Life in a year full of Saturdays

Saturday, November 19, 2016

Buenos Aires (Argentina) - The Proposal - part (II)

Buenos Aires (Argentina)

The ‘Proposal’ – Part II

17NOVEMBER – 25 NOVEMBER 2016

This second part of the three part blog refers, in the main, to our attempt to buy an apartment in Buenos Aires.

In the months prior to heading to BA I was looking at real estate opportunities all over the globe. Serbia, USA, Dominican Republic, etc. In my research on the buying process in Argentina I wrote the a whole range of things, including the details below, in a 40 page document wrote for just my own benefit, more to sanity check my investment strategy.

I include this except here as it really was the catalyst for coming down to Buenos Aires.

The buying process (ARGENTINA)

Every real estate purchase must go through a special attorney called an ”escribano publico” (Notary Public). This is a crucial part of the transaction as the attorney has the obligation to do the following;

- Check that the seller is the registered owner

- All taxes and duties have been paid

- There is no lien on the property (a lien is the right to keep possession of the property belonging to another person until a debt owned by the property owner to the person in possession is paid)

STEP 1 – RESERVA

An offer on a property (to buy) at a certain price is called the RESERVA. Sometimes this is 5% of the asking price of the property but it can be just $1000USD.

STEP 2 – BOLETO

The Boleto is the pre-binding contract. This is an intermediary step where the seller will receive 30% of the agreed purchase price of the property. It is most commonly used when signing of the title deed transfer is scheduled 45-50 days down the line.

STEP 3 – ESCRITURA

This is the actual closing date when all parties get together to sign the official deed of transfer. This is the point where the buyer takes control of the property. All taxes on the property must be fully paid at the time of the transfer.

The buyer does not need to be physically present to sign the deed if a third party is authorised by a Power of Attorney to sign in their place.

Costs

Common costs with a real estate transaction;

- Realtor Commissions: 3%-4% of the closing value + 21% VAT = (3.63% - 4.84%)

- Money transfer fee: (0.7% - 3%)

- Escribano fees: (1% - 2%) plus 21% VAT = (1.21% - 2.42%)

- Stamp fee: 4.32% - if the price of the property is over 360,000 ARS then the stamp fee will only be paid on the difference between the price (minus) the 360,000 ARS value. This will also be split between the buyer and seller 50:50.

Our apartment searches took us through Palermo and Palermo Soho initially, what's considered to be the trendier barrios of Buenos Aires, mostly due to its bars, cafe, restaurants and high end outlets.. The buildings and apartment blocks that I viewed in the area included new-ish to very new builds. The opportunities we were shown there were good, but not outstanding and they just didn't have the feel that I needed. With that said, after the fact, I have warmed a great deal to Palermo and would very much consider buying into the area now if I had the opportunity.

At that time I believe that buying property was very much like falling in love, when you knew, you knew. That of course goes against the main tenet of real estate, being, that buying is purely a business transaction and emotional reactions need to be completely excluded in favour of the pure numbers. Perhaps that’s true but this buy was was going to be a special one and there was only one thing that I needed to be guided by,my head wasn't required to attend that meeting.

Inga, Davis and I also viewed a few places in San Telmo, all of which had some credible elements but didn’t quite hit the mark…but when that right moment happened, it was love at first sight and it came from an unexpected place.

La Editorial - Bolivar 1610 - San Telmo - Buenos Aires

Calle Caseros - San Telmo - Buenos Aires - Argentina

San Telmo - Buenos Aires - Argentina

I’d been sent photos of the La Editorial building, located on the boundary of San Telmo/Boca, previously. I’d kind of steered clear of it as it wasn’t exactly in my desired location but my mindset changed when I actually viewed the property and also noticed that its standing on the Buenos Aires map, the corner of Bolivar & Caseros, just a short hop up the street from Parque Lezama, was actually fairly decent. A very attractive part of the world in a hidden section of Buenos Aires, it felt like it was a small pocket of Buenos Aires designed just for me. It was brilliant, and of course, perhaps more importantly, the apartment was also. It didn’t take long for us to make the decision and start the transfer process into the Elisher name. I believe the moment we were a few steps away from the building we both were of the understanding that our search had ended. The architecture on Caseros in particular had that familiar old world style charm, coupled with some nice bars and restaurants, it just felt like the right place to be and one that in the future we'd inevitably enjoy.

Viewing properties, whilst the primary focus of our stay, was not all that we came here to do.. Of course I’d also organised some cool activities for the gang in our free time which allowed us to take in the Buenos Aires experience from a different perspective. The first was the Photo Ruta Photography Excursion – this provided us the opportunity to walk around a part of BA, in this instance Palermo with a photography specialist, who would act as guide, not just in terms of location but also in terms of providing instruction regarding elements of photography such as light, shape, viewpoint, pattern, movement etc. Her objective was to allow us to take in the sights from ‘behind the lens’. The lens in this instance being the omnipresent camera we all have in our back pocket, an iPhone camera. Coupling our iPhone with the additional utilisation of a photo editor, Snapseed, we discovered made for quite a powerful image making tool.

