Las Vegas High Rise Condos

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High Rise Condo Investment Portfolio Available for Institutional Investors,
2008-03-22 01:00:00
My office has been made privy to an investment package consisting of 103 Las Vegas high rise condo units that are currently in foreclosure/short-sale status. The package includes lofts, 1 bedrooms, 2 bedrooms and penthouses in a variety of very high profile Las Vegas Strip high rises. Today's total market value of this portfolio according to the bank is just under $65 million dollars and they are offering the entire package ideally to institutional investors, large investment groups, and REITS for $42 million, which translates into almost a 36% discount to market for a large portfolio of Las Vegas high rise condo units.Obviously not for the small time investor... (we've got deals for you as well). But any takers? Please direct any questions or comments via email here. (name and phone number please)
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"Investing in Las Vegas High Rise Condos Right Now is So Risky"
2008-03-18 18:40:00
How many times have I heard that one? Or its sister comment: "I'm waiting for the market to bottom out. It's way too risky right now". Perhaps those quotes are true. Maybe it's better to invest in more solid and safe investments than Las Vegas high rise condos... say, perhaps.... Bear Stearns? Bear Stearns was always viewed upon as "as solid an investment you can get". Yet Bear Stearns, once the country's fifth-largest investment bank, agreed Sunday to be sold for just $2 a share, down 93% from its closing price Friday making millionaires out of billionaires and sending smaller-time investors to the poorhouse overnight. Can Merrill Lynch, Fidelity, etc. be far behind? How does Las Vegas real estate sound to you now?Look... there's no question if the economy right now were a car, it would have its red flashers on. Where are you going to put your money these days? You can't invest in real estate... you definitely can't invest in the stock market... we all know cash is king but ...
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Remember the Failed Hard Rock Las Vegas High Rise Condo Project? Let the La
2008-03-17 00:45:00
A group of real estate brokers have joined forces to sue former Hard Rock high rise condo developer Peter Morton for cancelling his $1 billion dollar condo project back in 2006. Alleging breach of contract and fraud, Coldwell Banker Premier Realty and two other California brokers are claiming Morton is required to pay millions of dollars worth of commissions for the almost 2000 reservations he claimed to have had when he sold his Hard Rock interests including approximately $800 million in sales reservations. The plaintiffs claim they had between 160 and 170 buyers for the high rise condo project. Let's see... 3% on each of those sales (where unit prices started in the $400K and went into the high millions) amounts to some pretty hefty commissions. But whether they're entitled to those commissions obviously remains to be seen. Of course, both lawyers say they're "confident we will prevail in the case" and I have no idea as to how this will be resolved. My only question is: what to...
More About: Las Vegas , Project , Condo

Why Buy Las Vegas High Rise Condos Now? Here's Why...
2008-03-11 05:52:00
Dan Kadlec recently wrote an excellent article in last month's Time magazine urging real estate investors of one thing: IGNORE THE HEADLINES! And with the constant negative reporting surrounding all forms of media (after all, fear sells), ignoring headlines is very difficult to do. If you're sitting on the sidelines twittling your thumbs before making any real estate purchases, the question at this point really becomes, what are you waiting for?Can you factor out all the negativity and see the amazing purchasing opportunities that others may be too scared to act upon? When prices are falling, few investors have the discipline to buy real estate - but history has proven time and time again that those who do excel in the long term. John D. Rockefeller once said "The way to make money is to buy when blood is running in the streets." And with constant talk of the "R" word, the streets certainly appear red these days. However, the Fed is currently cutting rates faster than a Nolan Ryan...
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57th Floor Trump Las Vegas Studio for Just $650K? No Way!
