Category: Questions & Answers

If you want to rent the unit by yourself, you can do so. However,only long term leases. We can not have 150 real estate agents running through the property renting…Continue readingI am asking if the fee is weather I rent it or you guys do.

Presently the hotel – especially with the Covid 19 – is not running at it normal or average/past history performance.This is the reason why you see special rates on the…Continue readingThe average price you have for nightly fees are higher than what I am seeing online. Do the units have to go through your marketing or leasing group?

The $ 250 per month does not include the linen service or housekeeping.If an owner living there is interested in such services it will be available and provided by the…Continue readingWill the housekeeping be available everyday just pay per use or additional monthly fee?

Each hotel room owner will be charged $250 per month.We have placed a very high “Reserve” into the Budget. the Budget may be reduced by the owners in the future to…Continue readingAre you expecting the condo fees to go up after conversion?

We have a sales and marketing office on site, which is open 7 days a week. You can by anytime to see the units. 

The main change is the bathroom. Here we take the bathtub out and replace it with a shower. The entire hotel rooms will have new tiles floor (carpet out) and also…Continue readingWhat upgrades are being done or is this just to get to certification of occupancy?

As hotel unit owner, you can stay there as long as you like.No one will be able to evict you from your own real estate. However, in general terms, hotel rooms…Continue readingThe documents state you are not allowed to reside there or limited to X days. Also, is it going to be continued to run as a hotel after the conversion and does any payments prior to the conversion go towards the mortgage?

The exit strategy to realize the return we expect, is the sale of the hotel condominiums.

Considering that we are buying a hotel with 152 rooms plus 3 commercial spaces for a total of $4.2 million, with 67,400 SF or $27,000 per unit, a true bargain.It would…Continue readingIn what time frame would that return be realized?

I was working as a Securities and Options Principal. You can check with FINRA , I have 0 (zero) complaints on my license. It would be illegal and a violations of…Continue reading“$60,250 return” Is that a guaranteed return?