Thinking about purchasing an investment property?
Did you know you can vacation at and make money on certain properties?
Are you familiar with the term "hotel condo?"
My first home purchase in Florida was a beachfront condo. I was always trying to figure out how to get the best of both worlds--by owning a condo that I could personally vacation at, as well as ultimately make money on. While with most investments you have to wait a while for the ROI, with a hotel condo you can make money within months of your purchase AND have a great vacation getaway multiple times a year!
When you buy a hotel condo (at certain properties) you are able to enter into a rental agreement program where the hotel operator rents out your unit on your behalf. This means no actual work for you--YOU JUST COLLECT THE REVENUE at the end of each quarter and any fees are automatically deducted.
So imagine hopping on a plane with a backpack (all your personal items are safely locked in your condo owner's closet) and heading to your beachfront condo at a luxurious resort. Did I mention valet will take care of your rental car and grab that not-so-heavy backpack from you upon arrival; and in less than 10 minutes you can be sipping a tropical cocktail at the beachfront pool?
It may sound too good to be true; yet this was my reality for a while, and I am happy to share this opportunity with others who are looking for a vacation AND investment property.
Feel free to reach out with any questions on hotel condos and to receive the latest listings of these properties in the Palm Beaches.