Commercial Real Estate

What Are Condo Hotels or Condotels? A Primer

Expertise: Real Estate Marketing, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing, Real Estate Investing Basics, Landlording & Rental Properties, Flipping Houses, Personal Finance, Business Management
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Lately, we’ve gotten a ton of questions at BiggerPockets about a relatively unknown area of real estate investing, Condo Hotels or Condotels. In an effort to help understand what exactly these things are, we contacted Joel Greene, President of the Condo Hotel Center, a brokerage “specializing in selling condo hotels in the pre-construction phases,” and [...] View the full article: What Are Condo Hotels or Condotels? A Primer on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of
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    Joel Greene
    Replied almost 14 years ago
    I just saw your entry that you had emailed our site, but I show no record of receiving any emails from you. If you want to chat, try my direct email above or call me anytime, 954-450-1929. Joel Greene, President, Condo Hotel Center.
    Joel Greene
    Replied almost 14 years ago
    I just saw your entry that you had emailed our site, but I show no record of receiving any emails from you. If you want to chat, try my direct email above or call me anytime, 954-450-1929. Joel Greene, President, Condo Hotel Center.
    Vickie Gill
    Replied almost 14 years ago
    Mr. Greene, I have a very large problem and wondering if you could help. I need a speaker for a conference that is attended by Real Estate Appraisers. The majority of the appraisers attending are MAI. The person that I had lined up for this conference has had a medical problem that prohibits him from speaking to us about Condo Hotels. The date of this conference is NEXT WEEK, August 18, 2006. Would you be interested in coming to California and speaking to us? Please respond ASAP. Thank You in advance for time in this matter. Vickie L. Gill, SRA Chairperson Southern California Chapter of the Appraisal Institute Phone: 949-863-6409
    jimmy
    Replied over 13 years ago
    This article was very intresting! Is there any recommendations of books to read and/or about how/where to get financed. The recent article in CNN money about the area I live in, (panama city, Fl), and my desire to own one more property besides my homes in IL and AZ on a budget not well suited to succeed. Thinking condo would be great, but how to is the question? Also, is it better to buy a townhome right across the street from a condo? Many questions but wish to learn to succeed! Thanks, Jimmy Reply Report comment
    jimmy
    Replied over 13 years ago
    This article was very intresting! Is there any recommendations of books to read and/or about how/where to get financed. The recent article in CNN money about the area I live in, (panama city, Fl), and my desire to own one more property besides my homes in IL and AZ on a budget not well suited to succeed. Thinking condo would be great, but how to is the question? Also, is it better to buy a townhome right across the street from a condo? Many questions but wish to learn to succeed! Thanks, Jimmy Reply Report comment
    jimmy
    Replied over 13 years ago
    This article was very intresting! Is there any recommendations of books to read and/or about how/where to get financed. The recent article in CNN money about the area I live in, (panama city, Fl), and my desire to own one more property besides my homes in IL and AZ on a budget not well suited to succeed. Thinking condo would be great, but how to is the question? Also, is it better to buy a townhome right across the street from a condo? Many questions but wish to learn to succeed! Thanks, Jimmy Reply Report comment
    jimmy
    Replied over 13 years ago
    This article was very intresting! Is there any recommendations of books to read and/or about how/where to get financed. The recent article in CNN money about the area I live in, (panama city, Fl), and my desire to own one more property besides my homes in IL and AZ on a budget not well suited to succeed. Thinking condo would be great, but how to is the question? Also, is it better to buy a townhome right across the street from a condo? Many questions but wish to learn to succeed! Thanks, Jimmy
    jimmy
    Replied over 13 years ago
    This article was very intresting! Is there any recommendations of books to read and/or about how/where to get financed. The recent article in CNN money about the area I live in, (panama city, Fl), and my desire to own one more property besides my homes in IL and AZ on a budget not well suited to succeed. Thinking condo would be great, but how to is the question? Also, is it better to buy a townhome right across the street from a condo? Many questions but wish to learn to succeed! Thanks, Jimmy
    Dana
    Replied over 13 years ago
    Jimmy, If you are looking to learn about condo hotels, just go to Mr. Greene’s website, http://www.CondoHotelCenter.com. He’s got tons of good information on there. I’ve been reading his FAQs and many articles. And you can see what condo hotel properties are available too. I tried to find a book on condo hotels at Barnes & Nobles, and there doesn’t seem to be one yet. I think your best bet is the web. Dana
    peter
    Replied over 12 years ago
    BP: Are these properties difficult to finance? GREENE: Not at all, but they do take 20% down typically, whereas condos can be purchased with less cash down. It’s also important to make sure you use a mortgage broker who has had success in getting condo hotel financing deals done. Many banks still do not do them, but more and more are getting involved as condo hotels become more widely available. I like this section. in some part, mortgage broker do more than bank.
    Nancy
    Replied over 12 years ago
    Are there any condotels for sale in the Los Angeles area?
    steve jennings
    Replied about 12 years ago
    One of our projects is a condotel ‘The beaches Resort & Residences and is offering a 6% return for 5 years. So they do seem to be the favored form of overseas investment as well reputable hotel chains offer to manage them for the investors.
    steve jennings
    Replied about 12 years ago
    One of our projects is a condotel ‘The beaches Resort & Residences and is offering a 6% return for 5 years. So they do seem to be the favored form of overseas investment as well reputable hotel chains offer to manage them for the investors. Reply Report comment
    steve jennings
    Replied about 12 years ago
    One of our projects is a condotel ‘The beaches Resort & Residences and is offering a 6% return for 5 years. So they do seem to be the favored form of overseas investment as well reputable hotel chains offer to manage them for the investors. Reply Report comment
    Susan
    Replied over 11 years ago
    This is very interesting. I hadn’t heard of this before. It would appear that the real estate advantages far outweigh the disadvantages, especially in a market such as this one.
    Lance
    Replied over 11 years ago
    Jackson Hole has several Condotels. There is a few in Teton Village. I believe that Hotel Terra, Teton Club, Crystal Springs, Teton Mountain Lodge are all Condotels. There is also a good one in Victor Idaho called Teton Springs.
    Jackson Hole Real Estate Blogger
    Replied over 11 years ago
    I am very familiar with the condotel model as I sell real estate in Jackson Hole and we do have condo/hotels in Teton Village . It is going to be very interesting to see how well the condotels hold up in upcoming (or current) recession. Many of the properties that I have done historical roi numbers on have not “penciled out” well. Not that i ever would sell them as an investment based on future speculation. Great Blog.
    Frank Lodge Investor from Westchester, Illinois
    Replied over 1 year ago
    What if there is ever a need for cash infusion, lets say they found some reason why your unit needed a major repairs, how would they handle that ?