Commercial Real Estate Investments – Condo Hotels
Condo hotels are, perhaps, one of the hottest products in today's real estate market. They are dubbed as the hottest commercial real estate investment today. New properties are emerging in different parts of the country and new buyers are entering this market every day. The market is getting a lot of attention lately. However, before deciding to enter this market, you need to step back and take a moment looking at the big picture.
The condo hotel concept has a spreading enthusiasm among investors for the commercial real estate investments. More and more people are recognizing the potential of owning a condo hotel and therefore more demand for inventory is on the rise.
The investor for condo hotels is a typical 35-50 years old person. Most of them are going to Florida and buy properties there since condo hotels are more popular in Florida. The investors come fro all over the U.S. And the international investors keen on commercial real estate investments, are mostly from South America and Europe.
Truth is that the vast majority of buyers want condo hotel units primarily as a mode of commercial real estate investment which will eventually earn them back a good sum of money. They are focused on the potential for appreciate with the side benefit of hassle-free ownership. They actually want to use the condo hotel unit as a vacation home for people while the commercial real estate investment is their second priority. They want to kill two birds with one stone.
Interestingly, every single property that has come on the market to date has been sold out in pre-construction. Most of these properties were high-rise buildings with an average of 200 -500 units and with some in excess of 1000 units. For example, the MGM Grand in Las Vegas, a 570-unit condo hotel was expected to sell in two years. It was sold in two months! Talk about hot commercial real estate investment! The Platinum, another condo hotel with 255-units in Las Vegas was under development. It was thought that this property would be sold in 2 years. It was sold in 3 months! That is what I call earn money with commercial real estate investments like a pro!
Hot Areas
While there are condo hotels all around the country, South Florida is extremely popular in terms of commercial real estate investment in condo hotels. In fact, the condo hotel trends began in South Florida and spread all across the country. Currently, Las Vegas is leading the pack with many new condo hotels in all price ranges being built. They are the hottest commercial real estate investment; most of the investors are currently looking for. It wont be wrong, if I suggest that within an year, condo hotels will be the surefire way to make heaps of money in shortest time possible.
M. Siddique is real estate investor for over 20 years mostly in commercial Real Estate Investments specially shopping centers, hotels, motels. If you want to partner on future investment opportunity with me, please send email to invest AT trcb dot com. Minimum investment is 100K US dollars for credited investor.
- Article Word Count: 516
- |
- Total Views: 293
- |
- permalink