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Are Condo Hotels What the Orlando Real Estate Investor Has Been Looking For?
Earlier this year the Hawthorn suites in Lake Buena Vista quietly sold out all of their units in less than a month. These 540 sq. ft. units were an investor's dream, with a price tag in the mid $100's and an area average occupancy of over 84% these properties to quote one of our investors "make perfect sense". Many of the people buying these condo hotel conversions had different motivations for buying a second home in Orlando, but all had the same reason for buying a condo hotel conversion, namely the opportunity to cover their running costs with minimal or no effort. Many had sold their single family homes in Orlando, cashed in on the rapidly increasing prices and than reinvested their earnings utilizing a 1031 exchange and bought several condo hotel units. Others simply wanted an affordable second home near Disney which they could use when they wanted, and let the onsite management company rent it for them when they are not using the property. So the big question is what are the benefits of a condo hotel? There are many! What most people do is have the management rent the units out for them to offset the costs, and sometimes even creating a positive cash-flow. If you feel like going on vacation, you just call up the management company and let them know that you'll be using your unit on specific dates, and they set it aside so no-one else uses it. Condotels also have been appreciating in value at rapid rates in the last few years. Many investors have made incredible profits just purchasing and selling these units, which is known as flipping. And don't forget about the amenities! Think of all those amenities you have when you go to a luxury resort. Many condotels have pools, spas, tennis courts, restaurants, bars, saunas, playgrounds, and more. Keep in mind, however, that different establishments offer different types of amenities and you should research them before assuming that they have everything that you want. Many of the cheaper condo hotel conversions may not have some of these amenities, but if the price tag is less than $200,000, many people can forgo the spa! For the condo buyer, these types of developments can offer enhanced financial returns when owners choose to place their units in a rental pool. Individual owners usually can put their units in the hotel-room rental pool while they're not using them and get a portion of the proceeds. Better yet, they get access to the same amenities and services as hotel guests. By capitalizing on a hotel's reservation system, brand recognition and management expertise, unit owners are more likely to receive a higher level of rental income through a rental pool agreement with a recognized professional operator, despite having to share a portion of their units' revenues. Due to the high demand for accommodation near the theme parks, many hotels are dropping their branding as the hotels are showing good occupancy without the extra cost of paying for a brand name. If you think that a condo hotel near Disney might be for you, or if you want to research condotels more, please visit http://www.orlandocondohotel.net Marcus Truett is a second home specialist with the office of Ronald P Bressan Real Estate. Visit Marcus Truett's condo hotel website at http://www.Orlandocondohotel.net
MORE RESOURCES: Refined Real Estate: Unique Leschi home with lake views lists for $1,395,000 seattlerefined.com Coloradans negotiating lower fees for real estate agents with new law on horizon Colorado Public Radio Real estate mogul cautions about avoidable mistake when buying a home, explains how to avoid 'drowning' Fox Business Massachusetts real estate transactions for Hampden, Hampshire and Franklin counties May 19, 2024 edition MassLive.com Real estate transfers: May 17, 2024 RiverheadLOCAL London Real Estate Is About to Get the ‘Selling Sunset’ Treatment Hollywood Reporter Real Estate Newsletter Articles this Week: Housing Starts Increased to 1.360 million Annual Rate in April Calculated Risk Mid-May Greenwich Real Estate Market Report Greenwich Sentinel Should I Buy a House Now or Wait Until 2025: Expert Forecast Norada Real Estate Investments Dodge County Real Estate Transfers Fremont Tribune The Michael Houck Real Estate