eard all the buzz about expectations, think of the
condo hotels? Ready to revenue generated by your condo
explore this type of hotel unit in the rental program
vacation home product? Then be as helping to offset your costs.
sure you understand what's
involved.
Buy in Pre-construction to
While many people see condo Maximize Appreciation Potential
hotels as investment tools,
developers, in accordance with As for potential appreciation,
Securities Exchange Commission like any real estate, if you buy
regulations, sell them only as at the right time in the right
real estate. They suggest that location, you can make money. In
you focus on the benefits of the case of a condo hotel unit,
owning a luxury home that usually buy in early pre-construction
comes complete with four-star or stages and you have the best
higher hotel services and is chance of realizing appreciation
located in a highly desirable when you eventually sell.
vacation destination.
That's because as the condo hotel
Rent Revenue Offsets Your Costs is being built, developers
implement planned price increases
While it's true that one of the at various stages of the selling
key benefits of owning a condo process. Plus, real estate in
hotel unit versus a traditional great locations has historically
condo or vacation home is that appreciated over time.
you'll receive some rent revenue
when you're not using your unit, Keep in mind that your actual
cash flow should not be the main profit, of course, depends on the
reason to buy. To set realistic general market conditions,
interest rates and competition. compete with you to sell their
remaining units.
Is Flipping Allowed?
Nonetheless, if you buy a quality
Can you sell before closing? property in a good location, you
While flipping was a common could end up with not only a
practice a few years ago, today great second home but a real
most condo hotel developers do estate investment that
not allow investors to sell appreciates with time and will
before closing on their unit and net you a profit when you sell.
clearly state this item in their
contracts. They don't want to
About the Author:
Joel Greene is the President of Condo Hotel Center located in Miami Florida, which specializes in the sale of condo hotels. Visit his web site, http://www.CondoHotelCenter.com to see condo hotel listings, photos and prices. You can also sign up for his free Property Alert newsletter to be notified when new condo hotels come on the market.
Source: www.isnare.com
