Investment Concerns: Buildings Exteriors Not Maintained (pics)

#1 (**permalink**) 06-07-2008, 04:49 PM

Building exteriors in Latin America/Brazil... they always seem to look terrible. We pay high adminn/condo fees, yet exteriors are rarely cleaned like US/Europe. Salvador, Bahia is worst in Brazil, Cali worst in Colombia. You see same **** in Portugal, but not so much Spain. Brazil much worse than Latin countries. Example pictures shown. Strata five areas.

John Wayne · #2 (**permalink**) 06-07-2008, 05:50 PM

I have no idea why things seem to be so boxy looking and designed....I want my next house to be round, so I cannot start putting things in the corners...

LastLion · #3 (**permalink**) 06-07-2008, 06:00 PM

Geez ray, I share all my beautiful fotos and you share this!!! I guess it aint rosy in LAM all the time!!! HOW ABOUT SOME POWERWASHING someday!!!!!!!

Barichara

John Wayne · #4 (**permalink**) 06-07-2008, 06:06 PM

Keep ém comeing King Lion, a picture is worth a thousand words....

I am still in the learning phase.....

Triping on down the cobble stones....Lalala Feelin´Groovy....

Dam, I was a youngester then....

#5 (**permalink**) 06-07-2008, 07:01 PM

The best and the worst.

The worst I have seen was in Panama. Paint was peeling off or gone altogether. You would be hard pressed to make a living if you were a house painter.

The best were the apartment buildings on the ocean bluff in Lima. Those buildings were immaculate.

#6 (**permalink**) 06-09-2008, 04:04 PM

A friend owns a Flat in building shown (top right apartment), and as you can see ugly black molding, more than one year later and no signs of exterior cleaning. This resident building is located in the best area of a major city in Brazil and monthly maintenance fees run him $400.00us -/+. His complaints are responded with 'em breve, em breve'. That said, let this serve as a lesson to be sure the maintenance company performs required diligent duties consistently as outlined in the maintenance contract. Otherwise, you’ll have no recourse and your real estate investment could depreciate. Exterior pressure cleaning is cheap and should be performed at least once a year.

Airto · #7 (**permalink**) 06-09-2008, 04:31 PM

Ray, isn't here a representative of the city or province that your friend can complain to, someone has to be concerned with the way place looks especially if it was influence how much its worth. If everyone is paying 400 USD a month in fees that is more than a enough clean the outside of the building and keep a fresh coat of paint on it.

#8 (**permalink**) 06-10-2008, 05:03 PM

Quote:

Originally Posted by Airto

Isn't here a representative of the city or province that your friend can complain to, someone has to be concerned with the way place looks especially if it was influence how much its worth. If everyone is paying 400 USD a month in fees that is more than a enough clean the outside of the building and keep a fresh coat of paint on it.

Airto -

This is nothing new in SA real estate marketplace. We were looking to invest in Barajas but after seeing exteriors like this more than eight months, no way. This resident condo-flat building resides in a great area of major city in South America. Monthly condo/admin fees arun $300.00us -/+. Complaint responses are always "sim, em breve, em breve".

Bottom line: Let this serve as a lesson to investors. Cover all bases, research the area, building, people to the tilt and watch your perspective property three months minimum. My buddy is disgusted and wants to sell, but in today's real estate market, he simply can't. He has no recourse but to wait a few years when the market comes back.

Airto · #9 (**permalink**) 06-11-2008, 05:04 AM

Quote:

Originally Posted by Gringos.com

Airto -

This is nothing new in SA real estate marketplace. We were looking to invest in Barajas but after seeing exteriors like this more than eight months, no way. This resident condo-flat building resides in a great area of major city in South America. Monthly condo/admin fees arun $300.00us -/+. Complaint responses are always "sim, em breve, em breve".

Bottom line: Let this serve as a lesson to investors. Cover all bases, research the area, building, people to the tilt and watch your perspective property three months minimum. My buddy is disgusted and wants to sell, but in today's real estate market, he simply can't. He has no recourse but to wait a few years when the market comes back.

LOL, em breve, em breve - em outras palavras talvez nunca