Yes, it is happening. I still have 4 clients that own in that building. What they do is say it's a long-term contract and then just do it for a month and then after the month, they say the tenant left. I don't think they are doing less than a month at a time. I LOVED that building and bought much of that building up. I personally owned 4 units there but dumped them ALL at the top of the market in late 2018 and some in 2019. Was a great time to sell.
Congrats on snagging that Penthouse unit! The view is great up there. Lots of natural sunlight and will be a special rental. Plus when I go to Buenos Aires I will stay in my units there that I own. I'm going to make it really high-end and decorate it nice. Lots of money will be made renting them out. Cha-ching.
Can I ask what you paid @ravingnomad? You can DM me if you don't want to post publicly. Congrats! I am itching to buy something here but the all cash is a new twist. I have been buying on credit all my life even when I had the cash to pay. I just exited out of all my Seattle real estate. It's time to sell in the USA. Bad times ahead in the USA. I'm going to look around more in Palermo and Recoleta. Those are the only two areas I would buy in.
Congratulation @ravingnomad! I also bought in this building. I bought one of the 2 penthouse units on the 9th floor. I inquired with the developer to offer to buy the other penthouse if the owner wanted to flip it but sadly they turned down my offer. Here is the floor plan of the unit that I purchased.
@Johnny It was a true pleasure to have met you in person. We look forward to assisting you with furnishing and decorating your beautiful penthouse property and we look forward to managing your property.
@ravingnomad, congratulations on buying the last 2 bedroom unit in the building. We look forward to meeting you and your wife. We also look forward to assisting you professionally in decorating and furnishing your beautiful 2 bedroom 2 bathroom property. We also look forward to managing your property.
Yes! This all-cash thing takes getting used to. We have not done that before but we are also exiting out of our property in Tampa. Closing hopefully the first week in January. We will buy a small place in Florida and also plan to buy a nice place in Buenos Aires. We see very nice apartments for under $400,000 USD there. @BuySellBA are you guys a real estate agency?
Thanks so much @Johnny, I'm terribly jealous of you, but still very happy with our unit. Its on a relatively high floor and has a decent view so should rent out well. Plus it'll be great when we come down to stay in BA- the amenities and restaurants in the area are awesome from what we've seen so far.
Hi @Dazed & Confused,
Yes! We are using that website. We know how to use it but the owners or their agents are flaky. We don't want too small of a unit. The ones we like are around $400k USD.
what size m2/sqft?
We are looking at things like this with at least 3 bedrooms. We will just wait until we get there. We may go in February now as we heard it's totally dead in January. Many owners gone and not home then.
www.remax.com.ar
www.remax.com.ar
We are looking at things like this with at least 3 bedrooms. We will just wait until we get there. We may go in February now as we heard it's totally dead in January. Many owners gone and not home then.
Venta y Alquiler de Propiedades | RE/MAX
Encontrá Casas y Departamentos en Venta y Alquiler. Tu próxima Propiedad está en RE/MAX: Líder Mundial en Servicios Inmobiliarios.
Venta y Alquiler de Propiedades | RE/MAX
Encontrá Casas y Departamentos en Venta y Alquiler. Tu próxima Propiedad está en RE/MAX: Líder Mundial en Servicios Inmobiliarios.
Most of the larger, newer properties in Palermo Hollywood and that general area are being purchased up by foreigners just like after the last crash. Not too many locals are buying up larger properties right now. It's expensive for them but seem cheap for foreigners that are selling properties in expensive areas.
You have good taste! I need some rich expat friends so PM me when you get here! At the very least I can hang out in your hot tub!We are looking at things like this with at least 3 bedrooms. We will just wait until we get there. We may go in February now as we heard it's totally dead in January. Many owners gone and not home then.
Venta y Alquiler de Propiedades | RE/MAX
Encontrá Casas y Departamentos en Venta y Alquiler. Tu próxima Propiedad está en RE/MAX: Líder Mundial en Servicios Inmobiliarios.
Venta y Alquiler de Propiedades | RE/MAX
Encontrá Casas y Departamentos en Venta y Alquiler. Tu próxima Propiedad está en RE/MAX: Líder Mundial en Servicios Inmobiliarios.
@earlyretirement would know, but @Spend Thrift you may want to inquire with him as even though the units you are interested may be sold or reserved, sometimes those investors/buyers are holding onto them for a flip.
That is exactly correct. Many locals buy with the intention of flipping. Many investors invest in these pozo projects just to flip them before the building is done. I have done this 3 times and has always worked out well. Properties always go up in value from the time they start to the time they finished. I have never lost money flipping pozo projects. That is providing the developer actually finishes. There are some projects that never finish. You must be selective with the builder.
I just met a guy today that has been doing this. He said that he doesn't even pay any capital gains taxes or anything. He said he just puts 30% down and makes some payments and then always flips and has made great %. He said the same thing about being careful who is building it.
