In this video, we will discuss how to tell if you are about to purchase a vacation condo that is a Condotel, and if so, what does that mean for you. We will go over what to look for and what is means with regard to financing.
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@user-gq7gr4ge4j13 күн бұрын
I did not hear if they are good investments or not. I would like to buy one, but I am worried about the current climate(investmentclimate). Thanks for your knowledge.
@DanielJMurphyRealEstate11 күн бұрын
They can be great investments if you understand the total cost of owning. The biggest issue right now is the rising cost of insurance on the oceanfront. However, as an example, a 3BR direct oceanfront unit in Compass Cove sold for $335k and the unit grossed just over $60k in rents. The rental split on site is 60% owner-40% rental company. The biggest issue would be if you carry a mortgage, and if so, how much. Also, you can rent the units yourself, with no real drop in rental income, and you do not have a rental split to worry about. That is how you can maximize the investment.
@DanielJMurphyRealEstate11 күн бұрын
This also does not take into account any appreciation.
@reginaMYPODCAST2 жыл бұрын
Thank you for sharing this information. Very, very helpful :)
@DanielJMurphyRealEstate2 жыл бұрын
appreciate the feedback. please continue to watch
@BolanoHome3 жыл бұрын
Very informative. Thank you for your insight.
@DanielJMurphyRealEstate2 жыл бұрын
Glad it was helpful!
@jasemashkanani2 жыл бұрын
Thank you
@RyanIZReaper4 жыл бұрын
The 35-50% fees are separate from the HOA fees correct?
@calloblopez5983 жыл бұрын
Correct
@karenk3593 Жыл бұрын
Thank you. How often can you stay in a condotel yourself?
@DanielJMurphyRealEstate Жыл бұрын
In most cases, you can use your unit as much as you would like. Some rental companies, ask that you restrict homeowner usage as much as possible during peak rental season, but many do not care.
@davidframe1613 Жыл бұрын
What if you wanted to live in one of these condos what is the hidden cost?
@DanielJMurphyRealEstate Жыл бұрын
No real hidden costs. You have HOA fees that cover much of the shared maintenance and upkeep as well as insurance for the building. However, that is disclosed.
@user-db5wt8oe7k7 ай бұрын
Witam : z własnego doświadczenia chciałbym Państwu na dzień dzisiejszy przekazać kto z operatorów Condo Hoteli wywiązuje się terminowo z umów oraz płatności: Nr.1 OSADA ŚNIEŻKA : Grenn Mountain w Karpaczu , Elements w Świeradowie Zdroju , Five Seasons w Szklarskiej Porębie.Nie polecam inwestować w Hotel Seidorf Apartamenty KAZALNICA w Sosnówce (sprawa w sądzie zadłużenie wielotysięczne) Pzdr Odpowiedz