Quote:
Originally Posted by kcowan
We have friends currently staying at Vallarta Shores, a condo hotel in PV. As an owner or renter, you get full service by the hotel staff. They rent the units for owners and keep 30% of gross. For about $360K, you get a unit that will generate $60K gross receipts. They are evaluating whether to acquire it as an investment. They also would pay a monthly condo fee of $500.
So yes there are facilities such as you describe but they are pretty rare here.
(BTW the larger resorts here are selling timeshare so they are not good investments.)
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We had some friends when we lived in Germany about 20 years ago, and they had a similiar setup in Valencia Spain. The management company rented it for them when they were not there. So, I would imagine there are similiar setups many places in Europe. I like Spain for the beach and the realestate sux there right now, so you may find a deal where you can buy at a distressed price, or maybe not