2008-03-03 21:57:00
Yes, way!Folks, here's perhaps the best deal you'll possibly find at Trump Las Vegas . I have access to a 57th floor Studio condo that you can now buy for a bargain basement price of just $650,000. Yes, that's the 57th floor. Yes, that's at Trump Tower. Yes, that is the best price you'll find anywhere. In fact, I have TWO of these 57th floor units available right now at that price - first come, first serve. Now, I understand there are many of you would-be condo buyers waiting to see what may happen in the Las Vegas high rise condo resale market. But like previous posts regarding deals at Panorama, $650K for a 57th floor Trump unit WILL NOT be beat.Try to offer $650K for a studio unit at the Trump salesoffice and watch them laugh you out of the building. This is YOUR chance at getting the last laugh on them instead.
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BloggerView: Mary Williams - Sullivan Square
2008-03-03 01:02:00
Mary Williams , marketing manager over at GSG Development and the Sullivan Square high rise condo project in Southwest Las Vegas, was kind enough to recently answer our BloggerView questions. Here's how she responded:Q: What is the current status of Sullivan Square?We’re quickly moving forward on our first phase. With site excavation and utilities now complete, vertical construction will begin mid-march. Delivery of phase one is scheduled for December 2009. Q: What are the unique features of Sullivan Square, and what sets it apart from other projects in town?Sullivan Square is a true mixed-use development featuring 1,300 residential units across six living options. High-rise condominiums, traditional brownstones, Live Work spaces, Chicago-style lofts, mid-rise terraced condominiums, and townhomes. Our market street will be filled with locally owned shops and services designed to meet the daily and/or weekly needs of our residents. The community centerpiece is a 1.5 acre park featu...
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ATTN: Pinnacle Las Vegas Buyers - Las Vegas High Rise Condo Bargains Abound
2008-02-29 20:44:00
On Wednesday, we scooped the news that the Pinnacle Las Vegas high rise condo project was closing its doors. That news hasn't hit the mainstream media yet. In fact, one of the developers of that project actually called us wondering how we got that information so quickly.Yesterday's post centered upon the great number of Pinnacle buyers who will be receiving refunds of their unit deposits within 30 days and are on the verge of being cash heavy during a period of time right now where bargains await.Take Panorama Towers as an example. The Panorama high rise condo project is in a most prestigious location as it is OVERLOOKING THE LAS VEGAS STRIP versus being right on the Strip and having a restricted view. The location is fabulous because of the access to drive or walk across the street to 500,000sf of CityCenter shopping, dining, shows, etc… without paying the 800sf to 2,500sf prices. The bargains below are up to a 40% discount to market right now!8th Floor, 1 bedroom/1 bath, 733sf...
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Trying to Time Las Vegas High Rise Condo Market Bottom Will Cost You Opport
2008-02-28 21:16:00
There are two things in real estate that all real estate experts agree on: it's impossible to time an exact market top and it's impossible to time an exact market bottom. In fact, that's true in just about any financial situation, including the stock, bond, and commodities markets. Successful investors see a TREND, and follow the trend and hope to buy or sell accordingly. They NEVER wait for the market bottom, because it's impossible to determine and they know they'll be sitting on the sidelines forever without ever getting into the game if they did.We all know what's been happening in the Las Vegas market. Have we hit bottom yet? Some say yes, some say no. At this point, I'm here to tell you that it doesn't even matter because bargains have finally presented themselves to investors and high rise condo buyers who don't want to sit around on the bench forever. The time to buy is now - when everyone else is scared (or waiting for that untimable market bottom).Let me give you ...
More About: Market , Time , Cost , Condo

Another One Bites the Dust: Pinnacle Las Vegas High Rise Condo Project Shut
2008-02-27 20:55:00
I have it on good notice that the Pinnacle Las Vegas is the latest high rise condo project here in Las Vegas that just won't be happening. Word on the street is that they've closed their doors and to look for an official notification in the upcoming days of the demise of this project.Too bad. I really liked the originality of their design and thought they had the development team and background to see this project through. It shows you how hard it is to bring a high rise condo project to fruition these days in Las Vegas and makes all the other projects actually in development or ready for move-ins all the more impressive that they even got that far!So what does that mean to those who've secured units in this project that will never get built? Well, truth be told, they're probably in an excellent situation right now. No doubt they'll get their earnest money deposits back - plus interest - which have been sitting around for quite some time now. (Many Pinnacle unit owners reserved...
