Buying A Small Apartment To Be Used As Collateral

[nikad]

Ceviche, if you can rent out with no garantia, just by paying 6 months at a time, I think it is the best way to go. Unfurnished rental, paying in pesos, if anything goes wrong, they cannot go after any properties, etc. I rent long term with garantia, if I could switch to a contract with no garantia, I would do it without doubts. What are these clauses you are talking about?

 

[steveinbsas]

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.

Here's what $53,000 USD will get you in Palermo, one block from Plaza Italia. It's actually listed as a "one bedroom" (dos ambientes) apartment:

http://www.remax.com...mo_420461008-20

There is no view but it looks like the kitchen and bath have been recently redone. I wonder if the "patio" is figured into the 24 m2. I also wonder what tourist would be happy renting a place like this when there are so many which have "nice" views (and would undoubtedly cost considerably more than $53,000 to buy).

The greatest drawback to the idea of buying an apartment like this to serve as collateral to rent a larger apartment (whether that is "acceptable" to any property owner or not) would be the difficulty of paying the asking price in dollars. Even if the seller would accept pesos, it is highly unlikely that they would accept the peso equivalent of $53,000 USD at the official rate (which is what you would get if you "legally" transferred the $ through the Banco Nacion).

 

[Rich One]

Here's what $53,000 USD will get you in Palermo, one block from Plaza Italia. It's actually listed as a "one bedroom" (dos ambientes) apartment:

http://www.remax.com...mo_420461008-20

There is no view but it looks like the kitchen and bath have been recently redone. I wonder if the "patio" is figured into the 24 m2. I also wonder what tourist would be happy renting a place like this when there are so many which have "nice" views (and would undoubtedly cost considerably more than $53,000 to buy).

The greatest drawback to the idea of buying an apartment like this to serve as collateral to rent a larger apartment (whether that is "acceptable" to any property owner or not) would be the difficulty of paying the asking price in dollars. Even if the seller would accept pesos, it is highly unlikely that they would accept the peso equivalent of $53,000 USD at the official rate (which is what you would get if you "legally" transferred the $ through the Banco Nacion).

Amen ,,, However a 24 m2 Dos Ambientes ?? seems like a very very tiny bedroom, I'd say

 

[Ceviche]

Ceviche, if you can rent out with no garantia, just by paying 6 months at a time, I think it is the best way to go. Unfurnished rental, paying in pesos, if anything goes wrong, they cannot go after any properties, etc. I rent long term with garantia, if I could switch to a contract with no garantia, I would do it without doubts. What are these clauses you are talking about?

Dear Nikad, can you enlighten me on these clauses :-

1. That the tenant must pay a late fees of 1/3 of the total rent, daily for each day delay.. if he fails to pay by the due date. ( for me, late payment penalty is fine. But penalty soooo high?)

2. That if the tenant wants to leave before 2 years, he must pay 1,5 months rent fine over and above the rent and expenses due. (for me, as long i pay the rent and lets say give 2 months notice before i want to leave should be fine..why a penalty??)

3. They have calculated the whole rent for 24 months including the 25% increase after 12 month and stated that is the gross amount i owe them! ( i told them that rent is monthly and I dont owe them this amount, until i live there for full 24 months)

4. the landlord can ask the tenant to evict within 15 days if the tenant does not ful fil any of the clauses within 5 days as requested!

5. Most disturbingly...they inserted a clause of " Rescincion contracto de locacion", after 18 months..that i allow them to take over the house ( along with my furniture)..if i have not fulfilled any of the conditions in the contract or i owe them rent or gastos.. (so i had been telling them..why should I sign that I will leave after 18 months when I have no plans to leave until 24 months and why should I give them my furniture when they already have one months rent as security deposit). this clause they said is the MOST important clause!

===

I would appreciate feedback from experienced long term tenants on these clauses!

 

[nikad]

1 does not make any sense cos you are paying in advance
2 is a very common clause for all long term contracts, usually they keep the safe deposit
3 get them to rephrase that, to total amount of the contract and payments every 6 months
4 it doesn't matter, you paid in advance!
5 Take over the place, yes, BUT first they must return any amounts paid for in advance and your furniture NO WAY.

 

[Ceviche]

Reviving this thread.

Looking to buy something in 2015..whether to use or not use as a collateral is a different issue...

which would be good target streets /zones to search for something around 100-110K usd with los dos ambientes ( uno dormitorio)..around 45- 60 m2 in a nice building with a gym and pool. something new constructed in 2014 or 2015...and near a subte estacion. En capital.

Which would be good areas for attracting expats for temporary furnished rentals.

 

[garryl]

Good idea, I will sell you mine.

 

[garryl]

Here's what $53,000 USD will get you in Palermo, one block from Plaza Italia. It's actually listed as a "one bedroom" (dos ambientes) apartment:

http://www.remax.com...mo_420461008-20

There is no view but it looks like the kitchen and bath have been recently redone. I wonder if the "patio" is figured into the 24 m2. I also wonder what tourist would be happy renting a place like this when there are so many which have "nice" views (and would undoubtedly cost considerably more than $53,000 to buy).

The greatest drawback to the idea of buying an apartment like this to serve as collateral to rent a larger apartment (whether that is "acceptable" to any property owner or not) would be the difficulty of paying the asking price in dollars. Even if the seller would accept pesos, it is highly unlikely that they would accept the peso equivalent of $53,000 USD at the official rate (which is what you would get if you "legally" transferred the $ through the Banco Nacion).

a 53k prison cell. You can just hit someone on Santa Fe, you will have your room soon.

 

[Rich One]

Check 20 apts 2 ambientes, under 100K in Recoleta and Palermo Check also Zonaprop.com or Argenprop.com

http://www.argenprop.com/Departamentos-Recoleta-Palermo-2-Ambientes-Capital-Federal/mQ2KrbQ1KpQ1Kaf_800Kaf_9Kaf_35Kaf_100000001Kaf_500000001Kaf_800000020Kaf_900000005Kaf_900000033Kaf_900000034Kaf_900000036Kaf_900000038Kaf_900000037Kaf_900000035Kaf_800000004Kb_20Kb_4Ksb_5Ksb_33Ksb_34Ksb_36Ksb_38Ksb_37Ksb_35KvnQVistaResultadosKvncQVistaGrillaKpiQ95000KpsQ110000

 

[Ceviche]

Check 20 apts 2 ambientes, under 100K in Recoleta and Palermo Check also Zonaprop.com or Argenprop.com

http://www.argenprop...95000KpsQ110000

Of course..I know all these websites.

I was looking for which would be the right 'ubicacion' to buy .