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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.
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TORONTO , May 17, 2012 /CNW/ - The Ontario Real Estate Association (OREA) applauds proposed legislation introduced today at Queen's Park that, if passed, would facilitate the use of electronic agreements ...
TORONTO, ONTARIO-- - Calloway Real Estate Investment Trust is pleased to report strong results for the first quarter ended March 31, 2012.Highlights:-- Maintained portfolio occupancy rate at the 99.0% level for the ninth sequential quarter. -- Funds from operations increased by 14.4% to $54.6 million and 5.1% to $0.434 on a per unit basis compared to the same period in 2011 ...
TORONTO, ONTARIO-- - InnVest Real Estate Investment Trust announced today that a distribution of $0.0333 per stapled unit, payable on June 15, 2012, has been declared to the holders of record as at the close of business May 31, 2012. The distribution is $0.0333 per unit of InnVest Real Estate Investment ...
TORONTO, ONTARIO-- - RioCan Real Estate Investment Trust today announced a distribution of 11.5 cents per unit for the month of May. The distribution will be payable on June 7, 2012 to unitholders of record ...
TORONTO, ONTARIO-- - Allied Properties REIT today announced results for its first quarter ended March 31, 2012. The results are summarized below and compared to the same quarter in 2011: Q1 2012 Q1 2011 ...
TORONTO, ONTARIO-- - Allied Properties REIT announced today that the Trustees of the REIT have declared a distribution of $0.11 per unit for the month of May, 2012, representing $1.32 per unit on an annualized basis. The distribution will be payable on June 15, 2012, to unitholders of record as at May ...
TORONTO, ONTARIO-- - Allied Properties REIT announced today that it has entered into an agreement to purchase the following property for $61.75 million: Address Total Office Retail Parking GLA GLA GLA Spaces ---------------------------------------------------------------------------- Lang Tannery ...
TORONTO, ONTARIO-- - Canadian Real Estate Investment Trust announced it has acquired an additional 25% interest in certain components of Dartmouth Crossing Shopping Centre located in Dartmouth, Nova Scotia, ...
TORONTO, ONTARIO-- - Canadian Real Estate Investment Trust today announced its May 2012 monthly distribution in the amount of 12.42 cents per unit . The May distribution will be payable on June 14, 2012 to Unitholders of record May 31, 2012.CREIT is a real estate investment trust focused on accumulating ...
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REAL ESTATE ARTICLES
18 Easy Steps to Buy a Bargain House
What is a "distressed" property? What is "bargain" real estate?A distressed property is one with a distressed seller. Job loss or transfer, divorce, death, pending foreclosure, and lack of money cause sellers to sell fast for less.
How to Use the Internet to Help Your Apartment or House Hunting
So you are looking for an apartment to rent or a house to purchase. One of the most important steps is researching the neighborhood to decide if you really like to live in that area.
Real Estate Investing - The Marvel Of Home Depot And Lowes
Repairing a rental home (or your own home) use to require running down to the local hardware store or to the nearby building supply house. After several stops around town, you found everything you needed to solve your maintenance problem.
Property Investing - Port Melbourne Life on the Edge
Property investing prices pick up following a cooler winter last year. Susannah Petty Reports.
San Diego Real Estate, Million Dollar Homes
San Diego county has always been known for its Luxury Homes, yet in 2004 San Diego County luxury home sales (homes over $1,000,000) hit an incredible 2774 total units, an increase of almost 170% over total sales in 2003!In the entire State of California, A total of 33,107 homes sold for a million dollars or more last year. That was up 73.
New Homes in Ridgefield
Location:Frequent travelers will absolutely delight in this town! As part of the southwest section of Connecticut, Ridgefield is a convenient town to live in since it is only miles away from both the New Jersey Tri-state area and New York City. It is also close to its neighbor, Danbury, and has a steady population that continues to grow.
The Nose Knows
If you plan on getting the most from the sale of your home you better be sure it can pass the "sniff" test. Let's face it your home should smell good.
Real Estate Wealth Protection Through Short Sales
Is a sharp correction in store for the real estate market?Fannie Mae, the largest buyer of mortgages in the US, is
worried. They recently warned that the probability of a
housing bust has risen sharply in certain parts of the
country.
Boston Real Estate - You Still Have Considerable Control Over the Sale of Your Boston Home
Boston real estate is a hot topic. Daily newspaper articles comment on whether or not a bubble exists in the Boston real estate market, when and if it will pop, how interest rates affect the market, why Boston residents are snapping up interest-only loans, and how foreign investors in our treasuries keep interest rates low.
Property Investing Secrets 3
Property Investing Secrets: When you Make Property Easy to Buy for People Using Vendor Finance It Is Easy To SellWhen property investing, my goal is to make it easy for people to buy my properties, that's why I offer vendor finance. You have the advantage when you buy properties from sellers when property investing.
Five Things to Help Sell Your Home Fast, and For More Money
Selling your home requires some thought and a clear plan of action. Here are five things to consider when you're getting ready to sell your home:1) Know Your BuyersAre most of the homes in your neighborhood being bought by first-time or move-up buyers? Depending on which group will be looking at your home, you'll want to do the things that will make your home appealing to those buyers.
Real Estate Appraisal - Rental Properties
Real estate appraisal for rental properties isn't the same as for single family homes. If you were looking at a 24-unit building, it would be difficult to find similar ones nearby that have recently sold.
Houses For Sale By Owner - Negotiating Tips
Houses for sale by owner, also known as "FSBOs," are a unique case in real estate investment. Buying from an uninformed seller who thought he knew enough to handle everything by himself can be frustrating.
Industrial Income Property Financing: Part 3 of 3
Financial ConcernsOf the three types of income property, industrial property requires the greatest degree of technical expertise and experience. Likewise, financing the acquisition of an industrial income property can be, at best, very risky without adequate planning and know-how.
Youre Not Paranoid: The House Really Hates You
If you've just bought a house, you may be able to relate to a fascinating essay in Maya Angelou's book, Even the Stars Look Lonesome.When Ms.
Real Estate Lease Option Danger
Why are real estate investors having so much success
offering "rent to own" homes?Lease-options offer home ownership opportunities
to folks with little cash and not so hot credit.Oh boy, there are plenty of those around.
Flipping Fixers: Using Transformation Psychology for Top Dollar
Satisfying and lucrative real estate investment depends upon your correct assessment of profit potential, of course, but your ultimate success depends on your ability to transform a fixer into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits.
Ten Big Mistakes That Will Lose That Property Sale
If you are serious about selling your home, you probably go to a huge amount of effort when you show potential buyers around your property. You clean the bathroom until it sparkles; vacuum the carpet; brew coffee or bake bread; maybe you even banish the kids to their grandparents, but did you make one of these Ten Big Mistakes that can lose the sale - but are so easy to avoid.
The Real Estate Cycle
The real estate cycle, like the business cycle, refers to the activity of the real estate market as it reacts to the forces of supply and demand.Supply and demand.
Real Estate Business
Starting real estate business is not that simple. Multiple aspects of stable business should be considered before you invest even 1$ in real estate.
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