Great Airbnb rental in Palermo

[ravingnomad]

Nah that will never happen in Argentina. Property rights are actually very respected here. Never heard of any foreigners ever having issues. Although a few friends went through a hassle when they sold a few years ago. They had to get a permit to sell. Took a few months. But I am told Milei got rid of that first thing when he got elected.

Right, and to be honest, I initially had those fears too, as well as about social unrest, but as I learned more and more about the workings of the country and gov't, I came to realize that those fears were unfounded. Anyhow, like anything worthwhile in life with the potential for big returns, it can be scary if you aren't informed and just look at things superficially.

 

[VINO]

That is a big hurdle for many people dealing with actual cash. But it is not really an issue if you are using reputable firms. It is not like you are walking around with $100 bills. You just negotiate to do the closing at your bank. When I bought my apartment I did have to pay with actual cash but I wasn't carrying it around.


I also know a few people that had to get permits. They all got them without a problem. It just took time. The worst thing is that my friend didn't rent out his apartment. He just used it a few times a year and kept it empty. When he sold it they asked for every copy of his passport since he owned the place. His passport renewed since then and he didn't have the previous ones. And they made him pay some taxes on some of the years. It was a sh*t show.

Now they probably have all of that automated but the permit was eliminated. Never ever heard of any foreigner having problems. Property rights here are sacred. The government (even the K's) know if they ever did anything no foreign investor or company would ever invest in Argentina again.

That permit process was terrible! My friend went through that when she sold her apartment in Recoleta a few years ago. Her friend was staying in it. She didn't charge her any rent. But part of the permit process was you had to show the last 12 months electricity bill and if they saw usage they assumed you were renting it even if you were not! She tried arguing with them. In the end she just had to pay some minimal tax as if she rented it. But she was angry about that.

Now they don't make you do anything which is great.

 

[JonJLA]

Right, and to be honest, I initially had those fears too, as well as about social unrest, but as I learned more and more about the workings of the country and gov't, I came to realize that those fears were unfounded. Anyhow, like anything worthwhile in life with the potential for big returns, it can be scary if you aren't informed and just look at things superficially.

I had the same worries when I bought way back in 2003. I bought into 2 off plan units and this was right after the devastating devaluation in 2002. No foreigners were really buying or investing in Argentina except for @BuySellBA. At the time it was ApartmentsBA but the same team in place. I came down to investigate and stayed in one of his apartments and he explained all the laws and how property rights have always been respected.

He knew a lot of people already by then in BA and he befriended a lot of politicians. I remember in his Recoleta office he had a picture of him and the recent outgoing President that had just resigned a few years earlier, Fernando de la Rúa. That told me everything I needed to know. That he had done his research and knew the right people.

He told me real estate was a coveted asset and that all the politicians and wealthy use real estate as their safe savings account and that after the bank run everyone would go into real estate to protect their savings and didn't trust banks. That is exactly what happened. I watched as Cristina Kichner started buying up many properties, hotels, buildings. He was right.

It is just like you said @ravingnomad. Most people are scared of investing outside of their country. And that is ok but for outsized returns sometimes you have to do what no one else is doing. Not for everyone but it sure worked out for me.

 

[Cheap Bastard]

That permit process was terrible! My friend went through that when she sold her apartment in Recoleta a few years ago. Her friend was staying in it. She didn't charge her any rent. But part of the permit process was you had to show the last 12 months electricity bill and if they saw usage they assumed you were renting it even if you were not! She tried arguing with them. In the end she just had to pay some minimal tax as if she rented it. But she was angry about that.

Now they don't make you do anything which is great.

That sounds terrible! So your friend had to pay taxes on income she didn't owe?

 

[earlyretirement]

I was in Guadalajara many years ago just on a guys trip to Mexico with our other friend and I saw how great his place was. He was going down to close on another new place and I asked to tag along. I ended up buying in that development and now I just closed on the apartment next to his. I'm so happy. We will all have to meet up some time.

The story of @Johnny buying his first property in Guadalajara is hilarious! So we go down for a guy's trip down to my property as I do once a year. I had met Johnny a long time ago at a party but didn't know him too well. Once we became good friends we started spending more time together and I invited him down to party at my place in GDL. Mind you, I NEVER talk about buying real estate with my friends. They all know I'm big into it but I actually don't like mixing business with friendships.

