Most Luxurious Rental in Buenos Aires - Limitless Palermo Hollywood

[Avocado]

Wow Mike that was fast! My folks are coming down for the summer (our winter) and your calendar is all booked out already. Congrats! They wanted to stay there with my cousins.

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That is incredible you can get these kind of money but I imagine you invested a lot of money.

 

[earlyretirement]

Thanks everyone for the congratulations. It was a lot of hard work (and money) but my company @BuySellBA did it!

I've very proud to have the First "LUXE" Category property in Argentina. We are extremely proud to have been invited to be the first LUXE property in Argentina. It's so cool to do the filter for LUXE and be the only one that comes up for Argentina.

LUXE is by invitation only. Only the finest properties in the world have this honor. You can go to Airbnb's search filter and select "LUXE" Category next to the Guest Favorite and you will see we have the first LUXE property in Argentina.

Many more to come.

Stay tuned.

Home in Buenos Aires · ★5.0 · 3 bedrooms · 6 beds · 3 baths

Ultra LUXE House -Rooftop Spa, Fire Pit - Sleeps 8

airbnb.com

 

[Johnny]

Thanks everyone for the congratulations. It was a lot of hard work (and money) but my company @BuySellBA did it!

I've very proud to have the First "LUXE" Category property in Argentina. We are extremely proud to have been invited to be the first LUXE property in Argentina. It's so cool to do the filter for LUXE and be the only one that comes up for Argentina.

LUXE is by invitation only. Only the finest properties in the world have this honor. You can go to Airbnb's search filter and select "LUXE" Category next to the Guest Favorite and you will see we have the first LUXE property in Argentina.

Many more to come.

Stay tuned.

Home in Buenos Aires · ★5.0 · 3 bedrooms · 6 beds · 3 baths

Ultra LUXE House -Rooftop Spa, Fire Pit - Sleeps 8

airbnb.com

View attachment 10541

Congrats Mike! Wow, how did you manage that? Any chance that you can manage to get that for our apartments in Guadalajara or our new place in Cabo coming up??? That would be amazing!

 

[Jtee125]

Thanks everyone for the congratulations. It was a lot of hard work (and money) but my company @BuySellBA did it!

I've very proud to have the First "LUXE" Category property in Argentina. We are extremely proud to have been invited to be the first LUXE property in Argentina. It's so cool to do the filter for LUXE and be the only one that comes up for Argentina.

LUXE is by invitation only. Only the finest properties in the world have this honor. You can go to Airbnb's search filter and select "LUXE" Category next to the Guest Favorite and you will see we have the first LUXE property in Argentina.

Many more to come.

Stay tuned.

Home in Buenos Aires · ★5.0 · 3 bedrooms · 6 beds · 3 baths

Ultra LUXE House -Rooftop Spa, Fire Pit - Sleeps 8

airbnb.com

View attachment 10541

I didn't ever see any Luxe properties on Airbnb. I checked a few times over the years but nothing came up. I just looked and saw your property. Kudos to you on this accomplishment. The property looks phenomenal.

 

[Finance Prof]

Thanks everyone for the congratulations. It was a lot of hard work (and money) but my company @BuySellBA did it!

I've very proud to have the First "LUXE" Category property in Argentina. We are extremely proud to have been invited to be the first LUXE property in Argentina. It's so cool to do the filter for LUXE and be the only one that comes up for Argentina.

LUXE is by invitation only. Only the finest properties in the world have this honor. You can go to Airbnb's search filter and select "LUXE" Category next to the Guest Favorite and you will see we have the first LUXE property in Argentina.

Many more to come.

Stay tuned.

Home in Buenos Aires · ★5.0 · 3 bedrooms · 6 beds · 3 baths

Ultra LUXE House -Rooftop Spa, Fire Pit - Sleeps 8

airbnb.com

View attachment 10541

Congratulations Mike. That is kind of funny doing that search and only seeing 1 property. It must be a great feeling.