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S-K-Y Spells Major Las Vegas High Rise Condo Deal
2008-02-22 23:42:00
How do you spell "DEAL"? Try "S-K-Y" as in the Sky Las Vegas high rise condo project. If you're looking for your "Pie in the Sky" this distressed sale situation ought to satisfy your appetite. Here are the quick details:One bedroom unit on the 26th floor with a balcony and AMAZING STRIP VIEW for $418K. You read that right - unobstructed drop dead fabulous views with the ONLY Las Vegas Strip address with amenities to live for.This is a major deal and will not last. The key words to remember regarding this opportunity are:- 26th Floor- Strip View- Strip Address- One Bedroom with balconyPut it all together and it spells "DEAL" - do not wait. Contact us immediately on this one.
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Narreia Weighs in on Las Vegas High Rise Condos and the Las Vegas Real Esta
2008-02-20 19:42:00
As Sean Brown indicates in his latest Las Vegas market conditions report (updated today 2/20/08), there's no doubt the hottest topic in Las Vegas real estate today is the luxury high rise condo marketplace. We all know the numbers by now - 20,000 units approved and 50,000 proposed - and despite a warning NOT to buy a Las Vegas high rise condo with the intention of flipping the unit at closing for a quick profit, Mr. Brown still has some kind words to say about this significant market sector.His report is an interesting read. You'll get a really good indication of Las Vegas market conditions from both a home buyer and real estate investor perspective. I know Sean personally and can tell you he's usually right on the money with the real estate analysis he and his company, the National Association of Residential Real Estate Investment Advisors (NARREIA), provide. His final word on Las Vegas high rise condos? If you are looking for a primary residence, a vacation home, or a condotel,...
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Register for our FREE Informational GO Zone Seminar - Zero Out Your Tax Bil
2008-02-16 00:56:00
How many Las Vegas high rises could you buy if you had the ability to never pay a dime in taxes in the next 20 years? Wouldn't it be nice to amend your last 5 years of tax returns and get the money you paid to the goverment back to use for real estate purchases?Many of you already are familiar with the Federal GO Zone Act which was passed by Congress to help the affected counties in Alabama, Mississippi, and Louisiana rebuild after Hurricane Katrina devasted the area. Here's your invitation to learn how you can make the GO Zone work for you. Local to Vegas? Please attend our FREE Informational GO Zone Seminar on Tuesday, February 19th, 2008 from 6:00 - 9:00pm located at Ruth's Chris Steakhouse (3900 Paradise Road, Las Vegas, NV 89109) View MapOpen Bar and hors d'oeuvres will be served.Brokers and real estate agents are more than welcome. Bring your investors for generous referral fees!Discover how the IRS has created the opportunity of a lifetime - ZERO federal tax this year, AL...
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Read These Tax Myths With Respect to Your Las Vegas High Rise Condo Purchas
2008-02-15 21:36:00
Tax time will be here before we even know it, so I thought I'd share with you the "5 Home Ownership Tax Myths " courtesy of Kay Bell in today's Yahoo Finance. They are the following:Mortgage interest will reduce my tax bill.All costs related to my home are deductible.I must use home profits to buy a new homePutting my children on the deed is tax-smart.If I take a loss on a sale, I can write it off. Have a look at the article (it's really quite good), then note carefully myth number 6 that's not included in the article: There are no good Las Vegas high rise condo bargains to be had TODAY!... and don't forget to read the list of the Top 25 Business Books compiled by 800-CEO-READ and brought to you by the Las Vegas Wealth Group. The info contained in these books might provide the knowledge required to live the high rise life in Las Vegas.
