Nevada Real Estate >> Las Vegas Real Estate Specialist: April 2008

Those Las Vegas Condotels: Self Fulfilling Prophecy?

Here it comes, the avalanche of lawsuits because owners are claiming that they bought because they were promised one thing and then they delivered another.

Here is what I wrote in November 2006:

Las Vegas Condotels - Sizzle or Fizzle? Losing Bet on Immediate Cash Flow, Placing Your Wager on a Long Term Investment: What Joe Doesn't Know!

Here is what is going on now:

Apparently the condotel owners are not seeing the returns they are promised and are trying to do something about it.  Just a little trip to the Las Vegas Convention & Visitor Authority's website could have saved a ton of money and heart ache for people who didn't understand that the amount of rooms (%wise) does not add up to the increase in visitor volume (%wise).

A good long term investment, the verdict is still out.  An immediate return on your buck, HECK NO!  Seriously, you probably would have received a better return buying a regular high rise condo on or near the strip, buy some cheap furniture from Ikea and straight out rent it out yourself.


Thanks,  Renée Burrows 702-580-1783 Broker/Owner, REALTOR®
 

 

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Comment balloon 1 commentRenée Burrows • April 29 2008 07:42PM
Those Las Vegas Condotels: Self Fulfilling Prophecy?
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Here it comes, the avalanche of lawsuits because owners are claiming that they bought because they were promised one thing and then they delivered another. Here is what I wrote in November 2006: Las Vegas Condotels - Sizzle or Fizzle? Losing Bet on… more
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