Anybody have experience with these? They seem to be the trend lately. Basically, you "buy" a hotel room, as a condo. But, down at the front desk, they rent it out daily for you just like a hotel. And, they split the income with you.
I ran the numbers on a few, and with expected occupancy (way less than 100%), and a typical mortgage, you should theoretically break even if you don't stay there.
But, then when you come to Hawaii, you have a place to stay. Granted, it's a 400 square foot hotel room. So, you'd have to figure something out more permanent eventually.
But, I also ran through a scenario where four business people from the mainland go in on one, and then basically have a regular place to stay for their trips.
I ran the numbers on a few, and with expected occupancy (way less than 100%), and a typical mortgage, you should theoretically break even if you don't stay there.
But, then when you come to Hawaii, you have a place to stay. Granted, it's a 400 square foot hotel room. So, you'd have to figure something out more permanent eventually.
But, I also ran through a scenario where four business people from the mainland go in on one, and then basically have a regular place to stay for their trips.
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