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Forums » General Real Estate Investing » Hotel Condo's Good or Bad?

Hotel Condo's Good or Bad? Subscribe to Hotel Condo's Good or Bad?

4 posts by 2 users

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Thomas Rowlen

Real Estate Investor · Chicago, Illinois


Forum_avatar_avatar-publshrs

Sep 11 '07, 07:36 PM

I am thinking of getting into this type of investment as a retirement vehicle, any, and all input welcome. Thanks in Advance publshrs :help:

Edited: 06/26/2010 at 03:58AM


Account Closed


Forum_avatar_avatar-rei

Sep 12 '07, 06:10 PM

When do you expect to retire?

The condotel market is very new. There is very little in the way of resale data over different market cycles. Hence it is hard to say if the long term performance would produce the returns you need for a pension.

Consider other forms of RE if you want a clear track record.

As you are doing this for retirement, do you know that you can use your IRA to fund deals? You can even do short term deals, take the profit into your IRA and never pay any taxes (Roth IRA).

John Corey

Edited: 06/26/2010 at 03:59AM


Thomas Rowlen

Real Estate Investor · Chicago, Illinois


Forum_avatar_avatar-publshrs

Sep 12 '07, 08:08 PM

Thanks for the imput, would love to draw from a 401k or IRA, I don't have one, I'm self employed, have been for about 30 years, The thought here is to develop a income stream, that would pay for itself, and put some cash in the pocket. So I am concidering this as a way to do that, I know this is new to the market place, and I have considered other types of properties but I don't want the hassle of maintiance, and dealing with tenants. I expect to retire when I die lol but I am looking to cut back on my activities in about 7 years. Thanks again publshrs

Edited: 06/26/2010 at 03:59AM


Account Closed


Forum_avatar_avatar-rei

Sep 13 '07, 03:57 AM

Thomas,

If maintenance and tenants is not your cup of tea then consider other ways to use RE to reach your goals. A number of investors feel the same as you.

I happen to have some condotel property but I would not say that I expect it to perform all that well other than from a cash flow perspective. Plus the location means I can always use it.

John Corey

Edited: 06/26/2010 at 03:59AM




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