Thinking to buy this hotel? Here are 20 things that you need to know!

1. What is a hotel hotel or a bottleneck?

Think of a cozy hotel (also known as a bottle or hotel courtyard) such as buying a condominium, although one part of a four star hotel. Therefore, as a owner, when you are on vacation, you will be given the benefit of more four-storey services and comforts than you in typical condoms.

2. What kind of services and comforts are there in hotels of kondo?

If you can imagine the things you'll find in an extraordinary hotel, then you can imagine a hotel that is conducive to you. Amongst the features there are often resort-style pools, full-service spas, top-level physical centers, beautiful food restaurants, service facilities and a room.

In some places, like Las Vegas, you will find hotels with its own casinos, retail zones and entertainment facilities. In places like Orlando, you will find codes of hotel with its own water parks and convenient facilities.

3. What is the difference between a condo hotel and a traditional condominium?

The big difference between a hotel and a hotel is that a hotel typically has one owner, either individual or corporate, but a hotel of codes is sold by unit per unit. Therefore, a hotel of 300-room codes could have as many as 300 units.

4. Is it obvious for hotel guests whether they live in a hotel or traditional hotel?

Hotel guest probably will never know that the hotel has multiple owners, because the property works as a traditional hotel and often under the administration of a well-known hotel such as Hilton, Hyatt, Starwood, Trump or W. Also each of the individual hotel units units will look identical in design and decoration to each other, as they would like in a traditional hotel.

5. Who usually buys damn hotels?

They are mostly sold to people who want vacations, but do not want to deal with the problems that are usually associated with second-owned houses, such as supporting the property or finding tenants in the distant season.

6. What is the demographic part of the typical passenger hotel buyer?

The spectrum of compact hotel buyers is quite comprehensive. These are families who want a second home in a holiday destination. There are baby boomers who are at or near retirement and want somewhere "they can win". There are also many investors who buy a contingent hotel unit with little intention to use it once; they live in it for the possible valuation of the real estate.

7. Can you live in a passport hotel?

Condo hotels are not usually offered as primary residences. In fact, many of them limit the use of the unit owner of the Kodeja hotel unit (typically 30-60 days a year) because the unit is expected and required in the night rental program, where it can be offered to guests and generate revenues .

8. Who gets the money when your knowledge-hotel is rented?

The hotel management company is spreading the rental income with the individual resignation hotel. While the right percentages vary from property to property, the typical rent divides in the 50% -50% range.

9. Who finds hotel hosts and then cleans and meets the hotel hotels?

The hotel-management company markets the property and hotel-host books. It also supports the unit and ensures the smooth functioning of all the amenities and amenities of the hotel.

10. What are the advantages / disadvantages of buying a bottle over buying typical luxury properties?

Benefits include:

Hassle-free property; without operating things

· Rent income to compensate for some or perhaps all property assets

· A fantastic holiday home available for use whenever you want

· Intelligent investment at the same time as other investments seem less attractive

· A strong likelihood of acknowledgment

· Owned pride – "I have a Trump piece"

Disadvantages include:

· Annual cash flow may be equal to or less than annual ownership costs

· The habits are not usually welcome.

· The owner's operating property can rent when the owner wants it, so necessary reserves to guarantee availability.

· The Kodeja hotel unit is subject to the same market forces that affect all the hotels in the competitive market: hurricanes, terrorist threats, warm winters up to the north, gas prices, etc., all that can influence unit and # 39; the rate of occupation and the amount of income generated.

11. Is a compact hotel units difficult to finance?

Actually, but they usually take 20% down, whereas condos can be bought with less income. It is also important to make sure you use a mortgage broker that has managed to make contracts for financial hotels. Many banks do not yet do them, but they are increasingly involved as concert hotels become ampler available.

