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Re: Condohotel Investments
Old 01-10-2007, 06:23 PM   #21
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Re: Condohotel Investments

Originally Posted by ADJ
I will have no mortgage payments since I am paying cash but I will have HOA, liability insurance and taxes of approximately $900/month. Presumbaly, the rental income should cover. On paper it seems to have appreciated almost $100K but I am willing to sell right away and breakeven.
Fortunately that gives you some negotiating leverage if you can act on it soon enough. Get some legal advice and talk to the developer. Look carefully at his body language. That will give you a good indication of how it's really going.

For the fun of it...Keith
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Re: Condohotel Investments
Old 01-10-2007, 07:44 PM   #22
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Re: Condohotel Investments

i work for mortgage co.
condotels are the hard to finance, and practically no one refi's them. Wall street investors who buy mortgages are staying clear of "condotels" too much "risk"

my opinion only...good luck

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