| |
| |
|
Real Estate Information |
|
|
|
Condo-Hotels - A New Second-Home Alternative to Time Shares
Condo-hotels have evolved as a better, more reliable second home alternative to time-shares. They are usually attractive, high-rise hotels on the ocean or in other prime locations, and range in price from the mid $200,000s to over 1 million, depending on the size, location, and amenities. Many of the biggest names in the hotel industry have condo-hotel buildings, including Hilton, Four Seasons, Clarion, and Ritz-Carlton. Donald Trump has numerous condo- hotel facilities across the country, including a building in Fort Lauderdale and another in Sunny Isles, Florida. In general, condo-hotel properties have been highly successful with all or nearly all units selling out within months of the first offering. For example, the Ritz-Carlton Key Biscayne is a beachfront property with 188 condo-hotel units, all of which sold out a year before the building was even finished. Needless to say, the values of the condo-hotels in this building have gone up significantly. There are several reasons for the popularity of condo-hotels. When you purchase a property, you purchase a condo unit in the hotel. Unlike a time share, you have access to the property whenever you want, and it is put into a rental pool when you are not in residence. Although developers can't guarantee the properties will rent, management by a well-known hospitality group will typically result in several weeks of rental income. This is one of the biggest appeals of condo-hotels because the rental income can offset some of the costs of owning a vacation property. In addition, the management company takes care of renting the unit, using their connections and expertise. You don't have to worry about any of these details. Most rental agreements split the income 50/50 between the management company and the owner. However, some properties offer more favorable arrangements, and this is another aspect to consider when deciding which property to purchase. Despite the fact that the property is in a hotel setting, a condo-hotel is considered a private residence, and owners are eligible for mortgage interest deductions and all the other tax advantages that come from owning a second home. However, most condo-hotels do not allow you to live in the unit year round. This is because the management company wants to rent out the unit when you are not there, so both you and they can profit from that rental income. Each condo-hotel property has its own residence restrictions that indicate the maximum amount of time you can live in the property. This is an important piece of information to consider before purchasing a condo-hotel unit. Most owners do not intend to live in their condo year round, so this is not a concern in typical circumstances. Why not just rent a hotel room? In addition to the investment aspect, condo-hotels usually offer more room than a standard hotel room. Most suites are one or two bedrooms, and larger units are available. Condo-hotels typically have cooking facilities and other homey features that hotel rooms do not. This makes it ideal to have family stay with you when they come to visit. With the advantages they offer over time shares, it's easy to see why so many people looking for a vacation property investment they can also enjoy when they want are now looking at condo-hotels. For more on finding and buying the right condo-hotel, check out Make Your Next Home a Resort, the 2005 Guide to Condo-Hotels, Fractional Shares and Resort Residences. You can download the Guide as a pdf file at http://www.InvestingIN.com/realestate/resorts/resort4u.htm Leon Altman is the founder of the InvestingIN Real Estate Letter - http://www.InvestingIN.com/realestate/LtrSignup3.htm - and its parent website, http://www.InvestingIN.com - a website that provides articles and newsletters about opportunities in different areas.