So we are having fun and he just told me he was coming down. Well, I already owned my first apartment there:

Condo in Zapopan · ★4.99 · 3 bedrooms · 4 beds · 3.5 baths

❤️Ultra Luxurious 3 Bedroom w/ 3.5 Bath 5 STAR❤️

airbnb.com

But I bought another off-plan apartment. He asked if he could go see it so I say sure. We are walking over (it's a block away) and then all of a sudden he says, "Mike I'm in!". I didn't know what he was talking about. We had never discussed him buying anything. I ask him, "what are you talking about Johnny" and he says I want one too. So that was my first experience with Johnny buying an apartment with me. Mind you, we aren't talking about some cheap apartment. I'm sure Johnny won't mind me sharing this but this was a $400,000+ USD property. I asked him which one he wanted and he just says, "I want the same floor plan you bought". 🤣

The rest is history. I sold mine last year as I experienced a lot of capital appreciation so Johnny also sold his and amazing that he bought the apartment next to mine so we are neighbors. It's one of my all time favorite memories.

I think with @ravingnomad I was at a lunch and he heard me talking on the phone with Johnny as Johnny found out I bought a few units in an off-plan pozo building and he said he wanted to buy one too. So @ravingnomad then asked if he could also buy one. Typically I never like mixing friendship with business but it's been amazing mixing business with friendships in these cases.

Why is it that there aren't many 3 bedroom apartments in Buenos Aires? It's clever how you made this 3 bedroom using 2 apartments but is there a reason why developers don't make more 3 or 4 bedroom units?

Most people in Buenos Aires don't have the money for a 3 bedroom or larger so the developers, especially the last decade have focused on what will sell and move. But now because there aren't many bigger properties the larger ones are sought out as they are hard to find in newer buildings.

I had the same worries when I bought way back in 2003. I bought into 2 off plan units and this was right after the devastating devaluation in 2002. No foreigners were really buying or investing in Argentina except for @BuySellBA. At the time it was ApartmentsBA but the same team in place. I came down to investigate and stayed in one of his apartments and he explained all the laws and how property rights have always been respected.

He knew a lot of people already by then in BA and he befriended a lot of politicians. I remember in his Recoleta office he had a picture of him and the recent outgoing President that had just resigned a few years earlier, Fernando de la Rúa. That told me everything I needed to know. That he had done his research and knew the right people.

He told me real estate was a coveted asset and that all the politicians and wealthy use real estate as their safe savings account and that after the bank run everyone would go into real estate to protect their savings and didn't trust banks. That is exactly what happened. I watched as Cristina Kichner started buying up many properties, hotels, buildings. He was right.

It is just like you said @ravingnomad. Most people are scared of investing outside of their country. And that is ok but for outsized returns sometimes you have to do what no one else is doing. Not for everyone but it sure worked out for me.

I still remember that! What great memories. Man, I feel old now because that was a LONG time ago. It's hard to believe how fast it all went but I was only 29 years old when I moved down to Buenos Aires to do my start-up. @JonJLA was one of my very first clients. A class act gentleman. I miss Fernando. He was a great and humble guy. He taught me many lessons. I've been through several Presidents in Argentina. De la Rua, Nestor Kirchner, Cristina Kirshner, Macri, Fernandez and Milei. The only one I didn't meet in person was Alberto Fernández.

Perhaps the one lesson that ex-President de la Rua told me was, "Michael they love you until they hate you". And that has been exactly what has happened so far with all of the Presidents in Argentina since my time doing business in Argentina. I once saw an old lady spit in the face of ex-President de la Rua in front of our office building. It was quite a sight to witness and one that I will never forget.

That sounds terrible! So your friend had to pay taxes on income she didn't owe?

It was really terrible under the Peronistas. They made things very difficult but not impossible. Because we structured things properly for our clients we never had any issues exiting for hundreds and hundreds of properties that we helped our clients/investors sell in 2017/2018 and over the years. We also got retained by hundreds more that didn't have good guidance but never once did we ever fail helping a foreigner selling that hired us and exiting out of Argentina. Property rights are very respected here and I don't ever see that changing.

