Las Vegas condo for snowbirds

Please stop for a moment and grab a pen and paper to jot down some notes as you consider the following questions. You need to make a list as you consider the following:

1) What type of unit do you want to own?
Condo-tel:  These condominiums are a hybrid of a condominium and a hotel.  They are located and marketed to the general public as hotel accommodations and can range from a standard room with a mini bar style kitchen to a full penthouse suite.  These units boast great locations for the traveler, excellent services and amenities and full time management, maintenance and even maid service.  If you want to feel like you are on vacation and still own your condo this is the place for you.  The hotel manages your property and then you split the income on a percentage basis with the hotel.  You are still responsible for your Association dues, insurance and any mortgage payment and property taxes. And some contracts call for you to pay a maid service fee when using your unit.  Other contracts have a limit on the number of nights you can occupy your unit in a year.  We will want to consider all of these factors when shopping for your new home.

Where do you want your condo/tel to be located?
  Of course you want to be near the tourist areas to optimize its income potential.  Keep in mind that a block can make a big difference when you are talking about a hotel room concerning how much and how often it rents. You will also need to consider its specific location in the building as a room with the view of the strip and away from the elevators and ice machines will rent much more often that the view of the rear loading dock and garbage cans. Of course the condominium hotels right in the newest and most trendy locations will sell for far more per square foot that the others and their rents will be higher with higher occupancy rates as well.  Most of these condo/tels sell for between $700 and $1,200 per square foot.  We will consider your needs carefully in this area of the market.

 Corporate managed rental condos: If you are seasonally using your condominium or using it only part of the year then you are going to need to consider the corporate housing style condo.  Here a professional corporate housing rental agency manages and rents your unit out and you pay them a percentage of the income.

Where do you want your condo to be located? There are several projects available but the selection is limited.

Downtown at the bottom of the Freemont Street Experience and the top of the new Gaslight District with bars restaurants and night clubs that will be filled with live music, comedy and entertainment.  This also puts you in walking distance to the New Fine Arts Complex in Downtown.

Near the Convention Center and near the Las Vegas Hilton is another project that will be close to all the action of the Las Vegas Strip.

West on Tropicana about 1.5 miles off “The Strip” is a project that is offering free limo shuttle service to the Strip for its clients as a part of their Home Owners services.

2) How much cash do you have to invest in your condo, including 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.

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

4) Approximately how much are you are you willing to subsidize your unit on a monthly basis?
As a general rule a new purchase of this sort will not produce income to bring you to a break even point unless you are ready to invest a substantial amount of cash in the condo.

5) Where in the building would you prefer to be placed?
 Mountain views, Strip view, city view, pool view, dumpster view, lets try for the basement.

6) What features are important to you inside your condo?
 Examples: office, bed/baths, deck, etc.?

7) What will be your parking requirements?
Are you going to need dedicated parking stalls, valet only parking, do you need one or 2 stalls?

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

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

Now pick up the phone and call me with the items on your list.  After we discuss your wants and needs I will carefully pick some condominium projects that meet your exacting needs.  Then together we can evaluate each candidate and consider your options.

Contact Max here NOW!

Sample Hotel-condo projects in Las Vegas

Please click on the pictures below to view these Las Vegas hotel-condos

Sample condo projects in Las Vegas with short term rental management

Please click on the pictures below to view these Las Vegas hotel-condos

Contact Max here NOW!

Return to the Condo home page

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

Buying a Las Vegas condo to snowbird