High-Rise Condos For Sale

Understanding Condo vs Condo-Hotel Ownership in Las Vegas

Las Vegas has more condo-hotels than just about any other city in America. These are a different breed of condo ownership from traditional high-rises, and it's important to understand the differences between the two. The upside is that you can stay in your condo whenever you like and typically just pay a cleaning fee. Then when you're gone you can put the unit in the hotel pool and earn money whenever it rents. Some of the towers don't allow owners to stay for long periods of time, and some have different fee structures if an owner does stay most of the year. So a condo-hotel isn't really a good option if you're thinking about being a part-time Las Vegas resident, and you shouldn't even consider trying to make one your permanent residence. Contact Bill for some better options in that scenario.

Financing these condo-hotel units is difficult and most of the buildings are cash-only. Some clients have found a hard-money lender with a big enough down payment, but those interest rates are high which will greatly affect your ROI. However if you're a cash buyer and you're ready to move on a property there are a lot available. Be aware though that since these have to be sold for cash they take longer to sell, so consider it a long-term hold.