New STR Investor: Question About Condotels

[Alexandra Danner]

Hi Everyone! I'm new to this business and am trying to learn everything I can before I take my leap. I'm looking in the Ocean City, NJ area and was wondering what people's thoughts are on condotels. I'm not thrilled with these places looking like a motel/hotel, but there are some pros to these types of rentals. The HOA covers most of the housing fees (booking, house cleaning, water, sewer, internet and cable). Also most of these places are right next to the beach and attractions. Are these profitable purchases in the long run? Also, how is the resale value on them?

Thanks in advance for your help.