Guide for May 19 Oil City News Washington state ahead of the game as lawsuit rewrites real estate commission rules The Business Journals MCB Real Estate Revives Long-Awaited Viva White Oak Mixed-Use Project Source of the Spring STAR resource center Department of Taxation and Finance Yes, there are other coastal Delaware towns besides Rehoboth Washington Blade Revolution in real estate: How the NAR settlement is changing the game Eden Prairie Local News Dutchess County, NY real estate 2024: What's on the market for $579K Poughkeepsie Journal Baltimore real estate: 4 waterfront condos for sale The Baltimore Banner Real Estate Briefs: Lakeside homes, news condos, and more news Rough Draft Atlanta Home Prices Hit Record Highs in April 2024: Trends & Forecast Norada Real Estate Investments Innovative Leaders Vanderstraaten and Rohrman Inducted into North Texas Commercial Real Estate Hall of Fame ... dallasinnovates.com REAL ESTATE | UPDATE | Johnson Bus selling lot for new West Bend Fire Department No. 1 washingtoncountyinsider.com VIDEO | REAL ESTATE | Construction finally underway for Taco John's in West Bend, WI washingtoncountyinsider.com Oceanport's Denholtz recognized by commercial real estate organization themonmouthjournaleastern.com Routt County real estate sales at $17.6M for May 9-15 Steamboat Pilot & Today Real Estate Mogul Grant Cardone Closes Largest All-Cash Multifamily Deal In South Florida This Year Yahoo Finance James Quinn's Data Center Advisory Expertise at JLL Drives Innovative Real Estate Solutions for Global Corporations Markets Insider Westmoreland County Real Estate Transfers | Real Estate | latrobebulletinnews.com latrobebulletinnews.com Here are recent property transfers up to $1.28 million St. Albans Messenger China Says It Will Start Buying Apartments as Housing Slump Worsens The New York Times Robert Willett may be targeting female Realtors in Northeast Ohio Akron Beacon Journal Number of homes for sale in Metro Atlanta increased significantly, real estate brokerage says – WABE WABE 90.1 FM Local couple buys Pat Burrell's former Center City penthouse for 38% under original asking price The Business Journals What's real estate wellness? Fortune Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 Billionaire Frank McCourt raises his hand to buy TikTok Business Insider Connecticut real estate law changed after MV Realty investigation Eyewitness News 3 OT Real Estate Spotlight of the Week: 2115 Sheridan Place The Owensboro Times Ellison sues real estate broker Chad Banken over alleged schemes involving contracts for deed Star Tribune Bienville Realty: Commercial real estate Fox 10 News My Co-op Neighbor Never Pays His Maintenance on Time. Can We Make Him? The New York Times Letter: Clarifying changes to real estate industry Morgan Hill Times Navigating Northern Virginia Real Estate: An Insight Into Rhonda Campbell's Bespoke Approach Grit Daily ACRES 2024 showcases innovative real estate projects focused on enhancing environmental sustainability Malaysia Sun Home listings are on the rise in southern Colorado, while other indicators show a slowing real estate market Colorado Public Radio Southern fast-food chain Cook Out buys Tampa real estate The Business Journals Did Fort Worth’s real estate market really ‘bottom out’? | Fort Fort Worth Star-Telegram New Rules for North Texas Real Estate Agents Creates Uncertainty Dallas Observer EG Real Estate: 18 Opens This Weekend – East Greenwich News East Greenwich News Sean Bloom Investments Announces $2B Real Estate Project in Las Vegas InvestorsObserver Busch relative settles squabble with Clayton investors over real estate trust St. Louis Post-Dispatch China's rush to prop up housing sector comes with eye on third plenum: analysts South China Morning Post LOCAL REAL ESTATE TODAY 5.17.24 – KQEN News Radio kqennewsradio.com Shaping the Future of Real Estate Technology RisMedia.com End of war against property speculators marks new phase in China housing South China Morning Post Housing Market 2024 Predictions Bankrate.com KKR Real Estate Finance Trust Inc. (NYSE:KREF) Given Average Recommendation of “Moderate Buy” by Analysts Defense World Edgefront Real Estate Investment Trust (TSE:NXR) Forecasted to Earn FY2024 Earnings of $0.73 Per Share Defense World |
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