 

[Bingo]

Congratulations Mike. That is kind of funny doing that search and only seeing 1 property. It must be a great feeling.

I just did the search. Must feel nice to be the only Luxe category in Argentina! Way to go.

 

[Avocado]

I just did the search. Must feel nice to be the only Luxe category in Argentina! Way to go.

Wow that incredible! I just do search on Airbnb.

I see that only luxury property in Argentina. How you do that???

Is that price in usd? It $6,077 dollars for 7 nights???

 

[Johnny]

Wow that incredible! I just do search on Airbnb.

I see that only luxury property in Argentina. How you do that???

Is that price in usd? It $6,077 dollars for 7 nights???

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Yes that's in USD. I went down my last trip and saw them renovating. I can't believe how great it turned out. I hear it's booked solid for months and months. I'm so jealous!

 

[earlyretirement]

Congrats Mike! Wow, how did you manage that? Any chance that you can manage to get that for our apartments in Guadalajara or our new place in Cabo coming up??? That would be amazing!

Hi Johnny. Yes, I already am in contact with Airbnb and they are trying to have someone from Montreal fly down to see both our units to get the LUXE category. It would be the first one in Guadalajara too! And they will fly down to see our Cabo penthouse too for the LUXE category.

I didn't ever see any Luxe properties on Airbnb. I checked a few times over the years but nothing came up. I just looked and saw your property. Kudos to you on this accomplishment. The property looks phenomenal.

Thanks @Jtee125!

Yes, I think people gave up on searching for the LUXE filter for Argentina as it has never had any. It's invitation only. When they heard that I was renovating a house and it would be special they contacted me. They flew someone from Montreal to inspect it. There is a 300 point inspection. I'm VERY proud to be the first and only property in the LUXE category on Airbnb. I'm sure there will be more but I'm very proud to be the first one.

You can see a drone video here:

Wow that incredible! I just do search on Airbnb.

I see that only luxury property in Argentina. How you do that???

Is that price in usd? It $6,077 dollars for 7 nights???

View attachment 10673

Hi @Avocado,

I hope you and your family are doing well. Yes, those prices are in USD. We are in the $1,200 a night range already. Our ultimate goal is around $1,500 USD per night. Already for events like weddings we are getting $2,500 USD per night with a 2 night minimum so $5,000 USD which I consider a great deal.



If you want you can read the 113 year old history of the house here. The reporter is a friend of mine who only after I purchased the house I found out he wrote a story about the house a few years ago. He recently contacted me to do a follow up story that he will publish about me purchasing it. I think it's one of the most special houses in Buenos Aires.

El increíble PH que fue testigo de la explosión de un barrio: cómo y cuánto vale la joya oculta que se vende en Palermo Hollywood

Se trata de un propiedad de 656 metros cuadrados. Podría reconvertirse en un espacio cultural, hotel boutique o en un inmueble de uso mixto

www.infobae.com

 

[retiredbanker]

I didn't ever see any Luxe properties on Airbnb. I checked a few times over the years but nothing came up. I just looked and saw your property. Kudos to you on this accomplishment. The property looks phenomenal.

I also from time to time over the years looked at that category and it always came up blank for Argentina. I just checked the calendar to see about maybe booking it for my elderly parents that are finally making a trip down but I see it's booked the next few months. Maybe another time.

It really is something else. I just saw your renovation photos from last year. It's hard to believe what you converted that into. That couldn't have been easy!

 

[Petey]

I also from time to time over the years looked at that category and it always came up blank for Argentina. I just checked the calendar to see about maybe booking it for my elderly parents that are finally making a trip down but I see it's booked the next few months. Maybe another time.

It really is something else. I just saw your renovation photos from last year. It's hard to believe what you converted that into. That couldn't have been easy!

So my friend bought an apartment in Recoleta last year. He was only renovating his kitchen and bathrooms and the contractor told him it would be easy. He had to pay a big chunk up front. Long story short the project still isn't done! I don't know if they will ever finish. The agreed to a price and he paid about half up front to buy all the materials. Now they are having a huge dispute because the guy wants 60% more than what they agreed. They had a written contract.