 

[Uncle Wong]

The story of @Johnny buying his first property in Guadalajara is hilarious! So we go down for a guy's trip down to my property as I do once a year. I had met Johnny a long time ago at a party but didn't know him too well. Once we became good friends we started spending more time together and I invited him down to party at my place in GDL. Mind you, I NEVER talk about buying real estate with my friends. They all know I'm big into it but I actually don't like mixing business with friendships.

So we are having fun and he just told me he was coming down. Well, I already owned my first apartment there:

Condo in Zapopan · ★4.99 · 3 bedrooms · 4 beds · 3.5 baths

❤️Ultra Luxurious 3 Bedroom w/ 3.5 Bath 5 STAR❤️

airbnb.com

But I bought another off-plan apartment. He asked if he could go see it so I say sure. We are walking over (it's a block away) and then all of a sudden he says, "Mike I'm in!". I didn't know what he was talking about. We had never discussed him buying anything. I ask him, "what are you talking about Johnny" and he says I want one too. So that was my first experience with Johnny buying an apartment with me. Mind you, we aren't talking about some cheap apartment. I'm sure Johnny won't mind me sharing this but this was a $400,000+ USD property. I asked him which one he wanted and he just says, "I want the same floor plan you bought". 🤣

The rest is history. I sold mine last year as I experienced a lot of capital appreciation so Johnny also sold his and amazing that he bought the apartment next to mine so we are neighbors. It's one of my all time favorite memories.

I think with @ravingnomad I was at a lunch and he heard me talking on the phone with Johnny as Johnny found out I bought a few units in an off-plan pozo building and he said he wanted to buy one too. So @ravingnomad then asked if he could also buy one. Typically I never like mixing friendship with business but it's been amazing mixing business with friendships in these cases.


Most people in Buenos Aires don't have the money for a 3 bedroom or larger so the developers, especially the last decade have focused on what will sell and move. But now because there aren't many bigger properties the larger ones are sought out as they are hard to find in newer buildings.

I still remember that! What great memories. Man, I feel old now because that was a LONG time ago. It's hard to believe how fast it all went but I was only 29 years old when I moved down to Buenos Aires to do my start-up. @JonJLA was one of my very first clients. A class act gentleman. I miss Fernando. He was a great and humble guy. He taught me many lessons. I've been through several Presidents in Argentina. De la Rua, Nestor Kirchner, Cristina Kirshner, Macri, Fernandez and Milei. The only one I didn't meet in person was Alberto Fernández.

Perhaps the one lesson that ex-President de la Rua told me was, "Michael they love you until they hate you". And that has been exactly what has happened so far with all of the Presidents in Argentina since my time doing business in Argentina. I once saw an old lady spit in the face of ex-President de la Rua in front of our office building. It was quite a sight to witness and one that I will never forget.



It was really terrible under the Peronistas. They made things very difficult but not impossible. Because we structured things properly for our clients we never had any issues exiting for hundreds and hundreds of properties that we helped our clients/investors sell in 2017/2018 and over the years. We also got retained by hundreds more that didn't have good guidance but never once did we ever fail helping a foreigner selling that hired us and exiting out of Argentina. Property rights are very respected here and I don't ever see that changing.

Wow that story about Johnny buying is hilarious! I'd love to meet up with you guys if you are down in Buenos Aires. It sounds like you have some funny stories. Lunch is on me.

 

[retiredbanker]

The story of @Johnny buying his first property in Guadalajara is hilarious! So we go down for a guy's trip down to my property as I do once a year. I had met Johnny a long time ago at a party but didn't know him too well. Once we became good friends we started spending more time together and I invited him down to party at my place in GDL. Mind you, I NEVER talk about buying real estate with my friends. They all know I'm big into it but I actually don't like mixing business with friendships.