Without question I'd have to say that the Photo Ruta Photography Excursion was one of the best experiences we've had when considering value for money, sightseeing and the information provided. All three of us enjoy taking photos but even after only 20 mins we recognised the direction we’d been given was altering the nature of our photos and allowing us to capture, in quite a unique manner, a very photogenic part of the city. With that said, Buenos Aires is extremely photogenic in its entirety. Some cities just lend themselves to being captured in photos. BA has that charisma and spunk in spades.

Foto Ruta Photographic excursion - Palermo - Buenos Aires - Argentina

A lot of the photos we took during those hours in Palermo were very good but there were some, that in my personal opinion, were great and really gave an interesting aspect to a part of the city that we'd not taken the time to become involved with. My personal preference has always been the southern part of BA, specifically San Telmo, but after this little escapade I can very well see myself spending more time in Palermo during future visits.

Foto Ruta Photographic excursion - Palermo - Buenos Aires - Argentina

Another great event that we signed ourselves for was the Argentine Experience. Basically this is a dinner concept experience where participants get taught the fundamentals of Argentine cooking and what it is to be Argentinian, whilst enjoying dinner, and of course, consuming copious amounts of Malbec. The whole event was just fantastic. Quite often the experience you have in situations like these are dependent upon the entire interaction of your group. Considering there was three of us we represented a relatively large chunk of that group which meant we could move in and out of exterior interactions with ease and not be unduly forced to interact.

Argentine Experience - Fitz Roy 2110 - Palermo - Buenos Aires - Argentina

The night itself was a lot of fun. From making our own empanadas, to ordering our style of steak in the exact manner that we wanted, to the dulce de leche, to once again….the Malbec. When wine and conversation flows and the experience is interactive then you usually find that fun and enjoyment is there to be had. It was a blast and I can understand why Tripadvisor has it ranked so highly on its 'to do' list.

Four Seasons Hotel - Buenos Aires - Argentina

Frank's Bar - Palermo - Buenos Aires - Argentina

Our final stop in Palermo was at Frank’s Bar. Now anyone that knows me will also know that I have a thing for hidden speakeasies. Frank’s Bar certainly met all my requirements of needing to be cool, faux clandestine and somewhat difficult to get into. To get in basically you need to be able to decipher a series of clues that appear on the bar’s Facebook page each week. On arrival the requirement is to give that password, verbally, to the doorman, who in turn will provide you with a numerical code. That code is what you utilise once you step inside the entry phone booth and locate the numerical panel, which acts as the unlocking device to the world beyond. Opening up to the world ‘beyond what you know’, Frank’s delivers a relatively understated but sophisticated style of bar. Admittedly if the bar was located anywhere else and you could simply walk in, well, the novelty would of course undo the entire attraction. It would in fact be a reasonable bar with overpriced drinks. Still, I’d always wanted to go there and somehow knowing about a cool place in a city on the other side of the world made me feel kind of cool myself.

This ends Part II of ‘The Proposal’ – click here for Part III, which takes you to a blow by blow account of the actual day.

Thursday, November 17, 2016

Buenos Aires (Argentina) - The Proposal - Part (I)

Buenos Aires (Argentina)

The ‘Proposal’ – Part I – a place to call my own

17NOVEMBER – 25 NOVEMBER 2016

Argentina and Buenos Aires has left an indelible mark upon me. No other place in the world, other than the city I grew up in (Sydney), and the city that I associate with my family, and where I lived for a few years (Belgrade), has allowed me to feel as at home, feel as comfortable and be in my place as Buenos Aires. Ever since I fell for this city back in 2010 all I ever wanted to do was to carve out a piece it and have it for my very own. Somehow that opportunity had now arrived. This was now my time.

First stop Rio de Janeiro - Brasil - just a transit port this time

This is exactly the feeling you have after 14 hours in the air

Rio Gallegos Airport - Brasil

Sometimes when your stars start to align or when your plan starts to come together, you begin to see reasoning behind how the pieces of the puzzle actually managed to fit. You see what was once disparate reasoning, which never truly made sense, all of a sudden form that needed single view, that picture of complete clarity.

I’d been within Inga for 18 months at this point and had known for quite some time that I wanted to ask her to marry me. Now, as any man will tell you when they’re faced with the various facets of this scenario, your mindset immediately goes into planning mode, Where will I ask? How will I ask? What sort of ring would she like? ...there are in fact endless questions to which answers need to be found.

