Did you hear the news? The project that everyone has been hearing about for the last few years, is becoming a reality! Introducing The Boardwalk Condominium Hotel Resort!
THE ESSENCE OF THE CONDO HOTEL CONCEPT
CONDO HOTELS are condos that are sold to individual investors who may use their unit as a vacation home whenever they like. When they’re not using their unit, owners have the option of placing it into an organized rental program. Rental revenue, which is shared with the Rental Manager, helps defray the owner’s expenses. During phase one, the project will also include an in-ground infinity pool. Phase two will include an enclosure over the pool so swimming can be enjoyed year round.
IS FINANCING AVAILABLE FOR PURCHASING CONDO HOTEL UNITS?
Financing for CONDO HOTEL units is not difficult to find. Most lenders now are familiar with CONDO HOTELS and recognize them as viable real estate investments. The Condo Hotel developer or your real estate broker can recommend reputable lenders.
WHEN IS THE BEST TIME TO BUY A CONDO HOTEL?
the best time to purchase a CONDO HOTEL DEVELOPMENT is in the early stages of pre-construction. That is when prices are at their lowest, and buyers have the best selection of available units. Because of the high rate of demand, most CONDO HOTELS go through several substantial price increases before selling out, and most do sell out long before construction is complete. In some cases, CONDO HOTELS sell out before construction is even begun.
DOES IT COST EXTRA TO PURCHASE A CONDO HOTEL USING A REAL ESTATE BROKER?
No. The price is the same whether you use a Realtor or go direct to the developer.
TAX ADVANTAGE OF THE BOARDWALK CONDO HOTEL
Under the rules of the IRS 179, there is a provision that allows for fast depreciation of certain items in the CONDO HOTEL unit, which is passed onto the purchaser. In our CONDO HOTEL development, it can be as high as $20,000 of depreciation in the first year. Please refer to your tax adviser for your individual results.
Pre-build sales are available now. Stop in to the our office and we will happily sit down with you and go over the perks of this fantastic project set to build soon!