So we are having fun and he just told me he was coming down. Well, I already owned my first apartment there:

Condo in Zapopan · ★4.99 · 3 bedrooms · 4 beds · 3.5 baths

❤️Ultra Luxurious 3 Bedroom w/ 3.5 Bath 5 STAR❤️

airbnb.com

But I bought another off-plan apartment. He asked if he could go see it so I say sure. We are walking over (it's a block away) and then all of a sudden he says, "Mike I'm in!". I didn't know what he was talking about. We had never discussed him buying anything. I ask him, "what are you talking about Johnny" and he says I want one too. So that was my first experience with Johnny buying an apartment with me. Mind you, we aren't talking about some cheap apartment. I'm sure Johnny won't mind me sharing this but this was a $400,000+ USD property. I asked him which one he wanted and he just says, "I want the same floor plan you bought". 🤣

The rest is history. I sold mine last year as I experienced a lot of capital appreciation so Johnny also sold his and amazing that he bought the apartment next to mine so we are neighbors. It's one of my all time favorite memories.

I think with @ravingnomad I was at a lunch and he heard me talking on the phone with Johnny as Johnny found out I bought a few units in an off-plan pozo building and he said he wanted to buy one too. So @ravingnomad then asked if he could also buy one. Typically I never like mixing friendship with business but it's been amazing mixing business with friendships in these cases.


Most people in Buenos Aires don't have the money for a 3 bedroom or larger so the developers, especially the last decade have focused on what will sell and move. But now because there aren't many bigger properties the larger ones are sought out as they are hard to find in newer buildings.

I still remember that! What great memories. Man, I feel old now because that was a LONG time ago. It's hard to believe how fast it all went but I was only 29 years old when I moved down to Buenos Aires to do my start-up. @JonJLA was one of my very first clients. A class act gentleman. I miss Fernando. He was a great and humble guy. He taught me many lessons. I've been through several Presidents in Argentina. De la Rua, Nestor Kirchner, Cristina Kirshner, Macri, Fernandez and Milei. The only one I didn't meet in person was Alberto Fernández.

Perhaps the one lesson that ex-President de la Rua told me was, "Michael they love you until they hate you". And that has been exactly what has happened so far with all of the Presidents in Argentina since my time doing business in Argentina. I once saw an old lady spit in the face of ex-President de la Rua in front of our office building. It was quite a sight to witness and one that I will never forget.



It was really terrible under the Peronistas. They made things very difficult but not impossible. Because we structured things properly for our clients we never had any issues exiting for hundreds and hundreds of properties that we helped our clients/investors sell in 2017/2018 and over the years. We also got retained by hundreds more that didn't have good guidance but never once did we ever fail helping a foreigner selling that hired us and exiting out of Argentina. Property rights are very respected here and I don't ever see that changing.

It is very impressive what you have done over the years. I didn't know you did this in Mexico too. It is clear to me you know what you are doing with real estate.

I'm retired Wall Street banker and one thing I learned over the years is most people will not and never will take risks and invest in things because they are scared. But it's usually these investments that have outsized returns. Kudos.

 

[Dirk Diggler]

No actual 3 bedrooms but we have this unit which is a 2 bedroom apartment next to a 1 bedroom apartment. They have separate entrances but you have the benefit of being in the same location and having your own privacy. You can see the floor plan below. Our guests have really loved it.

It is ranked as the Top 5% of all apartments in Buenos Aires by Airbnb.

Condo in Buenos Aires · ★5.0 · 3 bedrooms · 5 beds · 3 baths

Skyline• 3 Balconies• 1Gig WiFi• King Bed• Palermo

airbnb.com

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Wow this is the type of property that would work out for my family of 6! My wife and I could share the master and the other two bedrooms could fit my 4 kids. Is there any discount by booking 1 year? Can you do this off Airbnb?? I see the rate of $300/night which is too much. It says $7,500 for a month. That seems more than I would spend in the US. I'll look around for cheaper Airbnbs but my wife and I both work from home so fast internet is a must!

