The possibility of investing in real estate in the United States, from Argentina or any other place in Latin America, without having prior knowledge and without the need to actively get involved, was one of the objectives pursued Marcos Victorica, CEO of BAS Storage. And this is what he explained during his participation in the “Real Estate Summit” of Scope Debate.
Through a video conference from Miami, Victorica spoke with Ámbito journalist Ariel Basile and told how she created the company and what opportunities it offers to investors: “When you come to a country like the United States, you don’t have to be afraid of doing new things. It’s not all invented. We invent a product: we combine different things that already exist. My vision was to open a door for the large mass of Latin American investors who do not know how to invest in the United States, in real estate automatically, without risk and without knowing about the subject. There are small and large investors. We find the most important and most stable industry, which is the storage. When I saw that, I thought it was the product to open the avenue that allows any Latin American saver to invest. To that we added a rental contract with a fixed income with us.”
In that sense, he highlighted that the process to make the investment is “very simple.” “It’s automated. The investor chooses a property, which is a warehouse, which are small units, and only with a photocopy of the passport, transfers the money, and receives proof of the property title and a rental contract with us. The only thing they do is, every three months, receive the money in their checking account, which can be anywhere in the world,” said Victorica.
Meanwhile, when analyzing the reality of real estate in the United States, Victoria said: “Real estate is relatively hit by the interest rate. Here it is all credit and the rate went up from 2 to 5, but if you are looking for a loan it is difficult to get it for less than 8%. The buyer’s rate was tripled. That has some influence. But the perspective is that the rate stops rising and starts falling. The market is good, but much slower than two years agos. But Florida is an exception: since covid, there are many people who moved to Florida, so the market is good.”
Between the advantages that the investor has, he highlighted: “You don’t have to worry about anything. Charge a net rent. Another big advantage is that the units start at US$20,000.. That is to say, someone who invested a lot of money, for example US$400,000, can sell part of it.”