My friend is just stuck. He doesn't know what to do. This kind of thing is apparently common here.

 

[Betsy Ross]

So my friend bought an apartment in Recoleta last year. He was only renovating his kitchen and bathrooms and the contractor told him it would be easy. He had to pay a big chunk up front. Long story short the project still isn't done! I don't know if they will ever finish. The agreed to a price and he paid about half up front to buy all the materials. Now they are having a huge dispute because the guy wants 60% more than what they agreed. They had a written contract.

My friend is just stuck. He doesn't know what to do. This kind of thing is apparently common here.

Petey this is extremely common here in BA. If I had a $1 for every friend I know that had problems with renovations I would be rich.

The problem here is there is still a lot of inflation. Now it's going back up. A friend is having the same type of issue. No one will start unless you put down a big down payment but the problem is them finishing. People here don't really care about a bad reputation. The court system here doesn't work. If you sue someone takes years to get to a judge.

My friend just got a kitchen renovated. She wanted me to help out (she lives in the U.S.) I told her I didn't want to get involved at all in case there was a problem. She even offered to pay me. Well, she had her maid be there to let them in and watch the work. She arrived to her place a few weeks ago and they put in cheaper materials than what she picked out in the store. They told her that it is her problem.

 

[Gringo]

Congrat! Sweet! Looking very nice. I think I remember when you were starting the project seemed like less than a year ago. Awesome to see that it's completed already.

Price isn't as much as I thought it was going to be - considering someone some time ago I believe it was @fool in love - spent upwards of 1k per night at the Four Seasons executive suite.

Really? I see it is like $1,500 a night for January. I think it is great if you can get it. Wow the place looks so nice! This looks cheap even at $1,500 a night. This is the type of place I would rent with a few friends. My parents stayed at the Four Seasons and it sure was nice but it was a shoebox and they spent $1k a night.

 

[Uncle Wong]

Congrat! Sweet! Looking very nice. I think I remember when you were starting the project seemed like less than a year ago. Awesome to see that it's completed already.

Price isn't as much as I thought it was going to be - considering someone some time ago I believe it was @fool in love - spent upwards of 1k per night at the Four Seasons executive suite.

I think they raised the rates. I was looking at it when it first came out and it was only around $850/night. I see they jumped up. Probably with the Luxe category and the fact it's the only one they will be able to charge whatever they want once people see that.

Maybe it is already happening. I see every single night booked for the past few months now.

Buysellba just posted on X the ROI. It's eye popping!

 

[JonJLA]

I think they raised the rates. I was looking at it when it first came out and it was only around $850/night. I see they jumped up. Probably with the Luxe category and the fact it's the only one they will be able to charge whatever they want once people see that.

Maybe it is already happening. I see every single night booked for the past few months now.

Buysellba just posted on X the ROI. It's eye popping!

Wow that brings back great memories because Mike sent me that spreadsheet way back in 2004. Great he is still using that spreadsheet. First thing he told me was I can't guarantee you any ROI but he opened his books and showed me all the properties they were managing. In the beginning it was mostly only his properties. This was back before Airbnb. Many years before.

To be fair, I don't think you can get these kind of returns now except with a really special expensive property. But when I started, there weren't much competition. It was the only game in town for many years. For perspective, my small 37 m2 studio was getting $150 per night. And I was packed about 27 days a month. I just fished out my old spreadsheet and here is mine from 2004.

I didn't quite have this ROI but this is what was estimated. I gave a discount for weekly bookings so that knocked the ROI down but I was getting 30% annual returns after paying them their management fees. I did also pay some income taxes but that was a complicated matter. It was on part of the income. I forget which percent.

 

[Dick]

Wow that brings back great memories because Mike sent me that spreadsheet way back in 2004. Great he is still using that spreadsheet. First thing he told me was I can't guarantee you any ROI but he opened his books and showed me all the properties they were managing. In the beginning it was mostly only his properties. This was back before Airbnb. Many years before.