 

[Dirk Diggler]

So I’m one of the other forum members Mike mentioned that has a unit in the building: Condo in Buenos Aires · ★4.97 · 2 bedrooms · 3 beds · 2 baths Just like Johnny’s apartment, the occupancy has been incredible- it’s constantly around the 90%+ rate. In fact I don’t think it’s dipped below the mid 80% mark since it was first listed last year in February! I bought it for around $200K and have gotten 2 unsolicited offers for $340k. If any forum members are interested in booking a stay, let me or @earlyretirement know. Big thanks and kudos to him making it all possible!
https://www.airbnb.com/rooms/129216...0-afaf-dda6ff613a61&viralityEntryPoint=1&s=76

Interesting. I didn't even know foreigners were buying these apartments in Buenos Aires to do rentals. I thought they were all owed by Argentines.

Just doing the math @ravingnomad if you purchased for that amount and I see your nightly rate and your calendar is booked! You must be making a lot of money! Maybe I need to change my thought process and maybe sell my properties in the USA instead of rent them. They aren't even making much rent now on long term rentals.

Do you know if I buy something like yours and then use that cash flow with the Argentina IRS if I can qualify for the rentista? I wonder how many months they will want me to show? I guess I could do a fake contract and just rent to someone with a contract for the minimum # for person and would save myself the hassles. These kind of returns look impressive. I may DM you @ravingnomad

 

[earlyretirement]

Wow this is the type of property that would work out for my family of 6! My wife and I could share the master and the other two bedrooms could fit my 4 kids. Is there any discount by booking 1 year? Can you do this off Airbnb?? I see the rate of $300/night which is too much. It says $7,500 for a month. That seems more than I would spend in the US. I'll look around for cheaper Airbnbs but my wife and I both work from home so fast internet is a must!

Hey @Dirk Diggler,

Yes, we get a lot of people renting short-term with bigger families. It's a great set up for that. I'm not sure how old your kids are but it's perfect if you have teenagers because it allows them to be right there in the same location yet have their own entrance for privacy. Both apartments also have really comfortable sofa beds if they want their own beds. That's right we are getting around $7,500 USD per month. But to be honest, most don't book it more than a month. Mostly for tourists. I'd have to see future bookings but you can PM me. The occupancy rates have been so busy there really isn't any incentive to rent out long term other than you would pay the monthly condo fees and all the utilities. It's been a cash cow. All the units in that building have been really great rentals as I predicted when I bought them and urged my clients to buy them a few years ago.

Interesting. I didn't even know foreigners were buying these apartments in Buenos Aires to do rentals. I thought they were all owed by Argentines.

Just doing the math @ravingnomad if you purchased for that amount and I see your nightly rate and your calendar is booked! You must be making a lot of money! Maybe I need to change my thought process and maybe sell my properties in the USA instead of rent them. They aren't even making much rent now on long term rentals.

Do you know if I buy something like yours and then use that cash flow with the Argentina IRS if I can qualify for the rentista? I wonder how many months they will want me to show? I guess I could do a fake contract and just rent to someone with a contract for the minimum # for person and would save myself the hassles. These kind of returns look impressive. I may DM you @ravingnomad

Yes, many foreigners buy real estate here. But I always say real estate investment in Argentina is NOT for most people. It's only for high net worth individuals for the most part that are in for a longer term investment. I'm not sure where your house is in the USA but many cities like where I live it doesn't even cash flow out by the time you add on HOA fees, property taxes, maintenance fees, Gardiner, and especially insurance. My company @BuySellBA offers a consulting service so you can contact us for an initial consultation and I'd be happy to walk you through it.

Cheers.

 

[Betsy Ross]

Wow this is the type of property that would work out for my family of 6! My wife and I could share the master and the other two bedrooms could fit my 4 kids. Is there any discount by booking 1 year? Can you do this off Airbnb?? I see the rate of $300/night which is too much. It says $7,500 for a month. That seems more than I would spend in the US. I'll look around for cheaper Airbnbs but my wife and I both work from home so fast internet is a must!

Wow I did a search from May 1, 2026 to May 1, 2027 for a long term booking on Airbnb and I was shocked to see so little. I put a Guest Favorite Filter and added 3 bedrooms 3 bathrooms (I'd think if you have 6 people you'd need that with AC) and I only saw 5 properties. The monthly rates shocked me! This is more than I would expect to pay in some cites in the USA.

 

[Betsy Ross]

If I take off the Guest Favorite filter it only leaves 29. I didn't realize the market was this tight for 3 bedroom properties.