In the weeks where these questions formed and started to turn over in my mind there was a point in time where most of those unknowns became clear. My first requirement was that I needed to set the premise, or the proposition to Inga about the location. This step I’ll call laying the foundation. There had to be a logical reasoning for wanting to head to the deep south other than the notion of just wanting to go for the sake of it. That in itself would bring up more questions that I wanted to answer in a situation where I needed to be as clandestine as possible.

San Telmo - Buenos Aires - Argentina

Cafe con leche - Plaza Dorrego Bar - San Telmo - Buenos Aires - Argentina

Plaza Dorrego Bar - San Telmo - Buenos Aires - Argentina

Inga of course knew that I'd always had a goal of buying a place in Buenos Aires. The time for simply wanting and forlornly looking through real estate advertisements was now over. So what better way to get serious and make the idea a reality than being on the ground in your destination city, to get a look and feel of a place and particular location in the city that we're both very fond of. Of course it was obvious in the end and my reasoning to her made it obvious, we just had to go to Buenos Aires...of course we had to go to Buenos Aires...in order to propose and buy an apartment – wrapping it ALL up into one unforgettable memory. Now that would be something that just couldn't be beaten.

In my planning therefore I started to consider what I’d like to call, the sweetener. What could I do to elevate the entire experience into something even more unforgettable? To me, in order to heighten an experience you need to be able to share it. It gives the experience a different perspective, energy and degree of excitement. So, I threw out the option to Inga. Why not ask her brother Davis to come down to Buenos Aires with us? We could show him around the city that we love, have him experience something totally different to Europe and of course get his feedback on our potential apartment purchase.

….so the plan was activated and put into action – on the 17^th of November, 2016 it was due to commence

Landing in Buenos Aires on 17 November 2016 made it my 7^th time in this wonderful city since my first time in 2010 .Not bad for a Sydney boy with absolutely no affiliation to the country other than his love of meat, Malbec, Messi and football.

That feeling I have when driving from the airport in Ezeiza is always the same. Excitement, energy, anticipation, only that this occasion it felt like an arrival on steroids. Overwhemling anticipation that would lead to a proposal, potentially an apartment purchase and also Inga’s brother joining us for the whole adventure, well, this was going to be epic.

Typically Inga and I find ourselves hiding out in the barrio of San Telmo when we stay in Buenos Aires. This is the oldest barrio in the city, the most atmospheric and the one that has the most character. It’s colonial buildings, cobble stoned streets, antique shops, parrillas, tango parlours and cafés all combine to make this part of the city truly special, but also, Inga and I have a lot of great memories that have been banked away from occupying this corner of the world at various times.

San Telmo - Buenos Aires - Argentina

La Brigada Parrilla - San Telmo - Buenos Aires - Argentina

San Telmo - Buenos Aires - Argentina

Cafe Tortoni - Avenida de Mayo - Buenos Aires - Argentina

Walking in San Telmo - Buenos Aires - Argentina

Walking into Plaza Dorrego Bar one morning we were greeted by the smiling face of a waiter that we’d gotten chatting with on previous occasions. Plaza Dorrego Bar is an old school café across Avenida Defensa from Plaza Dorrego itself. The waiters are all male and have the standard black tie, black vested uniform that makes you think of a bygone era – a classic, evocative, old school space with traditional Argentine style chequered floors, a weathered wooden bar and wooden tables. It has that old musty smell that just melds perfectly with this section of the city, and I have to say, is a favourite morning spot for me in San Telmo. My order is always the same, a cafe con leche y tres medias lunas. Our waiter already knew, it was saying my order to me at the same time that I was.

Davis flew into Buenos Aires the next day. His arrival added a totally new dimension to our time here. It almost felt like we were showing him around our home town. I felt the same way I’d feel if I was guiding someone around Sydney, of course, you want them to like your town and you feel its your job to show it off to the best of your ability…which is what we absolutely did, and in spades.

From the day that he joined us on Defensa with the traditional Sunday afternoon markets, we guided him to all of the spots that were both known and loved by us. Starting in San Telmo, post market day, we showed him the Che mural on Pasaje San Lorenzo, walked around the old antique stores and cobble stoned streets, ending up at the famous Parrilla La Brigada in the evening for a round of Malbec and steak, their famous moniker being that their steak is so soft ‘that you can cut it with a spoon’.

