Las Vegas condo- hotels

Las Vegas real estate

I want to use it like a hotel and be able to book it when I want to and rent it the rest of the time.

Ok, I get it. You want to hop on the phone book your condo and fly into Las Vegas for a little fun then check out and ideally have it rented the next night!
This is what hotel/condos were designed for. You now will own an investment that rents as a hotel room and you don’t have the hassle of doing all the work!

So grab a pencil and paper and let’s make some notes as we go because were going to make a list at the end of this discussion.

1) Where do you want your unit to be located? Cosmopolitan Condos in Las Vegas
If you were just booking a room in a hotel where would you want to stay location? The closer to the action your condo is, the higher the price (both to rent and buy). If you stay off Strip a block or two your room will be less expensive than if you stay right in the center of the action.

2) What would be the quality of room you would want?
Were do you stay when you book a hotel, Four-Seasons, JW Marriott, Hyatt, Hilton, Motel 6?
Your tastes have a direct correlation to the price of your unit and the rental income it will generate.

3) Where in the building do you want you unit?
A unit with the view of the parking lot and next to the elevators and ice machine comes at a much smaller price tag than the unit with the unobstructed view of “The Strip?”

4) What type of condo-tel do you want to purchase in?
Are you more the boutique style motel user or do you want the huge property with all the bells whistles including gaming, shopping mall, restaurants and activities? The more amenities a project has the higher price of the unit are.

5) How much do you have to invest in cash for purchase and closing costs?
Your initial investment dollars will dictate what you can purchase. Most sales organizations require a 20% cash deposit on the unit and then you wait 2 to three years to close and occupy a newly built project.

6) How much per month are you willing to subsidize your units costs?
When do you want to occupy?
Initially your unit may not generate all the income needed to service its debt. Over time room rental prices will raise hopefully at a faster rate than you your cost of ownership and the hope is that eventually not only will it service its monthly debt, but that you will see a nice little profit each month.

7) What is the maximum price of a unit that you wish to invest in?

8) What features are important to you inside your condo?
Examples: office, bed/baths, deck, etc.? Keep in mind that the cost per square foot is likely to be between $700 and $1,200 per sq. ft. so be realistic about your needs.

9) What amenities are important to you on the property?
Examples: pools, cabanas, workout facilities, business facilities, club houses, etc.?

10) What services do you require?
Examples: valet, concierge, housekeeping, spa, etc. ?

Now comes the fun, please pickup the phone and give me a call. After we discuss your list I will carefully select the projects that meet your requirements. I will send you the information and we can begin the evaluation process to see which units have the right combinations of features and services to meet your needs.

Contact Max here NOW!

Prudential Americana Group, Realtors®
Max Schmidt P.C. dba Max Schmidt
Broker/Salesman
871 Coronado Center Dr., suite 100
Henderson, Nevada 89052
(702) 334-2200