To be fair, I don't think you can get these kind of returns now except with a really special expensive property. But when I started, there weren't much competition. It was the only game in town for many years. For perspective, my small 37 m2 studio was getting $150 per night. And I was packed about 27 days a month. I just fished out my old spreadsheet and here is mine from 2004.

I didn't quite have this ROI but this is what was estimated. I gave a discount for weekly bookings so that knocked the ROI down but I was getting 30% annual returns after paying them their management fees. I did also pay some income taxes but that was a complicated matter. It was on part of the income. I forget which percent.

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Jesus Christ! Is that correct? Real estate for a studio apartment back then was only $47,000 dollars???? Whey wasn't everyone buying then! Did you have to pay it in cash?? What was the process like back then?

I think they raised the rates. I was looking at it when it first came out and it was only around $850/night. I see they jumped up. Probably with the Luxe category and the fact it's the only one they will be able to charge whatever they want once people see that.

Maybe it is already happening. I see every single night booked for the past few months now.

Buysellba just posted on X the ROI. It's eye popping!

These numbers blow my mind away! But I just checked the calendar on the airbnb listing and it is booked solid for months!

Home in Buenos Aires · ★5.0 · 3 bedrooms · 6 beds · 3 baths

Ultra LUXE House -Rooftop Spa, Fire Pit - Sleeps 8

airbnb.com

 

[JonJLA]

Jesus Christ! Is that correct? Real estate for a studio apartment back then was only $47,000 dollars???? Whey wasn't everyone buying then! Did you have to pay it in cash?? What was the process like back then?

These numbers blow my mind away! But I just checked the calendar on the airbnb listing and it is booked solid for months!

Home in Buenos Aires · ★5.0 · 3 bedrooms · 6 beds · 3 baths

Ultra LUXE House -Rooftop Spa, Fire Pit - Sleeps 8

airbnb.com

Yes it is correct. I bought 2 apartments in a skyscraper in Soho. It was pitched to me before they even broke ground. It was by GyD Developers who built the building. One apartment I bought was $47,000 and the other was $49,000 USD. 30 floor tower. I think everyone was buying back then!

I know that @BuySellBA purchased over 25% of that entire building with their clients. The building has over 200+ units.. Many flipped and made a lot of money but most of th building now is all short-term rentals. If I had to guess I would say 75% of the building are airbnb's.

It wasn't just me. I had the chance to buy the penthouse and feel stupid for not buying it. The penthouse unit on the 29th floor was only $185,000 for an incredible apartment with wrap around balcony. I will see if I can find the Airbnb link. But you can read in this article of the Wall Street Journal from a while back. The owner clearly says what we were making. We were making 30% annual returns. The apartments paid for themselves in rentals in less than 3.5 years. It was crazy.

https://www.wsj.com/articles/SB10001424127887323735604578441210415407972

Buenos Aires Lures Foreign Buyers With Tumbling Prices - WSJ

By: Katy McLaughlin

buysellba.com

Fortune favors the bold.

 

[Wally]

I think they raised the rates. I was looking at it when it first came out and it was only around $850/night. I see they jumped up. Probably with the Luxe category and the fact it's the only one they will be able to charge whatever they want once people see that.

Maybe it is already happening. I see every single night booked for the past few months now.

Buysellba just posted on X the ROI. It's eye popping!

Those returns are amazing but it should be pointed out that all of this is much easier said than done. It is almost impossible to first a great property and then have the connections to renovate to the level that they did. Not even talking about the finances to do something like that. I just looked at the spreadsheet and it looks about right based on other friends that did gut jobs like that. Often times you will spend the same amount on renovations as you will on purchase price. That looks to be the case in this one.

How great he shared the numbers. It's very interesting to see. Just have to point out that not many can pull this off in Buenos Aires. It is not for the faint at heart. I heard and seen a lot of horror stories.