"What every Capitalist
should cognize just about Condominium Building Real Estate!"
"Vacation Property that generates Revenue"
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I love Condo-Hotels. They provide a revenue stream once
I am not exploitation
the units, and besides give me a great place to stay once
I am on vacation or
travelling on business. I presently
own, or have closely-held units in Canada, American state
and Las Vegas.
Now, I want to be straight up with you here. Condominium Building Investments
aren't for everyone . They are most suitable for folk that
vacation, or, travel to the same destination over and over
again. That said, if you do fall into either of those categories, Condotels
(the another term for a Condo-Hotel) may present the chance you have been
looking for.
However, like any investment, you need to do careful planning and
research before devising a commitment.
Here is a little story just about a mistake I made....
I was looking for a new Condo
Hotel investment in Florida, and evaluating my options. At the time I
closely-held a Condo-Hotel Residence in a Ski Resort in British
Columbia, Canada, and overall the experience with this property had
been really good.
With this property, the company
responsible for managing the condominium building had lots of experience, there was an
first-class marketing program in place to insure that the building was always busy,
checks from the rental management program came every month and covered
galore of my costs , and the property was appreciating in s. I
had chosen the right location, and the right type of investment. What much
could I ask for!
To start the process of looking for my
new condominium building investment, I did several initial research online, and
placed a real estate broker in the area in American state I was most interested in.
One of the condotel properties we discussed
shined above the others. I was told that the condominium building was going to
have a great rental management program to offset several of my costs. I
was besides shown number and figures just about the type of return I could expect
.
I knew that I was actually going to enjoy
this location once
I had to travel to American state on business, and after the
property appreciated I would-be
sell it for a profit.
I quickly reviewed the rental
management agreement (RMA), arranged for financing, and
purchased the unit.
It was shortly after I took possession that I accomplished possibly this wasn't going to be what I expected.
Unlike my innovational investment, there was
really little revenue generated and this property was cost accounting
me
a tremendous figure of money every month to support up.
So, why did this happen, and what
mistakes did I make?
The bottom line was:
I hadn't asked the right questions that would-be have given me the better information before purchasing!
Seems simple doesn't it? Ask the right questions...determine if this wish be a
nice investment.
For example, a critical question I should have asked was:
"What kind of
experience makes the institution managing the hotel
have"?
If I had asked that question, I would-be have found out that this was the first
Condo-Hotel managed by this particular company. That should have been enough to
do me reconsider what I was acquiring into.
But there was more.....
I next distinct to take a closer look at the rental
management agreements provided by each Condominium Hotel.
Now, the truth is, I hadn't paid a lot of attention
to the details of the rental management agreement at first.After
all, it was a "Legal Contract", and a lot of the building terms didn't actually do
sense to me. My regular attorney was able to give me a pretty nice overview,
however, his area of expertness is not related to hotels.
For example, terms like "Rack Rate",
"Net Rental Revenue", and "Allocation of Reservations"
were prevailing througout the agreements, and he was unsure of the exact
definitions.
I patterned
the next step was to see a attorney that
specialized in Property Management Agreements
for Condominium Hotels and get the details straight from an expert , and
WOW, did that ever open up my eyes.
I spent 8 hours with that lawyer
at a cost of $400 per hour (total cost $3200) to pick
his brain and understand the details.
Now, I am not going to go into the exact details of how the
agreement was structured (that information is in the Instructions accessible at
the bottom of this page), but I wish give you an example of another actually
important consideration towards your investment decision, and that has to
do with thing
called Room Reservation Rotation.
The process of Room Rotation is really
important in a Condotel. What this means, is that the Hotel
Managers should try to rent similar units on a fair and evenhanded basis
throughout the Condotel to try to "equalize" the revenue amongst owners.
For example, all 1 bedrooms are expected to obtain the
same overall revenue distributions to the different owners. The
goal is to not favor a specific owner or unit over the other. The
process is normally handled through the Reservation System, or third party
rental rotation system like
ownerrelations.com.
