Dazed & Confused
Active member
This was ultimately why we didn't end up buying real estate in Buenos Aires. The property we did like the owner demanded cash.@Todd yes it's been quite a ride in Buenos Aires the past 2 decades. I started buying at the bottom after the big corralito crash at the end of 2001. I know the cash part sounds crazy but you can definitely mitigate risks. I answered your PM.
Here is a photo of what the typical closing looks like. I took it at one of the closings I did several years ago. I think it was a $300,000 USD deal. My record cash deal was $3.5 million where the seller demanded to get paid in cash. I bought a building in Recoleta that I turned into a boutique hotel. It was surreal being in the basement of the bank with vacuum-packed cash from the USA Federal Reserve Bank.
View attachment 4009