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Lawsuit Could Be Death-Blow to Las Vegas High Rise Condo Pinnacle Project
2008-02-10 23:06:00
It looks like Reason # 5 of our last year's Top 10 Reasons Why Your High Rise Won't Get Built post (inordinate amount of time passes without activity) has reared its ugly head in the form of the $740 million dollar Pinnacle Las Vegas high rise condo project. After more than 3 years of construction ground breaking inactivity, some buyers have had enough and have recently slapped the Pinnacle with a class action lawsuit (which also happens to be reason #9) for breach of contract and are demanding the return of deposit money plus damages and attorney's fees. 3 contractors in 3 years, plus the uncertainty in the overall national real estate market, coupled with Pinnacle's unknown present construction status along with a groundbreaking date that has changed repeatedly, all could signify the death of this once promising project. According to the lawsuit documentation, The Pinnacle high rise condo purchase agreements contained addendums with developer benchmarks, such as breaking grou...
More About: Lawsuit , Project , Condo , Death

Get a Great Bargain on a Las Vegas High Rise Condo Short Sale
2008-02-08 23:08:00
As those who have already registered for our Featured Deal alert on www.VegasHighRiseResales.com already know, we have a situation developing right now that you have to take a look at if you're in the market for a great deal on a Las Vegas high rise condo. Are you sitting down? In a nutshell, you can now own a 1,555 square foot pool side Panorama high rise condo that's going right now on a short sale for $399,900. Offers are being taken - one already is in at just a slightly higher offer price - and we believe a cash offer slightly over the asking amount will close this baby.The short sale price at just $257 per square foot is BY FAR the lowest you'll see for high rise condos on or near the Strip. The Panarama high rise project is located within walking distance to the Strip across from the MGM Mirage Project CityCenter (which by the way is selling units for $800 to $2,500 per square foot). Talk about bargains! And remember, a walkway is being built from the Panaroma Towers direc...
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World Market Center Continues Growing - Downtown Las Vegas High Rise Condos
2008-02-05 01:35:00
Once again, good news arrives regarding the World Market Center, downtown Las Vegas ' jewel of the desert as the city of Las Vegas has officially approved a fourth building at the site of the 57-acre complex.Construction on the 17-story "D" Building is scheduled to start late this year and be completed by the end of 2010. In addition to its 1.1 milion square foot West Coast venue for the gift, decorative lighting, and home textile industries, it will also connect the "C" building with the parking garage scheduled to open in the summer and bring the total project square footage to over 6 million square feet.If you still don't think Downtown Las Vegas is a goldmine of potential, just ask Miami developer Gregg Covin about the area. Six months ago, Covin bought the downtown Las Vegas Gold Spike property for $15.6 million and just sold it to The Siegel Companies for $21 million. Not a bad profit for 6 months of work, huh? And don't think the buyer overpaid either - they're experienced...
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Preview Las Vegas Event Suggests Long Term Positive Outlook for Las Vegas a
2008-02-01 18:09:00
Yesterday morning, I attended the Preview Las Vegas 2008 event, which at this point, is a yearly "must attend" in order to get an idea of what's in store for the Las Vegas economy and the real estate industry. Did your real estate agent attend? If not, ask them why as surely anyone who takes the market here seriously should know it's the number one informational and networking opportunity Las Vegas has to offer.Yesterday's event featured speakers Rossi Ralenkotter (President/CEO of the Las Vegas Convention and Visitors Authority), Jeremy Aguero (a principal of Applied Analysis), Guy Kawasaki (Managing Director of Garage Technologies Ventures), and finally keynote speaker Richard Lee (Vice President and Director of Public Relations from First American Title).I thought Mr. Kawasaki's presentation on marketing innovation alone was worth the $80 price of admission, but there were a number of takeaway points that were also quite interesting from the event as a whole:For almost 100 ye...
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Upon Further Review, the Las Vegas High Rise Condo Hotel Call Stands!
