Real Estate When I was a little kid, a cousin of mine owned several rental properties in the small town near my home. This was basically his livelihood, as he spent his time taking care of the properties as needed, collecting rent, and so on. I always thought that this guy kind of had things figured out.
They are usually large high-rise luxury hotels operated by big name hoteliers. The hotels have condo units, allowing individual investors to own a full-service vacation home that offers amenities like spa, fitness, fine dining, business centre, housekeeping and more. Conceptually, when the owner is not using their own unit they may rent it out themselves or enter it into the hotel rental pool where it would be offered as a suite for short term rental.
The on-site management company takes care of upkeep, maintenance and interaction with renters making it hassle free home ownership. Most condo hotels are meant for short-term occupancy and often stipulate the maximum number of days an owner may occupy the suite, with only a few projects allowing year round permanent residency.
The owner may resell the unit at any time and retain the profits. What to keep in mind: Many investors have lost money on this type of deal.
The rents have been lower than anticipated. The maintenance fees are higher than most condominiums as there is a built in management fee and perhaps a refurbishment fee. Property taxes are higher than similar condos pushing the costs even higher.
Financing can be an issue as only a few lenders are funding this type of product. When reselling this kind of product you are marketing to a very small pool of buyers making the demand low.Does anyone have any advice or know some of the pros and cons of owning an apartment complex or hotel?
I realize the apartments would be a more stable investment but I feel like the hotel industry, especially in certain areas/climates, has the potential to provide a serious income.
Owning and operating a franchise hotel can be challenging work, but it can also be rewarding. Hotel owners have to anticipate guest needs, ensure that guest rooms are well maintained, and manage. The Pros And Cons Of Owning A Country Inn Posted by Kent Johnson + in Blog, Country Living, Product Reviews If your dream is to own your own country inn or bed & breakfast, but you’re still on the fence about leaving your current life and career, there are a number of considerations you need to ponder before taking the leap and leaving your old life behind.
RV PROS AND CONS RVs vs Motorhomes. Just about everyone has asked themselves the question. “Should I buy an RV?” Or maybe, "should I travel in an RV or stay in hotels?" They're common questions for a good reason. The idea of an RV is filled with the romance of the road and the freedom to travel when and where you want.
Owning and operating a franchise hotel can be challenging work, but it can also be rewarding.
Hotel owners have to anticipate guest needs, ensure that guest rooms are well maintained, and manage staff effectively. At the same time, hotel owners have the opportunity to meet new people and interact with guests from a variety of locations.
Firstly, Freehold vs Leasehold – pros and cons? I'm thinking if we can purchase a smaller, cheaper freehold property we would be better off long term. There has been a lot of info posted on this forum now about motel investment so I suggest you read all you can and you should find many of your answers there already.
Own own motel is.