“What in the world is a condo hotel, and do you think theyre a good investment?”
***ANSWER:
A condo-hotel, also called a hotel-condo, is a building used as (surprise) both a condominium and a hotel.
The rising costs of building and related expenses can make developing new hotels difficult and costly, especially in major cities. But by selling some or all the units as condos, the developer shifts a bulk of the cost to the condo owners.
By owning units that can be rented as hotel rooms, individual owners can get a return on their investment, subsidizing the cost of owning a residence in a resort or major city.
Are they a good investment?
Its too early to tell. I wouldnt suggest you invest your nest egg in one, but if youre a gambling man (or woman) and you have cash available, go for it. Tell me how it works out. And dont be mad at me if you lose.
Here Are Some Affordable San Diego Condos
