parts of the region as well. On the other side of the coin there is a growing interest and a strong representation of projects in the state of Catarina in southern Brazil. You’ll see comercial and residential projects and in many cases there are Argentines that look to buy a secon home or investment do to the proximity to country.

Find out more about SISP clicking HERE

Pipi’s Restaurant and Bar

If you are looking for a great place to have a nice meal on the water, this is a place you want to check out. The Braised Pork Shank on a bed of pureed plantains is pretty darn tasty. The view makes the food taste even better. Margaritas watching the sunset make for a guaranteed good time.

Pricey, but really fine dining

Cafe Artistes is a very charming, high end restaurant that is a great place to celebrate something special. The food is exquisite, but does come at a price. They have the option of choosing a fixed price menu of 3, 4 or 5 courses.

What’s your favorite restaurant?

Photo from http://www.flickr.com/photos/queen_of_subtle

If you want more information about Puerto Vallarta or Nayarit, you can check out those two resources or if you have related websites you can add them.

Another cool thing about Bogota on Sundays is “la ciclovia.” The main roads are closed for people to walk or bike on.

As far as going out to dinner, I have several restaurants that I really like:

Osaki is a one of my favorite Sushi spots in Bogota. There aren’t a lot of great places to go for Sushi like in San Francisco, but this place is worth checking out. I haven’t tried all the rolls, but I feel like I’m about 90% on picking winners (I like those odds!). Also, try the brownie, banana flambe for desert. You won’t regret it.

Info:

Osaki Sushi

Cll. 118 # 6a-05

2133046

7037827
Sometimes I miss a really good hamburger. Fortunately I have two fall back places, El Corral Gourmet (close to Usaquen) and La Hamburgueseria. They are both equally good. They both come with really good sauces.

Info:

El Corral Gourmet

Centro Comercial Santa Ana, Local 303 (Calle 110 cra 7)

6378650

If you are looking for an upscale place to spoil your significant other, try Cafe Amarti…tasty Italian food and a huge selection of wines. It is a charming, but rustic atmosphere in an old colonial house. To start you off they bring this big round hollow bread dome. They have some of the best kalamata olives that go well with the bread-head. I have only been here once so I am not that familiar with the different dishes, but it all looks pretty good.

Info:

Cafe Amarti

Calle 119 # 6-24

2149017

So if you are in Bogota on the weekend, Usaquen is definitely a place worth checking out.

Where’s your favorite place to eat in Bogota?

Picture by http://www.flickr.com/photos/kozumel/

LW: When people decide to move to Baja California, they either buy a place or rent a place, what are retirees doing with most of their time?

It starts out in the ocean, people are in fishing boats or yachts, the ocean is the draw, that’s why people are coming. Then, if you come in closer to the shore there’s waves, surfers are surfing. We’ve got good surf. Then you get to the sand and people like me that can’t surf, I enjoy walking on the beach, enjoying the sun, the calm of being able to sit by the ocean and hear the waves. We go in further and there’s the Mexican cuisine, the restaurants, there’s entertainment in town through the local restaurants and saloons that have local entertainment. There is also Guadalupe Valley, which is comprarable to Napa Valley in California. You drive into this valley, which is not far, about 20 minutes from Ensenada and it looks like what you are seeing is miles and miles of grapevines. They have some world award winning wineries there that are just wonderful to go and to have lunch and do wine tasting if you like wine. We have a huge off-road population that come to our area to participate in some of these off-road motorcycle, truck and car events like the Baja 1000, the most famous one. This event brings about 300,000 people into Baja. There’s art galleries, there’s shopping and restaurants. There is an expatriate community that has things that are especially devoted to English speaking people; bingo, card games and clubs. There are people that are very involved in charity. There is a lot of charity work that needs to and is being done here and so some people involve themselves in that aspect of the culture.

LW: How big is the expat community in Rosarito?

The estimate is 15,000 out of 150,000 census and the Mexican State Department figures it’s about 1 million people in Mexico that are American citizens.

LW: What do you think the trend will be like in the next 5-10 years considering the amount of baby boomers in the United States?

It is an ideal place for baby boomers because of the continued migration of people coming here from the United States that allows us to have a multi-cultural environment. People are finding themselves more at home coming into Mexico. The proximity to the United States makes it so enjoyable for people to come down here to vacation and to live.