Buying A Small Apartment To Be Used As Collateral

Ceviche said:
Isn't that a brilliant idea???
Click to expand...

Didn't we establish that you can't be your own Garante???

Also if the piso is the only property/residence of a person and minors live there, is no good as Garantia since the property can't be auctioned....!
 
how about buying the property in name of a company?

then handing over that company to a Trust

And then running the trust indirectly?
 
Ceviche said:
how about buying the property in name of a company?

then handing over that company to a Trust

And then running the trust indirectly?
Click to expand...

It's too simple minded. Why not found a cult, obtain legitimate religion status at the ministry of foreign relations and "cult", and then buy the property in the name of the church. You can then rent that property perhaps tax free to the Catholic Church, and use it as a garantia to rent a semi piso in recoleta which are obviously in such high demand and can't be be found easily as the owners are swimming in dollars and don't need to make their properties work for them.
 
Matt84 said:
It's too simple minded. Why not found a cult, obtain legitimate religion status at the ministry of foreign relations and "cult", and then buy the property in the name of the church. You can then rent that property perhaps tax free to the Catholic Church, and use it as a garantia to rent a semi piso in recoleta which are obviously in such high demand and can't be be found easily as the owners are swimming in dollars and don't need to make their properties work for them.
Click to expand...

Good post. Nice.

Well done mate.
 
Living on temporary/touristic rentals has its advantages ( lots) but not the ideal solution if one is living here for many years.

As what I have seen here . Many owners, when they see a foreigner ( irrespective of yr DNI) they are actuallly ready to give a apartment without garantia. Infact two owners agreed last week agreed to give me a apartment in my building without a garantia.

But obviously one has to pay 6 months in advance. And then, they have added 2-3 different kind of penalties in the clauses of the contract, which I did not like.

Owning a apartment and offering as a garantia will only make one's cause stronger and make the contract more in your favor. Its not as if its a law .this garantia thing. But having a apartment will help.
eg One of the owners told me "what will I do if you lock the house and go out of argentina and never come back!!". At least if one owns a apartment, no one will say that to you ( logically speaking)!

Plus having a apartment can also be used a collateral to ask a bank to give a financial garantia..

Having a apartment can also be used as a collateral to take a loan from a bank ( in pesos) and buy something better in the future...

Having a apartment and putting it on rent can also be used as a income to declare to afip, to pay taxes on it and develop a legal financial trail in the country.

Having your own apartment for garantia is better than paying someone 2 months worth of rent to "buy" the garantia. Or buying some "fake" garantia from mercado libre and be a part of a fraud.

Its not the most ideal way to get a garantia but its better than begging people in CABA.. "hey can you please give me a garantia.please. I will be very grateful" and people running away from you!

Last but not the least, having a apartment means one has his own roof in this awesome city. To hell with price rise or price drop in the future. A roof is a roof!
 
As pointed out, you can't use your own property to rent another apt in your own name. So you would have to put the rental apt in someone else's name. Which is possible if you're living with someone but you had better make sure you trust that person implicitly!

I also haven't seen any studios for 50K out there for a while. And certainly not in areas where tourists are looking to rent - Palermo, Recoleta, etc.

I will say having been even remotely involved with renting out apts, it is A LOT of work.

It's doable but seems rather a lot of work for no real reason. If you live here and have the funds, buy an apt that you want to live in. Or as you said, offer to pay 6 months of rent in advance. Landlords are usually relatively flexible esp with foreigners as you alluded to.
 
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