12. How long do hotels have a condo around and where are they located?

Condo hotels have been around for several decades, but the huge growth of four star hotels and five stars of conditions that have passed the country began around 2000 in the area of ​​Miami. The Miami-Fort Lauderdale area still has the most hotels, but places like Orlando and Las Vegas develop comfortable hotels at faster speed and probably likely to surpass South Florida. Other previous areas are places like Bahamas, Panama, Dominican Republic, Mexico, Canada and Dubai.

13. How much cost hotel units do you cost?

That's how to ask how much car it costs. There are different qualities for dogs. Some require a greater amount of money than others, obviously.

There are cheap hotel amenities there for less than $ 100,000. These are typically found in properties that have converted their use of existing hotel. They are hotel rooms, lack kitchen facilities, luxurious franchises, and other comfortable comforts.

Then there are four-star or larger properties that can start at $ 300,000 up to $ 400,000, but can only go up to $ 800,000 for a study unit. One-and two-bedroom units cost much more than a study. Of course, the studios have come fully entertained and finished, and will be much larger than the typical hotel room, and can attract guests for their name as St. Louis. Regis, Ritz or W.

14. What are typical maintenance costs?

Average approximately $ 1.00 to $ 1.50 per square ft., But the range can exceed $ 2.00 square ft. In the most luxurious features.

15. Do you buy code codes for codes after they were built, or can you buy condition-hotels in a pre-construction?

Unless you are quick to start for a holiday or you have to complete a 1031 exchange, it is best to buy good hotels in pre-construction as soon as possible. That is when prices are lowest and single selection is greater. You will probably wait two years or longer before you close and take ownership of your encrypted hotel unit, but you will stop at the price and receive the benefit of maximum gratitude.

16. Should any investors know about bottlenecks?

There is more to buy this type of real estate than the old phrase, "place, place, place." While most towns of houses are located in desirable resorts and commercial areas, the most important is a good franchise with a strong reservation.

Also, do not be deceived by an aggressive rent shared. On the one hand or the other, the programmer of the property will have personnel, support and operate the hotel and its services such as the restaurants, bars, spa and swimming pools of its activities. If he will give you very favorable parts of the fight, he will also be more likely to pour you on a higher monthly maintenance. Of course, this goes both ways. If the shared maintenance is closer to 50-50, then your maintenance will also be more reasonable.

17. Do any suggestions for investors choose what home to buy?

Get good tips. This means you do not want only on the pitch provided by an online seller at a hotel. You want to talk to a doctor who specializes in disruptive hotels and who knows and understands the entire contractual hotel market, not just the facts related to one property. He or she will listen to your wishes and needs and then offer recommendations about which properties best match your requirements. You will have the opportunity to compare a shop and consider the advantages and contracts of each available property.

A good broker can have the difference between buying a hotel code that will be problematic and will not meet your expectations or one that will give you years of great vacations, good annual income and great benefit when you sell.

18. Is it more expensive to use a real estate broker to buy a contract hotel than to buy a one-off one?

No. With new codes-hotel-properties, the prices are always set by the developer and are exactly the same if you buy directly from an online seller at the property or using a broker.

The commission of the spot is always paid by the developer and is already built at the price, whether an external broker participates in the sale or not. Since a representative of brokers is free for buyers, it has a sense to recruit their help and get the luck of their advice before buying.

19. How can potential buyers find a good condition-hotel?

Ask friends for business recommendations or search online for "conditional hotel broker". Visit bulk hotel hotels and see if the information they provide seems complete and unwilling. If their website looks to focus on selling homes or office space, and the code information information seems to be considered, clearly clear. Your best bet is to work with a comic hotel broker that specializes.

20. How can buyers learn about new commodity hotels in the market?

Condensed hotel brokers can be good informative sources, as they often learn about properties before their release to the general public. Another option is for them to subscribe to a concise hotel newsletter such as which we publish called Condo Hotel Property Alert. We offer it free on our website at http://www.CondoHotelCenter.com and it has a different hotel code property that comes on the market every edition.

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