2008-01-31 01:47:00
Yesterday's post on the Las Vegas high rise condo hotel property management company that's suing Trump generated a lot of email interest, so I decided to do a little more research into the situation. The first thing I did was to read the entire complaint - all 15 pages. Page 6 of the document has an interesting paragraph pursuant to the "Condo minium Hotel Act" which provides a legal description of hotel condo units:NRS 116B.325 Description of units. A description of the residential units and the hotel unit which sets forth the name of the condominium hotel, the file number and book or other information to show where the declaration is recorded, the county in which the condominium hotel is located and the identifying number of the units is a legally sufficient description of those units and all rights, obligations and interests appurtenant to those units which were created by the declaration or bylaws.Now, I'm no lawyer, but it sounds as if plaintiff (Nights at Vegas) just wants t...
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Las Vegas High Rise Condo Hotel Property Mangement Firm Suing Trump High Ri
2008-01-30 19:10:00
A while back, I made a prediction that if you really wanted to get rich in Las Vegas , open a property management business catering to high rise condo hotel owners and help make the process of renting out their high rise units easier and hassle free.Well, apparently, it's a lot tougher than it seems. In fact, a company called Nights at Vegas is doing just that, and it seems they're running into some issues with the Trump organization.According to TMZ.com, Night's at Vegas is suing the Donald and all his partners involved in his Las Vegas high rise condo hotel tower project. And when we say suing, we mean suing in a big way, to the tune of $4 billion which is way more than he's even worth. Talk about a statement! Nights at Vegas is a licensed real estate property management company and has leased out a number of the condos at Trump's condo hotel, but only charges the unit owner 20% of the rental income as opposed to the 50% split offered by Trump's management company handling re...
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Palms Place Developer George Maloof Sees Approval Next Month for his Las Ve
2008-01-28 19:43:00
One of the most anticipated high rise condo hotel projects in Las Vegas is getting closer to their official opening. By the end of February, the Palms Place high rise condo project should have their certificate of occupancy in place and owners can start moving into their $1,000 per square foot high rise units. The project has been completely "sold out" for quite some time now, as buyers put down 20% deposits to secure their units. How many actually close escrow remains to be seen, but it will be a good indication of where this marketplace is going should a high percentage followup to close.The project cost more than originally planned (of course), but a developer such as George Maloof had no qualms about moving forward to complete the 47-story, 599-unit condo hotel. After all, what's a mere $650 million for arguably the "coolest" project in town? Designer accessories, fully equipped kitchens, 42-inch plasma TV's, rainfall showerheads, jetted tubs, private balconies, beauty salon, ...
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Cosmopolitan Las Vegas High Rise Condo Developer Has Seen Foreclosure Situ
2008-01-21 21:43:00
"This action by our lender comes as no surprise. With the current challenges within the real estate and debt capital markets, which are out of our control... we both anticipated and planned for this."That's the statement Cosmopolitan developer Ian Bruce Eichner made regarding news that his $3 billion dollar Las Vegas high rise develpment is now facing foreclosure as a result of defaulting on a $760 million construction loan from Deutsche Bank.Surprising statement? Perhaps, but then again... In his past dealings, Eichner's also lost control of two major high rises in Manhattan that today are complete successes, the 70-story CitySpire and the 42-story tower at 1540 Broadway. It appears the Cosmopolitan's another high rise, high quality project that'll eventually get built without him in control.MGM Mirage is reporting that sales on Project CityCenter, which is also anticipating a late 2009 opening, are still holding strong, with half of the available 2,647 condo units "sold" for $...