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
Realtors - Self Promote Your Way To Success Okay, so we all can agree - listings are the lifeblood of the real estate industry. And if the keys to selling them are location, location and location, then the challenge in getting them is self-promotion. Real Estate Investing - The Dream House Effect Several years ago I developed a philosophy in renovating houses which resulted in a finished product that I call a "Dream House" or "Doll House."How many houses on the market today look very ordinary and less than perfect? How many look "Plain Jane?" What is the difference between these "average" houses and the house on the block that is strikingly different at even the distance of a windshield view?The pronounced difference in the outstanding property offered for sale might be brilliant new lawn grass. 5 Rock-Solid Real Estate Investment Strategies Investing in real estate is more complex than simply buying and selling homes. To help new real estate investors to decide which strategy might work for them I put together 5 rock-solid strategies. Prepare Your Rental Property for Occupancy Among your many responsibilities as a landlord, the law provides for a warranty of implied habitability. This means that the dwelling must be considered habitable and any known problems must be fixed before you allow a tenant to take occupancy. Flipping Houses for Gold: Three Tips to Help You Find the Perfect Fixer Many real estate investors enjoy "flipping houses," or buying and selling houses quickly for profit. Not all flips are fixers. Investing in Real Estate Profitably: Financing Options for Purchase of Rental Houses, Part 1. This is not an article about tricks for 100% (no money down) financing. Even if you do take advantage of various no money down strategies from time to time, these strategies are not generally applicable when you begin investing systematically in multiple rental homes with the goal of making significant rental income. How to increase the Saleable Value of your Home When selling your home, you'll want to fetch the best price possible for your home yet it so happens in many cases, that buyers give offers that just don't meet your expectations. Of course, you will have to negotiate but you still may not end up getting how much you want. Dramatic Profits From Preconstruction Real Estate Investing The preconstruction process is an innovative real estate investment opportunity in which you buy tomorrow's property at today's price. Preconstruction investing is a boon for the investor or buyer as well as the developer or builder. What's Your Style? A Guide to America's Most Common Home Styles Styles of houses vary across the country. From the New England Cape Cod to the Victorians of San Francisco, the choices are almost endless. Virtual Agent? Online Real Estate When preparing to sell a house, you should always consider the options of selling a home privately or listing with a real estate agent. Of course, the most cost effective option would be to sell your home privately, but what about the number of Home Buyers in the market who are not willing to consider a private sale listing?I am a firm believer that people should be able to sell a home privately but, like a lot of people, was not the kind of person who would be comfortable buying from a Private Home Seller. Property Investors, Scrub Your Thoughts and Start Again - Brazil, Brazil, Brazil! Brazil Property - FortalezaThe PlaceWhat to do in a place like this - You can swim, surf, dive, sail, golf, play ball, ride, explore, bargain hunt, sight see, explore, drive a dune buggy for 100 miles in any direction, or take a jeep up a steep mountain trail. You can explore environmental preserves, or just swing in a hammock and do nothing at all. Boom or Bust For those looking to invest in the real estate market?keep your eyes on the headlines. According to the Federal Deposit Insurance Corp. Why Do Realtors Advertise Your Home in Print,on the Radio, on Television, etc.? Why Do Realtors Advertise Your Home in Print,on the Radio, on Television, etc.?Realtors represent a huge part of the national advertising expenditure each year in newspapers, magazines, radio and television. Investing in Real Estate for Your Retirement (and Now!) You've probably heard a lot of opposing information about Investing in Real Estate, which is completely annoying! The straight-forward fact about Real Estate is that it is probably the best and safest investment you'll ever make, especially if you live in it, and that you are far more likely to make money in this market than with any other type of investing. The chances are very slim that you'll wake up one morning and the housing market will have dropped by 40%. Finding, Fixing, Financing, and Flipping - The Short Course Most people get involved in Real Estate investing to make money.Pretty self-evident - or, is it?What would you say if I told you that everything you have been taught about Real Estate investing and making money "rehabbing" your real estate investments is wrong?Well, at least, much of it!Let's take a look at something that all too many people don't think about in their real estate investing - something that seems to be a secret formula to bringing in the most cash from your real estate investments. Time Is A Major Real Estate Wealth Growth Tool, So Use IT And Watch Your... In Real Estate "Time" is a Wealth Development ToolsReal estate wealth,From The Desk Of Colm DillonHello, Colm here .. The Person With The Most Money Wins! More money can mean better:- Health Care - Relaxing Vacations and Adventures - Education for your children or yourself - Better home than you have nowBest of all it can reduce stress from not having to worry about money!Many of us have problems in life that additional cash will help solve the situation. Did you know that 80% of problems in life could be simply resolved with additional cash. Real Estate Bubble: Fact or Fiction? The real estate market buzz across the country these days revolves around the anticipated and much feared "bubble". The implication is that once burst, prices will spiral downward taking with them the major assets of those foolish enough to buy at a time when disaster looms large. Buying New Construction...How Do I Begin? The prospect of shopping for a new construction residence can be quite daunting, but the rewards of owning a brand new home out-weight the disadvantages if you know the potential pitfalls. The following are important considerations: Overall Dollar Budget, Location, Cost Per Square Foot, Finishes, Upgrades, Parking and Delivery Date. Investment Concerns for Selling Your Home Besides the emotional upheaval of uprooting from your home, your property is most likely the biggest investment you have ever made, and its sale causes financial stress as well. You must protect your investment nest egg and secure your future.
|
| home | site map |
| © 2006 |