Buying appartements for temporary rental

[BlahBlah]

I want to start my own business in BA because I plan to stay indefinitly and have dual citizenship so there is not really a tax issue.

I want to buy 5 appartements in 2 or 3 different buildings and rent out 4. With the calculatings I have made I will earn enough in today's market if I can rent out atleast 2,5 appartments at the same time

I am planning to live in one appartment, have my office there and rent out the other 4. I probally try to start my business early 2010.

I have the following questions

1: Do the expats who own a property for temporary rental get a ROI of 5% from purchase-price(including all buyers-cost) after paying all expenses in 2009?

2: So far untill may 2009 the foreign arrivals at Ezeiza are down around 15%. What do you expect for the rest of 2009 and 2010? How big will the impact of Swine flu be?

3: What's the best area to buy? It should be easy to rent out

4: What do you suggest to buy if money is not important, a small studio for at most 2 persons, 2 room appartment with the posibility to be used by 3 to 5 people. 4 bedroom appartement and renting it out to 2,3 different persons(room)

5: Can you give an estimation of the total occupation rate of the first 6 months of 2009 for all appartmens for temporary rental?

6: What is the ROI you can get if you rent out to a local and buy early 2010?

7: Something to add?

Thanks for your help

 

[steveinbsas]

Didn't you recently post (happily) that you only had expenses in Argentina...no investments?..AND that anyone considering buying should wait until the prices dropped further? Didn't you also post that you could easily get a return of 5% with "deposits" as opposed to BA real estate?

Why should anyone take your post seriously?

 

[BlahBlah]

Steve makes it so worthwhile to ask a question

 

[steveinbsas]

If you were sincere it would matter.

Your previous posts reveal your motives.

Besides, you always have all the answers.

Why would you ask now?

 

[BlahBlah]

Now we can go in with serious reactions

 

[steveinbsas]

Now we can go in with serious reactions

OK, Let's go!

(or did you mean answers?)

 

[Bairesgirl]

Blah Blah:

I personally wouldn´t put all my eggs in one basket at the moment
But this is my individual personal opinion.
I would buy one or two but not four or five as:

1) The Influx of tourists has declined due to different reasons
2) The amount of people w/ appartments looking to get into temporary rentals has increased, larger supply and lower demand has been dragging some prices down...

The friend of a friend who´s appt I had offered on the board
http://recoletaappartment.blogspot.com/
(I am not a realtor, I work in exports) is getting out of the business soon.
The appartment has been sold and will be turned in in September
I t used to rent out for US$ 840 a month
now it is now going for US$680 (inc. comission)... or US$290 per week-
but then this is what we at least are seeing----

 

[BlahBlah]

Thank you

Could you try to answer the other questions with your own personal knowledge, like where you would like to stay when you would be temporary tourist?

 

[Bairesgirl]

I would say Recoleta or Palermo.....

 

[BlahBlah]

Thanks again

If you decide for Colegiales, Villa Urquiza or Villa Crespo, would that be harder to rent out? Even if it's close to a subte?