Inversiones En Pozos.

nlaruccia

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Out of curiosity, has anyone ever invested in an apartment a estrenar o en pozo? I know many of the companies never even finish the construction and you lose your money, or the quality of the building is terrible, but I've also heard some good things too. Plus, they're more affordable than buying an apartment that's already constructed.
 

Davidglen77

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I´ve had several close friends of mine buy departamentos de pozo. All except one of them had favorable results, although none were completed exactly on time, a few months of delays to be able to move in, construction quality so-so and sometimes downright shoddy, but all in all the apartments were completed and they did get their final deeds. The one that did not, had bad luck that went on for several years, the project was shut down mid-point by government inspectors, then builder declared bankruptcy, etc. Ultimately the project was sold to another builder, however the original investors were given the option to back out, but had their money returned to them (in pesos) which almost 3 years after the fact, were worth much less than when they paid in to the project. The best thing to do to judge quality is to visit several projects that the builder has already completed and are occupied, to get an idea of what their standards are. And more importantly a VERY GOOD escribano to assess the terms of the fideocomiso, as these projects are called and protect your interests. If you need the name of a good escribano, I can send you one. Good luck.
 

nlaruccia

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Thank you for the info. Luckly my cousin is an escribano here. But you wouldn't mind sharing what companies your friends invested in? That's the tricky part, because many construction companies are chantas.
 

Davidglen77

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I know one was through this major inmobiliaria in Barrio Norte called M&M: http://www.mympropiedades.com.ar/
I actually looked at some of their properties myself, but didn't end up closing with them. Everything seemed to top notch. What I didn't like about their projects (at least the ones I saw) was that they don't have any natural gas in the apartments. The stove, oven and heating are all electric. Good part was central hot water, no dealing with a termotanque or calefón in the apartment. Living in Buenos Aires, we know what a problem it can be to have EVERYTHING electric.
Two of the others have since left Argentina, but I will try and get in touch with them and get the names.
 

estebandepraga

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My belief in this matter is SEEING IS BELIEVING!
I myself would only buy after its up! and I would only buy an older construction
all of my flats are 80-100 yrs old and still standing strong of course like problems after nearly a century but I bet they will be around another 100 years as we wont!
 

argsteve

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You can find a deal....I am about half way to having a studio built in palermo...

I think the bummer is the time... like 2 and a half years to build something here and it might end up being like 3 years........ you can research the builder and see other projects etc etc... but in Argentina 2 and a half years is an eternity...
 
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