请求置顶。 Thanks for sharing.

Great that you could unload some.

I checked out some of those Condotel in Chincotegue, VA back in 2007. The fee you need to pay to the management is horrendous. It basically eats all your income. I doubt that you can make any money even in the best days, since they charge around 70% of your rent. I think the only people making money from those deals would be the management.

It was a 40-unit hotel, and I was able to talk to the woman sitting behind the front desk. After a while, she showed me the occupancy chart, or vacancy chart to be exact. Most of the units are empty for the month of July & August, with only spotty rents. They were still selling for ~90K at the time.

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• That's right. -va_landlord- ♂ (79 bytes) () 10/31/2010 postreply 08:06:21