Has anyone invested in Condo Hotels in Palm Beach County?

[Susan Hoffman]

I have sold a few a condo hotels to several clients this year and the ROI's are crazy! Have you purchased one and what was your thoughts on it?

[Ahmed Mohammed]

Hi Susan , I am currently looking into investing in STR in the FL region and am looking into condotels also . I would love to talk to you about investing in condotels and the ROI . Please let me know if you are open to discussion on this .

Thanks

[Jay Hurst]

Quote from @Ahmed Mohammed:

Hi Susan , I am currently looking into investing in STR in the FL region and am looking into condotels also . I would love to talk to you about investing in condotels and the ROI . Please let me know if you are open to discussion on this .

Thanks

Just to be aware, one of the reasons the ROI can be very good is because condotels do NOT qualify for conventional financing. The financing terms are going to require more down (like 25% at min) and have higher rates. Therefore a lot of folks cannot qualify for the properties so you have a smaller buyer pool which helps moderate the prices. If you can qualify and understand the risks they can but good but do not assume conventional type financing terms when you buy and sell. We finance a lot of them, but a lot of lenders will not understand this property type.

[Ahmed Mohammed]

Thanks Jay , I am ok with the 25-30 % investment in a STR property . I am an IT engineer and would like to invest in STR with solid returns and am willing to make solid investments.

Thanks