More About: Developer , Foreclosure , Condo

Seeking Loft Life? Metreon Lofts Makes For an Interesting Las Vegas Mid-Ris
2008-01-20 19:47:00
If you frequently drive past Flamingo Road and the 215 Beltway, I'm sure you've noticed the construction going on on the Northeast corner of Flamingo. At that location, Breslin Builders is constructing the new $33 million Metreon Las Vegas , a mixed use mid-rise condo project being developed by the folks over at Kennedy Commercial. If you're unfamiliar with Kennedy Commercial, they've been developing mixed-use real estate developments for quite some time now, including the construction of "Solstice", a very anticipated resort project in Mesquite, NV. Metreon is poised to quickly become the number one option for a live-work-play environment in Las Vegas. This distinctive neighborhood is just six miles from the Las Vegas Strip, directly outside of Summerlin, the nation's premiere master-planned community. The development calls for a 110,000 square foot enclave of upscale shops, fine restaurants, and popular stores in addition to two five-story mid-rise towers with live-work and re...
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More Problems Await The Cosmopolitan Las Vegas High Rise Condo Project
2008-01-17 18:54:00
As an addendum to the last post regarding the Cosmopolitan high rise condo project on the Las Vegas Strip, it seems the investment bank Deutsche Bank has gotten into the action. Yesterday, Deutsche Bank filed a notice of foreclosure on the $3 billion las vegas high rise condo hotel project for a $760 million dollar construction loan that just matured. Developer Bruce Eichner confirmed the story and also confirmed that he's looking to find more investors to keep the project going. Eichner said the foreclosure action did not come as a surprise and that he and his group anticipated and planned for it. With the real estate and debt markets the way they are right now, raising capital in this environment isn't easy. But Eichner said he's had multiple conversations with several groups of interested investors already which apparantly are still ongoing.I think reading between the lines of these comments means that you'll eventually see the Cosmopolitan happen, but without Eichner as the ...
More About: Project , Condo , Problems

I'll Have A Cosmo... That'll Be $400 Million, Please
2008-01-14 23:44:00
The Cosmo politan project, a Las Vegas high rise condo hotel project that's been progressing nicely, is now looking for investors. Usually, when you read a sentence like that, you'd think the developer would be looking for investors to purchase individual condo units in the building as investments. But no - in this case, they need investors to step up in order to invest in the entire project itself to the tune of $400 million.With cost overruns coupled with rising construction costs and a perceived soft Las Vegas high rise condo real estate market, this once solid project has now been possibly placed into a state of limbo. However, that fact that the project is seeking outside investors isn't the real reason this project may be in jeopardy. After all, it's location right on the Strip is perfect and with CityCenter practically next door, you should be looking at a slam-dunk winner. And private equity funds are always on the lookout for opportunities such as this. Cosmo still makes...
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Announcing VegasHighRiseResales.com for the Las Vegas High Rise Condo Resal
2008-01-11 00:42:00
It all started with this post. So many of you have responded by email and phone regarding the previously untouched upon subject of Las Vegas high rise condo resales, that we decided to create a website based solely on this topic. You can view it here at www.vegashighriseresales.comThis site will appeal to 3 types of people:The person who already has a contract on a Las Vegas high rise condo (or condo hotel) who may be in somewhat over their heads and would like help in remedying their situation.The high rise buyer who's sat on the sidelines for awhile waiting for that high rise condo deal to come (whether it be a strip, downtown, or off strip property)Those who've already closed on high rise units looking to sell Which one are you? Please visit the website, let us know what you think, and if you'd like - definitely sign up for resale Property Alerts. We've spoken to a number of you already and are putting some extremely interesting opportunities together right now. 2008's reall...
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Vegas Magazine is a Must Read If You're A Las Vegas High Rise Condo Buyer
2008-01-09 01:27:00
There's some interesting controversy recently in the Las Vegas High Rise condo world regarding a project we've mentioned many times in this blog. I haven't confirmed the rumors as of yet, but suffice to say that you'll get a really good clue as to what I'm taking about if you read this month's edition of Vegas Magazine .But if you don't have the time, I'll save you the trouble as to what it means for you. How about a Las Vegas high rise condo starting at $227,000 !?!? I'm talking large square footage in a high rise project where comparable units have sold for over $700,000. This is no exaggeration. We're getting out ducks in a row for this one folks, so if you're at all interested in a high rise condo purchase, you need to let us know so we can add you to our prospective purchaser list for this opportunity. Obviously, we'll give you more details when you contact us (please include your name and phone number), but we'll need you to act fast if you like what you hear.