Cafe Tortoni - Avenida de Mayo - Buenos Aires - Argentina

El Ateneo Grand Splendid - Avenida Santa Fe - Buenos Aires - Argentina

Bar El Federal - San Telmo - Buenos Aires - Argentina

Avenida President Roque Saenz Pena - Buenos Aires - Argentina

Buenos Aires - Argentina

Of course, we also spent some time down in the colourful barrio of La Boca. An historic and proud barrio of Buenos Aires located next to the city’s port where the Riacheulo River meets the Rio de la Plata. This area has always been known as poor part of town. In some ways bleak, very industrial and rough, the barrio can be intimidating if you find yourself strolling into its unsafe areas. Tourists are constantly warned not to stray off the well trodden paths for the sake of getting robbed. The main area of Calle Caminito however is rather kitschy and largely touristic. Filled with cafes and open air tango shows it’s the typical tourist trap that you'll find anywhere in the world. Of course you can get off the beaten track but perhaps not best down in a solo manner. Still, for what it is, it’s worth showing, even from an historical aspect of the city and in terms of photography. The colours and the theatre just make this area stand out in photos.

Retiro - Buenos Aires - Argentina

Four Seasons Hotel - Calle Posadas - Buenos Aires - Argentina

La Brigada - San Telmo - Buenos Aires - Argentina

Calle San Lorenzo - San Telmo - Buenos Aires - Argentina

Feria in San Telmo - Defensa - Buenos Aires - Argentina

Feria de San Telmo - Avenida Defensa - San Telmo - Buenos Aires - Argentina

La Brigada - San Telmo - Buenos Aires - Argentina

La Poesia - San Telmo - Buenos Aires - Argentina

La Brigada - San Telmo - Buenos Aires - Argentina

Our path through Buenos Aires on this occasion was largely dictated by my apartment hunting. I’d orchestrated my search was with the assistance of a well known BA consultant, Michael Koh, who’d put me in touch with an agent he trusted and had worked with previously. I found Michael online after a fair amount of research. Essentially, in his role as a consultant, he assists foreigners like me, who are interested in real estate investments either in Buenos Aires or Argentina, to go through the ‘discovery’ and contract process. A process, which without prior knowledge, can be quite complex and being Argentina, inevitably takes many twists and turns. He was, without question, the consummate professional and made himself available to answer my queries at all times. Absolutely phenomenal guy I have to say.

La Boca - Buenos Aires - Argentina

La Boca - Buenos Aries - Argentina

La Boca - Buenos Aires - Argentina

Michael’s recommendation of looking outside of my favourite barrio, San Telmo, therefore extended our search out to Palermo, Palermo Viejo and Palermo Soho. These areas are typically known as the trendiest parts of the town, so coupled with real estate viewing we took to showing Davis parts of the town that were within our search zone. So aside from the old staples like Café Tortoni and Recoleta cemetery, we also took in a dinner at Don Julio in Palermo, which incidentally in 2018 made it to #6 on the list of Best South American restaurants, https://www.theworlds50best.com/latinamerica/en/the-list-2018/Don-Julio.html currently #55 in the world.

Another evening we were back in Recoleta and took to seeing the wonderful Fuerza Bruta (Brute Force), a post-modern theatre production that incorporates music, theatre, light shows, water, smoke and a plethora of interactive engagements in a setting that completely surrounds you. As a member of the audience you effectively stand in the middle of the stage as the performance takes place above your head, on the walls, on the front stage, everywhere. It’s so completely immersive, mind blowing in its action and free flowing, it pushes and pulls you in all directions. I’ve only ever seen the show in Buenos Aires, and even though it can now be seen in cities around the world, the concept and production originated in this city.

Cemetario de Recoleta - Buenos Aires - Argentina

Buenos Aires - Argentina

Cemetario de Recoleta - Buenos Aires - Argentina

Don Julio - Palermo - Buenos Aires - Argentina

Cafe Tortoni....this guy....'Siiiiiiiii'

Cafe Tortoni - Avenida de Mayo - Buenos Aires - Argentina

Of course the hits just kept coming in terms of experience as post Fuerza Bruta we hit the Hard Rock, the Four Seasons for drinks and then went to Floreria Atlantico, another Buenos Aires highlight, ranked #14 in a list of the World’s Top 50 bars, http://www.worlds50bestbars.com/fifty-best-bars-list-2018/?ist=11, this place is one of those cool, interestingly hidden places, where you could easily walk by on first passing. From the outside it’s just a florist shop, and indeed during the day that’s all at is, but this late night florist holds the coolest secret. Through a non-descript door you descend the stairs into a very cool Latin American speakeasy. Admittedly it’s not my favourite bar in Buenos Aires as it gets packed quickly and early here, and really, there’s just better set-ups around, but with that said, the drinks here are on point. The bartenders now what they’re doing and the drinks are special.

Life in a year full of Saturdays

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Saturday, November 19, 2016

Buenos Aires (Argentina) - The Proposal - part (II)

The buying process (ARGENTINA)

STEP 1 – RESERVA

STEP 2 – BOLETO

STEP 3 – ESCRITURA

Costs

Thursday, November 17, 2016

Buenos Aires (Argentina) - The Proposal - Part (I)

Fan favourites

A year full of Saturdays