Condotels part 2 |
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I got some of the numbers related to the condotel purchase I was considering. Unfortunately, it's impossible to get all the numbers. If they were to make estimates on how much you can rent it out or project vacancy rates, it qualifies as a security to the SEC and gets regulated much more rigorously.
In the end, I feel that it's probably pure speculation. Something that you buy to flip in the first year or so. I believe it would work out to be a gain, but giving the size of the risk (10% down would be around 1/3 of my net worth), it's not something that I can get into.
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[...] in Las Vegas. Good thing I didn’t because a year later the W in Las Vegas was canceled. I rationalized my decision this way: In the end, I feel that it’s probably pure speculation. Something that you buy to flip [...]