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Playing It Safe is Bad Strategy in Sports And Las Vegas High Rise Condos
2008-01-07 17:33:00
I had a pretty profitable day at the sportsbook betting on the Giants to beat Tampa Bay yesterday. Now I'm no football analyst - and I'm certainly not a betting handicapper. So when and how did I know Tampa Bay would lay a stinker in their loss against the Giants? I knew way back on December 30th, immediately after hearing that Tampa Bay was resting their entire starting lineup in their 31-23 loss to Carolina in anticipation of their first round playoff game against New York. It's hard to understood this theory of resting players. Resting key players generally sends a bad subliminal message to all involved. It's a message of fear (and we all know fear is not a good emotion when it comes to football.) Coaches are afraid their star player might get hurt in a "meaningless" game situation. But they're more afraid of the media outcry and the storm of controversy they'd be subjected to if an injury or a freakish play would occur in that game. So they decide to "play it safe" by avoi...
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Once Again, Lawyers Are Getting Involved in the Las Vegas High Rise Condo H
2008-01-05 03:17:00
On the heels of my last post on the tremendous amount of mis-information regarding high rise condo hotels comes today's article in the Las Vegas Sun about how high rise condo owners are now suing developers because their condo rental units aren't performing to the levels they expected.It seems 40 unit owners at the MGM Signature high rises have sued MGM for fraud, saying they only bought their condos because false representations were made to them regarding rental income projections. Regardless of whose side you're on, take these two quotes in the article to heart:From Joel Greene, a condo marketer in Miami: "Instead of riding out a long-term investment that will probably be OK, some buyers are looking for their attorneys to bail them out".And from real estate broker Rory Agnello: "The problem has nothing to do with the housing market. It has to do with a bad marketing program. They sold units at the wrong prices to the wrong people."I have a feeling we'll be seeing similar arti...
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Don't Be Mis-Informed About Las Vegas High Rise Condo Hotel Legalities and
2007-12-31 02:51:00
This really isn't what I wanted to devote my final post of 2007 on, but there's been a lot of confusion lately in the Blogosphere and in the Las Vegas high rise condo hotel marketplace in general regarding what actually constitutes a "condo-hotel" versus a strict condo and what high rise condo hotel purchasers really need to know before they make an investment decision in any condo hotel project in Las Vegas (or anywhere for that matter).Let's address the matter of whether you can actually live in your condo hotel unit or is there a requirement to continually rent it out? The answer is a definite yes - you can live in your own unit whenever you want to. There's no stipulation that says because a condo project is designated as a "condo hotel" that it must be used 100% for investment purposes. I've seen this being incorrectly posted in a number of blogs lately and it's giving prospective purchasers the wrong idea of both their ability to use their unit for themselves as well as ...
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Trump High Rise Condo Hotel Rental Split is 50-50%, So Where's the 3rd Fift
2007-12-24 16:07:00
Donald Trump 's amazing Trump Las Vegas high rise Tower is just about finished and will soon be ready for move-ins. That's the good news. The bad news is, unless you're a really high net worth individual and bought your unit without positive cash flow intentions, you're not going to be very happy about your high rise condo hotel purchase. You see, the rental program at Trump is apparently offering a 50-50 split to unit owners, and that's after 10% is taken off the top! You have to do the math on this one - or rather, don't do the math. It's way too scary, because one must wonder about the proverbial "3rd 50 percent". If you bought into Trump already as an ego-driven purchase, as in "I have the money and I want to indulge myself", then congratulations - you bought into one of (if not the best) luxury projects in town and you'll be very happy. However, if positive cash flow was your goal, visit this website instead or hope the entire nationwide real estate market bounces back r...
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