This process is easier aforesaid then
done because there are a lot of demand factors that can skew which unit a
building guest may be allotted to. The reality is, folk staying in a building
ask for certain types of units much often then others, and the hotel will
honor those requests.
For example,
rooms in greater demand may include
-
Rooms on higher floors
-
Rooms with
a scenic view
-
The Type
of room (1 bedroom, studio, 2 bedroom)
-
Rooms away
from abuzz amenities like elevators, candy machines, swimming pools and
exercise rooms, etc
-
The types of
amenities that may be accessible in several rooms
-
Previous
stay expectations
-
and more
All these
reasons can result in higher rental renvenue for several units then
others.
Condotel Investor Purchasing Tip:
Once
looking at a potential unit, think just about what you would-be want as a guest.
The units in highest demand wish provide you with the greatest revenue
opportunity.
Sure, the location of the condominium building is important, however, the
location of the room you purchase is besides really important!
The truth is, I like Condominium Hotels. I think that if
you are looking for a nice investment with revenue potential, have the means,
and do your homework, a Condo-Hotel may be for you. For me and my family, they
have worked out actually well.
But, you need to be INFORMED AND KNOWLEDGEABLE and
do sure you ask the right questions before buying.
"The
Investor's Manual to Condominium Hotels"
will walk you through this process, and educate you on the
questions you must ask before devising an investment.
For example, here is what you will learn in the Investor's Instructions
to Condominium Hotels.
-
An overview of Condominium Hotels and the several types of
Condotel Investments accessible (including Frsal property investments) .
-
17 Key questions you MUST to determine whether or
not the property wish be a nice investment.
-
and most importantly, easy to read and simplified
definitions of a Elaborate Rental Management Contract including
terms, clauses to look for, and tips to use once
negotiating.
So, what would-be you expect to pay for all this information. A
$100...$150....perhaps even as $200?
Well, let's see what you could
spend to educate yourself
1) You could spend $1000's PICKING THE
BRAIN of a TOP RATED lawyer full-fledged
in Condominium Building Property Management Agreements.
2) You could spend 50..75...or even as a 100 hours
searching online to get all the details. I do guarantee that the
information is out there....somewhere. The key is choosing what is
relevant, and not relevant.
3) And in the worst scenario, you could spend a
$100,000 or much devising a poor investment decision and wonder wherever
you went
wrong.
You could do all that, or...
You can get The Investor's Instructions to Condo-Hotels for only
$24.95
That's it. $24.95, and, I besides GUARANTEE YOUR SATISFs
WITH IT.
That's right. If you don't think that this instructions
is going to activity for you, return it inside
30 days and you'll obtain a
full refund.
No hassles, no arguments. No threatening e-mails.
I'm a fair business person who just
wants you to be knowledgeable and informed. If you're not, then it's your full
right to request and obtain a refund.
That's my promise to you.
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And, as FREE BONUS GIFT when you
purchase today, you can besides download the better merchandising "Think
and Grow Rich" by Napolean Hill. This book has oversubscribed millions of copies and
normally retails at $19.95, but today, you can get it perfectly Free once
you
purchase the Investor's Instructions to Condominium Hotels.
Are you available to make Smart, Abreast of Decisions just about a Condo-Hotel
investment?
The Investor's Instructions to Condo-Hotels is PDF document, so you
wish be able to transfer
it and see it today. Even as if it is 2:00am in the
morning!
Order
Now
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and Secure - I am PayPal verified
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You'll get IMMEDIATE ACCESS to the
manual.
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Here's to a booming and happy Condo-Hotel Investment!
Kind Regards,
Frank Franchini
P.S. I have chosen to do this instructions accessible at $24.95, but that
doesn't mean it wish always be that price. You could move back to tomorrow and
find that the cost has doubled.
Investor's Manual to Condominium Hotels
PO Box 2079
Squamish, BC, Canada
V8B0B4
frankf@gmail.com
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